OJK Encourages MSME Financing Access Through Alternative Credit Rating

JAKARTA - The Financial Services Authority (OJK) continues to expand access to financing and encourage financial market deepening through the utilization of Alternative Credit Rating (PKA), especially for Micro, Small and Medium Enterprises (MSMEs).

Chief Executive of the Financial Sector Technology Innovation Supervision, Digital Financial Assets, and OJK Crypto Assets, Hasan Fawzi said that strengthening regulations, utilizing alternative data, and collaborating across stakeholders are the keys to increasing access to financing for segments that have not been served by banks.

"In the midst of the current acceleration of digital transformation, where technological advances have presented various innovations that open up great opportunities to expand inclusion and deepen the national financial market," Hasan said in his statement, Wednesday, December 10.

Furthermore, he also conveyed the rapid development of the use of PKA in Indonesia, including the increasing amount of inquiry of credit data and collaboration between PKA organizers and financial service institutions.

Hasan also emphasized that the use of PKA is a concrete solution for MSMEs who have been constrained by credit access due to limited formal documents, even though they have productive economic activity.

He hopes that the various steps taken can build shared awareness and support to encourage wider, inclusive and responsible PKA utilization.

According to him, strengthening the role of PKA is expected to accelerate the distribution of financing, increase financial inclusion, and support sustainable national economic growth.

On the same occasion, the Director General of Stability and Development of the Financial Sector of the Indonesian Ministry of Finance Masyita Crystallin conveyed the role of strengthening alternative credit rating in financing strategies and developing an inclusive financial sector.

Dia mengatakan seluruh sektor, termasuk UMKM, masih menghadapi hambatan dalam memperoleh akses pembiayaan bukan karena tidak layak atau tidak produktif, melainkan karena data yang dimiliki belum terbaca dan terstruktur dengan baik.

"Padahal pada dasarnya mereka mampu memanfaatkan layanan pembiayaan. Karena itu, relevansi penilaian kredit dengan pemanfaatan sumber data yang kaya di Indonesia dapat dioptimalkan dan digunakan dalam membuka akses pembiayaan,” kata Masyita.

Masyita menegaskan bahwa pendekatan berbasis data perilaku yang digunakan PKA mampu menghilangkan data gap yang selama ini menjadi penghalang akses pembiayaan UMKM, sehingga penilaian kredit menjadi lebih objektif, inklusif, dan akurat.

He said that all sectors, including MSMEs, still face obstacles in obtaining access to financing not because they are not feasible or not productive, but because the data they have has has not been properly read and structured.

"In fact, basically they are able to take advantage of financing services. Therefore, the relevance of credit assessments with the use of rich data sources in Indonesia can be optimized and used in opening access to financing," said Masyita.

Masyita emphasized that the behavioral data-based approach used by PKA was able to eliminate gap data which had been a barrier to MSME financing access, so that credit assessments became more objective, inclusive, and accurate.