OJK tells finance companies not to rely on SLIK alone after IDR 1 million threshold

Implications for lenders

Because SLIK debtor reports now cover only facilities above IDR 1 million, lenders may need to collect information on small debts directly and through alternative data before approving small-ticket credit. With online lending TWP90 at 4.73%, limit-setting and collection policies for new borrowers can be reviewed against the narrower bureau view.

Implications

Facts

The rule change: in a press release dated 6 July 2026, Otoritas Jasa Keuangan (OJK) set a threshold so that debtor information in SLIK, its credit information system, covers only financing facilities worth more than IDR 1 million, to make the information used in credit analysis more proportionate and relevant. ¹ From 1 July 2026, financial institutions must update the record of a repaid loan within 3 working days of repayment. ² OJK presented the changes as support for MSME financing and the government's housing programme. The release cites no regulation number and does not say whether facilities at or below the threshold are still reported to OJK or only left out of debtor reports.

Scale: SLIK had 2,169 reporting institutions in July 2026, including banks, finance companies, venture capital firms, microfinance institutions, pawnshops and savings-and-loan cooperatives. ³ Requests for debtor information (iDeb) averaged about 31 million a month, with a peak of 35.3 million in April 2026. ⁴

OJK's statement: Agusman, OJK's chief executive for supervision of finance companies, venture capital, microfinance and other non-bank lenders, said in remarks reported on 15 October that finance companies should not rely only on credit scoring or credit history and should assess debtors' ability to pay comprehensively, including through alternative credit scoring. He acknowledged that risk always remains. He said credit limits are each company's business decision, so the SLIK change does not automatically require new limits, and that OJK is monitoring funding-limit adjustments at online lending (pindar) platforms and their effect on credit risk.

Analysis

Small loans and arrears: the threshold matters most for small-ticket lending, where many online and BNPL loans sit. Online lending arrears over 90 days (TWP90) rose to 4.73% in August, up from 4.32% in July. ⁵ A borrower with several loans below the threshold can now look cleaner in debtor reports than their total commitments suggest, which is the gap OJK is asking lenders to fill with their own analysis.

Malaysia uses a threshold in a different way: under the Consumer Credit Act 2025, BNPL providers must assess an individual consumer's affordability for credit above RM1,000, ⁶ taking existing bank and non-bank credit into account. Indonesia's threshold instead narrows what the central database shows lenders about small debts, which shifts more of the burden onto each lender's own data.

Counterpoints and uncertainties

The press release cites no regulation number and does not describe how the threshold is applied, so whether sub-threshold facilities remain visible to lenders in another form is not clear. The change aims to widen access to housing and MSME credit, and faster repayment updates may offset part of the information loss. OJK says credit limits remain a business decision, so the effect on approval standards depends on each lender.