Understanding the Differences Between BI Checking and SLIK OJK Before Applying for Credit

In the banking world, there are two terms: BI Checking and SLIK OJK. BI Checking and SLIK OJK are two tools used by financial institutions to assess a person's eligibility for receiving credit. Although both have similar functions, there are significant differences between them that need to be understood by prospective debtors. In this article, we will help you understand these differences and learn the importance of having a clean credit record before applying for credit.

Key Takeaways:

1. Both BI Checking and SLIK OJK are used to assess the eligibility of individuals and business entities to receive credit
2. The Financial Services Authority provides more comprehensive benefits compared to BI Checking, such as easy access, transparency, and data completeness that helps improve the quality of credit evaluation in Indonesia
3. Checking credit history can be done online through iDebKu OJK and offline by visiting the nearest OJK office

Definition of BI Checking

BI Checking is a term that was previously used to refer to the process of checking the credit history of individuals or business entities conducted by Bank Indonesia (BI) through the Debtor Information System (SID). This system records all credit information ever applied for by individuals or business entities to financial institutions, such as banking, credit installments, leasing, or savings and loan cooperatives.

Information in BI Checking includes data about the status of credit applications to banks, loan amounts, and whether debtors have good or problematic payment history. This data is used by banks or other financial institutions to assess risk in providing new loans to prospective debtors.

It should be noted that the term BI Checking is no longer officially used since 2018, after the role of credit history monitoring was taken over by OJK through the Financial Information Services System (SLIK). However, the term BI Checking is still often used by the public to refer to the credit history checking process.

Definition of SLIK OJK

SLIK OJK (Financial Information Services System of the Financial Services Authority) is a system used to collect and provide information related to debtor credit history to financial institution information systems, such as banks, financing companies, and other institutions. This system replaced BI Checking in 2018, after credit information management was transferred from Bank Indonesia to the Financial Services Authority (OJK).

SLIK OJK functions as a tool to assess a person's credit eligibility based on loan payment history, amount of ongoing credit, and whether the debtor has ever experienced arrears or bad credit. This information is used by financial institutions to assess risk in providing new credit to prospective debtors. The Financial Services Authority provides broader and more detailed data compared to Bank Indonesia, covering various types of credit and financial institutions in Indonesia.

Differences Between BI Checking and SLIK OJK

Although BI Checking appears similar in usefulness to OJK, there are differences between BI Checking and SLIK OJK. Here are some differences between BI Checking and SLIK OJK:

1. System Manager

• BI Checking: Managed by Bank Indonesia through the Debtor Information System (SID) until 2018
• SLIK OJK: Since 2018, this system has been managed by the Financial Services Authority (OJK) through the Financial Information Services System (SLIK)

2. Data Coverage

• BI Checking: More limited data coverage, only covering debtor data from banks and certain financial institutions
• SLIK OJK: Broader coverage, including various financial institutions, including banks, financing companies, cooperatives, and other non-bank institutions registered with OJK

3. Level of Information Detail

• BI Checking: Provides debtor credit data, including payment status and arrears, but the information is relatively more concise
• SLIK OJK: Provides more detailed information, including credit history, credit types, loan amounts, installment status, and details about bad credit or arrears

4. Access and Usage

• BI Checking: More difficult to access by the general public, as it can only be accessed through financial institutions
• SLIK OJK: Easier to access by the general public, as debtors or prospective debtors can apply to check their own credit history through OJK offices or online

5. Operating System

• BI Checking: Old system that is no longer used after transfer to OJK
• SLIK OJK: Latest system that replaces BI Checking, and is still actively used today

Advantages of SLIK OJK

Both BI Checking and SLIK OJK have several important advantages for both debtors and financial institutions. Here are some advantages of this system:

1. Broader Data Coverage

SLIK OJK covers more financial institutions, both banks and non-banks, so the credit score owned by prospective debtors is more comprehensive.

2. Higher Transparency

Debtors can easily access their own credit history information, so they can check for errors or improve their credit status before applying for loans.

3. Facilitates Credit Application Process

With more detailed data and easier access, the credit application process becomes faster and more efficient, both for financial institutions and prospective debtors.

4. Prevents Credit Fraud

Financial institutions can use SLIK OJK to detect potential fraud or false information provided by prospective debtors. Clear credit scores help assess whether prospective debtors provide accurate data.

5. Easy Access by the Public

In addition to financial institutions, individuals can also access their credit information through OJK. This allows prospective debtors to know whether they are eligible to apply for bank credit and improve their credit records if needed.

6. Improved Data Accuracy and Updates

With SLIK OJK, credit score data is always updated regularly and more accurately because it covers many institutions, so the information used in assessing debtor credit is more relevant and up to date.

How to Check Credit History with BI Checking or SLIK OJK

Here's how to check credit scores through SLIK OJK, according to Detik.com, dated September 13, 2023:

1. Online Application

You can apply to check credit scores online through the official OJK website. Here are the steps:

1. Visit the official OJK site at https://idebku.ojk.go.id/
2. Click the "Registration" menu on the iDebKu OJK main page
3. Check service availability by filling in all columns on that page and click next
4. If successful, applicants will be asked to fill in complete registration data on the requested form such as identity documents and others. If everything is filled correctly, then click next
5. After registration is complete, applicants will receive an electronic letter (email) from iDebKu OJK, containing registration information
6. Applicants can check the application status in the "Service Status" menu by filling in the registration number
7. OJK will verify the applicant's application data and send the results via the applicant's email, no later than 1 working day after the registration process

2. Direct Application (Offline)

If you prefer to come directly, you can visit the Financial Services Authority office or certain branch offices that provide SLIK services. Here are the steps:

1. Visit the nearest OJK office bringing identity documents (ID card or passport)
2. Fill out the debtor information access application form
3. OJK officers will verify your data and provide credit history check results directly

Document Requirements for Checking Credit History Through SLIK OJK:

For Indonesian Citizens (WNI):

• Original ID card and photocopy

For Foreign Citizens (WNA):

• Original passport and photocopy

If you want to check credit scores for business entities, additional documents are required such as company tax identification number and company establishment deed or business entity identity.

Understanding the differences between BI Checking and SLIK OJK is very important before applying for credit. With a good credit score, your chances of getting credit approval will be much greater. Always make sure to check and maintain your credit records so that the credit application process runs smoothly and as expected.

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