The difference between BI Checking and OJK's SLIK that you must know before applying for credit

The Difference Between BI Checking and OJK's SLIK (Scanning System for Credit) That You Must Know Before Applying for Credit

When applying for a loan from a bank or financial institution, one of the determining factors in whether your application is accepted or rejected is your credit history. This history is stored in a recording system known by two terms: BI Checking and OJK's SLIK. Many people still consider the two to be the same, but there are fundamental differences between them, including which system is currently in use. 

Understanding the difference between BI Checking and OJK's SLIK is important to avoid misunderstandings when checking your credit standing, whether for personal or business purposes. This article will thoroughly explore the differences between the two, how to check them, and how to interpret the credit scores they contain.

What is BI Checking?

BI Checking is a credit history recording system formerly managed by Bank Indonesia through the Debtor Information System (SID). This system contains data on the smoothness of credit payments or the collectibility of a customer with banks and non-bank financial institutions. The information recorded includes loan payment status, the amount of credit held, and a history of late installment payments.

Through BI Checking, banks affiliated with the SID can access each other's debtor data to assess the eligibility of prospective borrowers before approving a loan application.

What is the OJK's SLIK?

SLIK, or the Financial Information Services System, is a credit history recording system currently managed entirely by the Financial Services Authority (OJK). SLIK functions to support the OJK's supervisory duties while also providing debtor information services, commonly known as iDeb, to the public and the financial services industry.

Unlike BI Checking, which is limited to banks, OJK's SLIK covers a wider range of financial institutions, resulting in more complete and comprehensive credit history data.

Differences Between BI Checking and OJK's SLIK

Although both function to record and provide credit history information, BI Checking and OJK's SLIK have the following fundamental differences:

1. System Management

BI Checking was previously managed by Bank Indonesia through the Debtor Information System (SID). The OJK's SLIK is now fully managed by the Financial Services Authority (OJK), using a more integrated and modern system.

2. Institutional Coverage and Information

BI Checking generally only records credit histories originating from banks. OJK's SLIK covers a much wider range of financial institutions, including banks, savings and loan cooperatives, finance or leasing companies, and other non-bank financial institutions.

3. Detailed Information Provided

BI Checking only provides basic information about credit and payment status. OJK's SLIK provides more in-depth data, including collateral, credit limits, payment status, contract types, and other relevant information. This additional detail helps financial institutions make more accurate credit decisions.

4. Current Legal Status and Use

Since January 1, 2018, all BI Checking services have officially been transferred to OJK's SLIK. The transition from the BI Checking system to OJK's SLIK aims to improve data management efficiency and expand the scope of credit information in Indonesia.

This means that BI Checking as a system is no longer used, and the OJK's SLIK (Signature Checking System) is the only official reference for checking credit history in Indonesia today.

The term "BI Checking" is still commonly used by the general public, even though the current system is the OJK's SLIK.

BI-Checking and OJK's SLIK Comparison Table 

Important Information in the OJK SLIK iDeb Report

OJK's SLIK, as the sole official reference containing an individual's credit history and information, can be accessed through the IDebKU platform. The Debtor Information Report (iDeb) from the OJK's SLIK contains several important data items that must be understood before conducting a review, including:

1. Basic debtor data

Includes the borrower's complete identity, management structure, and ownership if the debtor is a business entity, as well as the identity of the collateral used.

2. Financial information

Financial data such as credit limit, installment payment history, credit quality or collectibility, interest and fines, loan type, agreement, and agreement date.

Benefits of understanding the iDeb report

Provides a comprehensive overview of an individual's credit standing, helps identify potential risks, and facilitates credit reputation improvement to increase the chances of future loan approval.

That concludes our discussion of the differences between BI-Checking and OJK's SLIK, to help you understand the differences. If you'd like to check OJK's SLIK, you can find the guide here.