The consumer credit market in Indonesia is experiencing rapid growth, driven by demand for short-term loans with small values. Data from the Financial Services Authority (OJK) shows a year-on-year growth of 10.88% as of September 2024, slightly higher than August’s 10.83% increase. This upward trend reflects rising needs for financial products to address various purposes, such as healthcare, education, travel, and household expenses.

PT CRIF Lembaga Informasi Keuangan (CLIK) has reported a significant rise in disbursements of short-term loans during Q3 2024, totaling Rp29.9 trillion. This marks a 24.95% increase compared to Q2, alongside 35.75 million new loan contracts. To meet this growing demand, CLIK has introduced a new credit scoring model, CLIK SKAI (CLIK Credit Score Accelerating Inclusion), designed to streamline risk assessment and enhance financial accessibility.

Leonardo Lapalorcia, President Director of CLIK, emphasized the importance of innovation in credit risk assessment. “Real-time data access and advanced analytics technologies are crucial for entering the digital era of credit evaluation. This innovation allows a shift from collateral-based lending to unsecured loans, where credit scores can serve as a borrower’s reputation guarantee,” he said.

CLIK SKAI leverages AI, machine learning, and alternative data sources to create a more accurate bureau scorecard. It caters specifically to loans with tenors of up to six months and a maximum value of Rp8 million. By predicting default risks, it aims to help lenders make informed decisions while maintaining responsible lending practices.

The model’s benefits extend across various sectors, including peer-to-peer (P2P) lending platforms, Buy Now, Pay Later (BNPL) providers, multifinance companies, and banks. It ensures better credit allocation and increases loan approvals without escalating default risks. Anggie Setia Ariningsih, Chair of the BNPL Committee at the Indonesian Financial Services Association (APPI), highlighted the potential for CLIK SKAI to strengthen the financial ecosystem, enabling safer and more secure borrower journeys.

The adoption of this advanced credit scoring model also aligns with broader efforts to promote financial inclusion in Indonesia. Tiar Nabilla Karbala, Secretary General of the Indonesian Fintech Lending Association (AFPI), called for closer collaboration between industry players and associations to educate consumers on responsible credit usage. She noted that the growing digital economy has heightened demand for short-term financing solutions.

Through CLIK SKAI, CLIK aims to empower stakeholders in the financial ecosystem—including banks, multifinance companies, and P2P lending platforms—to improve credit risk management, support financial inclusion, and encourage responsible lending amid dynamic market changes.