Create a More Inclusive Financial Ecosystem, Modalku and PEFINDO Credit Bureau Officially Working Together

INDUSTRY.co.id - Jakarta, Modalku, pioneer FinTech peer-to-peer (P2P) lending in Indonesia, and PEFINDO Credit Bureau (PBK), as a credit information management agency, announced a partnership with the goal of building a more efficient and data-driven P2P lending infrastructure for access financial services for the community is increasingly widespread and qualified.

This partnership gives Modalku access to the Credit Bureau PEFINDO credit report, which contains the credit history, score and background of the prospective borrower. Information from PEFINDO Credit Bureau will complete Modalku data, so the quality of credit analysis is increasing and more accurate.

With faster and more accurate credit analysis, Modalku can support a growing number of qualified local Micro Small Medium Enterprises (MSMEs). Borrowers who do not have a financial history in the national financial system are enabled to gain access to financing.

This partnership also increases efficiency and lowers risk for lenders, because the PEFINDO Credit Bureau report can be utilized in assessing incoming loan applications thereby reducing the risk of default.

Hendrikus Passagi, Director of Licensing and Supervision Arrangement of Fintech OJK, said that the cooperation between Modalku and Pefindo Credit Bureau is a collaborative model that is encouraged so that in the short term it can immediately create a healthy FinTech industrial ecosystem, and in the medium term can provide maximum support for the formation the digital economic ecosystem, in which there is an E-Commerce industry that will become one of the strengths of the Indonesian economy in the future.

"This cooperation is also a momentum to share knowledge and experience," said Hendrikus in Jakarta (27/12/2017).

He added that Pefindo Credit Bureau has a very strong experience in analyzing credit risk profile based on past financial performance. While Modalku with the latest information technology and algorithm, it has an advantage in analyzing risk profile based on public information available in various payment system, telecommunication provider, social media and online store.

"Through this cooperation, there will be a rapid data exchange mechanism, and will further improve the quality of credit risk analysis from both parties. We encourage all fintech lending organizers to immediately follow this model of cooperation" explained Hendrikus

Meanwhile, Stefanus Warsito as Chief Risk Officer Modalku revealed, we want to provide the best for both parties user Modalku, both the borrower and the lender.

"The partnership with Pefindo improves the quality of P2P lending infrastructure, as it will be easier for us to find qualified and lucrative MSMEs, as well as improve security for lenders, and Modalku and Pefindo are running a pilot project supported by OJK," he said.

On the other hand, John Arts Abimanyu as President Director of PEFINDO Credit Bureau added, through this partnership, we hope PEFINDO Credit Credit Bureau's accurate and value-added services can support the progress of Indonesia's financial ecosystem.

"With the service of PEFINDO Credit Bureau, it is expected to encourage UMKM which previously unbankable become bankable," said Yohanes.

Furthermore, John added, through the information we present, the credibility of the debtor can be fully and quickly known through the historical data of credit history, to facilitate the analysis of credit facility provision.

Our services are also equipped with score, risk category information for prospective borrowers and probability of default measurements that can reduce the potential for non-performing loans and improve operational cost efficiency.

"As for the public, the individual's score or report can reflect his credit reputation and build positive behavior to always be responsible for his financial obligations, as well as a mechanism for control over the accuracy and accuracy of data," he concluded.