Jakarta, June 7, 2022 – Semangat Digital Bangsa (SDB), the first e-commerce-based provider of innovative credit scoring (ICS) and an affiliate of Tokopedia, has struck up a strategic partnership ADVANCE.AI, a leading digital identity verification, risk management, and process automation AI company, to accelerate the adoption and implementation of ICS services that can assist financial service providers in creditworthiness analysis and data validation of prospective borrowers.
ICS services provided by SDB include Toko Score, which analyzes the risk profile of potential borrowers and provides alternative data-based credit assessment to strategic partners, such as financial service providers, and Income Prediction, which estimates the income value of prospective borrowers to assist strategic partners in assessing borrowers’ capabilities.
On the other hand, Address Validation and Phone Validation provide data validation services of prospective borrowers' addresses and phone numbers and help in the verification process for strategic partners. Fraud Flags also provides information if a prospective borrower behaves or acts suspiciously on an e-commerce platform.
All services are evaluated based on the behavior of prospective borrowers on the e-commerce platform Tokopedia by prioritizing security and personal data protection principles in compliance with current regulations. Strategic partners can obtain a borrower risk profile for all of these services online and in real-time, helping them make credit decisions quickly and accurately.
"This digital ICS service is expected to make it easier for our strategic partners in the financial industry to assess and provide loans to the broader Indonesian community, especially those who do not yet have access to financial services. A range of service options can be selected and tailored to the needs of each strategic partner, allowing us to increase the number of clients while maintaining a good risk profile,' said the Head of Business Development and Marketing Semangat Digital Bangsa, Evita Soetjoadi.
Business Development Director for Indonesia ADVANCE.AI, Ronald Molenaar, said, "We are excited to partner with SDB and Toko Score services to accelerate digitalization and drive financial inclusion in Indonesia. The collaboration will simplify customer onboarding, risk management, and operational innovation, with the ultimate goal of improving access to finance for the unbanked and underbanked in Indonesia."
According to April 2021 data from the Ministry of Finance of the Republic of Indonesia, 132 million people in Indonesia are currently classified as unbanked and without access to credit or loans.
"This strategic partnership with ADVANCE.AI is also an opportunity for SDB to fulfill its mission of improving access to financial services for all through technology,” added Evita.
Semangat Digital Bangsa (SDB) itself is registered and supervised by the Digital Financial Innovation Group of the Financial Services Agency (OJK) to ensure that strategic partners can safely use ICS Toko Score services. SDB is also a member of the Indonesia Fintech Association (AFTECH) as the Association of Digital Financial Innovation Providers.
***