Tokopedia Affiliate “Toko Score” Ambitious to Facilitate the Financial Industry Credit Risk Score

The group gap is still large unbankable and underserved in gaining access to finance, opening up opportunities for digital players to jump into providing solutions alternative credit scoring. The latest player to inaugurate the presence is Toko Score (PT Spirit Digital Bangsa/SDB) which is an affiliate of Tokopedia.

According to data from the Ministry of Finance in April 2021, there are around 132 million people and 46 million MSMEs in Indonesia who are still classified as unbanked and do not have access to credit or financing from formal financial institutions.

Head of Business Development and Marketing SDB Evita Soetjoadi explained, Toko Score provides credit assessments from prospective borrowers to strategic partners, in this case financial service institutions such as banks, financeand P2P fintech, by analyzing the risk profile of borrowers based on the activities and transaction behavior of prospective borrowers on Tokopedia.

"Currently we are still focused on the buyer, but we are in the process of preparing Toko Score assessment products for sellers or seller at Tokopedia. This is because the current need for credit is still dominated by consumptive needs," he said Bisnis.com.

Every seller and buyer Those who register on Tokopedia will be detected by Toko Score. The hope is that when users enter the new Tokopedia ecosystem, unbankable and underserved This can be helpful in the future when you intend to apply for access to credit.

“So we are trying to help answer the problems that lenders are facing. Especially, when they receive credit applications from three community groups unbankable, but have difficulty assessing credit risk because they cannot find their historical data in the credit bureaus.”

The three groups in question are: first jobber, MSMEs who do not have a history of working capital loans, and self-employed (./ informal) who need access to credit to improve skills.

Alternative data used by SDB to form an assessment, including the value of buying and selling goods at Tokopedia, relevance wishlist & categories of products purchased with loan requirements, conversations with shops, amount device, and much more. The data is analyzed with AI technology and algorithms machine learning to obtain a risk profile analysis of potential borrowers.

The scheme is, if there is a financial service institution that is difficult to find the borrower's history in the credit bureau, Toko Score can be directly accessed by the team credit risk in the company. Various data points collected by Toko Score, is expected to help strategic partners get more comprehensive credit analysis results. This advantage is the strength of SDB compared to similar players.

The credit score is given in the form of a value (score), so as to maintain the confidentiality and security of the prospective borrower's data," said Evita when contacted DailySocial separately.

In addition to the Score Store, SDB also provides options verification score, that is PhoneScore and AddressScore, to help financial service institutions verify the addresses and phone numbers used by prospective borrowers in the Tokopedia ecosystem.

"Same as credit score, verification score is also given in the form of value (score) in order to maintain the confidentiality and security of the data of prospective borrowers and continue to prioritize the principles of security and protection of personal data based on applicable regulations.”

Evita said that in the future SDB will continue to innovate and collaborate with as many strategic partners as possible, including financial service institutions so that more people can have access to finance.