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SKORKU accelerates credit approvals

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March 31 2020
Press Release

SKORKU accelerates credit approvals

PT. Kredit Biro Indonesia Jaya (“KBIJ”) as a private credit bureau licenced by Indonesia Monetary Authority (OJK) is pleased to announce the introduction of “SKORKU” to the Indonesia financial market, making it the first Indonesia consumer score developed using real credit data (credit bureau data) and state of the art machine learning algorithm. The score model is developed by KBIJ’s technology partner, OneConnect Financial Technology Co., Ltd. (NYSE: OCFT), a leading technology-as-a-service platform for financial institutions.

“SKORKU” is a three-digit scoring system, ranging from 470 to 710, that summarizes all information beyond the credit report, into a single score. Information about a borrower’s demography, length of credit history, repayment patterns and types of credit are used to measure the borrower’s potential credit risk and predict the likelihood of defaulting on repayments.
“SKORKU” is developed to provide lending institutions with a bureau-based risk profile to assess new credit applicants, both with and without credit history, and make more informed and accurate credit decisions. It enables lending institutions to quickly assess the quality of credit applicants and allows decisions to be consistent. Compared to the traditional internal application score, “SKORKU” is potentially able to improve approval rate by approximately 20% to 60% and reduce non-performing loan rate by approximately 10% to 40% for a given approval rate. Its application can reduce costs significantly caused by defaulted loans.
Mr. Hendra Tan, President Director of PT. OneConnect Financial Technology Indonesia, said: “‘SKORKU’ is the first product jointly developed by OneConnect and KBIJ. We are glad to be the trusted expert to engineer ‘SKORKU’ using our bank-grade credit scoring solutions. OneConnect has served over 3,700 customers including all of China’s major banks. Our lending platform has collectively reached hundreds of millions of end-customers and on a daily basis, facilitated over 4.2 million credit risk assessments. We use machine learning algorithm that crunches a wide spectrum of data and converts them into meaningful credit scores, thereby generating highly granular borrower personas quickly and accurately. We look forward to building and launching more useful products with KBIJ in the future to help financial institutions, businesses and people in Indonesia to unlock opportunities with greater financial abilities.”
Mr. Andreas Budianto, Chief Operating Officer, PT. Dana Kini Indonesia, a subsidiary of Kawan Lama Group said: “Dana Kini welcomes scoring products that support credit decision in almost real time basis like SKORKU.”
By using SKORKU through a proprietary B2B solution, lending institutions will also be able to streamline and expedite the credit approval process, bringing the credit approval time horizon down to matter of minutes instead of days.
In addition to providing scoring solutions, KBIJ’s expertise lies in operating an accurate database of credit related information and providing quality value-added services such as analytics report and portfolio monitoring. These value-added services can be used to enhance the lending institution’s internal risk management policies and procedures. By using these services, lending institutions can rapidly reduce their non-performing loan rate and improve the financial performance of their loan portfolio.
According to Mr. Dinno Indiano, President Director of KBIJ: “Private Credit Bureau is a common feature of modern banking and financial industry in all parts of the world. We are glad to be part of this significant milestone in enhancing Indonesia’s banking and financial industry.”
For more information, please visit
For more information, please contact:
Michael Hadi
PT. Kredit Biro Indonesia Jaya
Tel: +62 816 1820 341
For media queries on OneConnect:
Alicia Neo
Public Relations Manager
OneConnect Financial Technology
Mobile: +65 8200 0022
About PT. Kredit Biro Indonesia Jaya (KBIJ)
KBIJ is the first LPIP to be issued an operational licence by OJK on 22 December 2015.
It aims to provide a common platform for lending institutions to share and obtain an individual or a corporate’s credit payment information under authorised conditions. In doing this, the bureau helps lending institutions to improve the quality, speed and objectivity of lending decisions.
KBIJ’s shareholders and its experienced team have implemented world-leading credit bureaus in Singapore, China, Cambodia, Australia, New Zealand, Malaysia, Saudi Arabia and other countries using leading edge technical solution provided by a globally recognized leader in the field of credit reporting systems and software.
About OneConnect Financial Technology
OneConnect Financial Technology Co., Ltd. (NYSE: OCFT) is a leading technology-as-a-service platform for financial institutions. The Company’s platform provides cloud-native technology solutions that integrate extensive financial services industry expertise with market-leading technology. The Company’s solutions provide technology applications and technology-enabled business services to financial institutions. Together they enable the Company’s customers’ digital transformations, which help them increase revenue, manage risks, improve efficiency, enhance service quality and reduce costs.
The Company’s 13 technology solutions strategically cover multiple verticals in the financial services industry, including banking, insurance and asset management, across the full scope of their businesses — from sales and marketing and risk management to customer services, as well as technology infrastructure such as data management, program development, and cloud services.


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