Indonesia's Financial Services Authority (Otoritas Jasa Keuangan, OJK) and Indonesia's Ministry of Finance held a joint webinar on strengthening the role of Alternative Credit Rating Providers (Pemeringkat Kredit Alternatif, PKA) as a tool to broaden access to finance, particularly for micro, small and medium-sized enterprises (MSMEs), and to support financial market deepening. In opening remarks, OJK executive Hasan Fawzi framed regulatory strengthening, greater use of alternative data, and cross-stakeholder collaboration as key enablers for reaching segments underserved by banks. He pointed to rapid growth in PKA usage, including higher volumes of credit data inquiries and more collaboration between PKA providers and financial institutions, and positioned PKA as a practical solution for MSMEs that face credit constraints due to limited formal documentation despite productive economic activity. Ministry of Finance official Masyita Crystallin emphasised that financing barriers often reflect unstructured or unreadable data rather than lack of creditworthiness, and argued that behavioural data-based approaches can close the data gap and make credit assessment more objective, inclusive and accurate.
OJK 2025-12-10
Indonesia's Financial Services Authority and Ministry of Finance promote wider use of alternative credit rating providers to expand MSME financing
Indonesia's Financial Services Authority (OJK) and the Ministry of Finance hosted a webinar on enhancing Alternative Credit Rating Providers (PKA) to improve financial access for MSMEs. OJK's Hasan Fawzi highlighted regulatory strengthening, alternative data use, and collaboration as key to serving underserved segments, while Ministry official Masyita Crystallin advocated for behavioural data to improve credit assessments.