In the context of Indonesia’s financial system, SLIK (Financial Information Service System) is a system managed by the Financial Services Authority (OJK) to collect, store, and distribute debtor financial information. Based on Financial Services Authority Regulation Number 11 of 2024 concerning the Second Amendment to OJK Regulation Number 18/POJK.03/2017 on Reporting and Requests for Debtor Information Through the Financial Information Service System (SLIK), fintech and insurance companies are required to contribute to data reporting to SLIK as part of the applicable regulations.
Purpose of SLIK Reporting
Mitigating Credit Risk: Data reported to SLIK helps provide insights into the creditworthiness of debtors.
Financial Transparency: Enhancing transparency in the financial sector to protect public interests.
Effective Supervision: Assisting OJK in supervising company performance and debtor behavior.
Supporting Financial Stability: Preventing systemic risks in the financial sector.
Obligations for Fintech Companies
Fintech companies operating in peer-to-peer lending are required to report customer data, including loan information, payment status, and credit history.
The reported data must be accurate and submitted periodically according to the schedule determined by OJK.
Obligations for Insurance Companies
Insurance companies are required to report data related to insurance policies that include elements of investment or financing.
The purpose is to detect potential financial risks associated with insurance products.
Sanctions for Non-Compliance
Companies that fail to comply with reporting obligations may face administrative sanctions, ranging from warnings to fines.
Additionally, a company’s reputation may be affected, reducing consumer and business partner trust.
Benefits for the Industry
Helps create a healthier and more trustworthy financial ecosystem.
Provides broader access for the public to technology-based financial services.
Fintech and insurance companies are expected to consistently comply with these regulations to maintain the stability of the financial system and support national economic growth.
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