JAKARTA, 23 March 2022 – ADVANCE.AI, a leading AI company specialising in digital identity verification, risk management and process automation, has signed a strategic data partnership with PT Semangat Digital Bangsa (SDB), an affiliate of Tokopedia, that provides the first alternative credit scoring based on e-commerce data in Indonesia by prioritising the principles of security and protection of personal data based on applicable regulations.
Through the Toko Score solution, SDB provides alternative credit scores from prospective borrowers by analysing the risk profile of the prospective borrowers based on the activities and transaction behaviour on the e-commerce platform, Tokopedia. These processes are done by prioritising the principles of security and protection of personal data based on applicable regulations. SDB is registered with OJK since 2020 and a member of Asosiasi Fintech Indonesia (AFTECH). SDB's mission is to democratise financial access in Indonesia through technology.
Data from the Indonesian Ministry of Finance in April 2021 stated that 132 million people in Indonesia are still currently unbanked and do not have access to credit or financing from formal institutions. A leader in artificial intelligence, risk management and digital lending solutions, ADVANCE.AI partners over 700+ enterprise clients across banking, financial services, payment, remittance and web3.0. Key clients include Bank Jago, Tokopedia, Bukalapak, MNC Group, Gojek, Standard Chartered and Shopee. ADVANCE.AI’s One-Stop Platform powers real-time operational response and fraud detection with 100+ data points covering credit bureau, telco, social networks, utility, IP and geolocation. The end result is accurate risk decisions, quickly and easily, on one single platform.
Head of Business Development and Marketing of Semangat Digital Bangsa, Evita Soetjoadi, said “Our digital-based Innovative Credit Scoring service makes it easier to assess and provide loans to more Indonesians, especially those who still do not have access to financial services. This strategic partnership with ADVANCE.AI will help to measure in real-time the risk profile of prospective borrowers quickly and more accurately. This is an opportunity for SDB to realise its mission to democratise financial access to everyone through technology., This has even more important role as Indonesia emerges from the current pandemic, to participate and support the financial recovery and financial inclusion.”
Ronald Molenaar, ADVANCE.AI’s Business Development Director for Indonesia, said: “We're excited to partner SDB and their Toko Score solution to accelerate a digitally empowered and financially inclusive Indonesia. Tapping on SDB’s alternative credit scoring data will increase the robustness of ADVANCE.AI’s one-stop platform in Indonesia for our enterprise partners, especially within the banking and financial services industry. This will simplify customer onboarding, risk management and business transformation,with the ultimate end goal of driving greater financial access among the unbanked and underbanked in Indonesia.”
About Semangat Digital Bangsa (SDB)
SDB is an Innovative Credit Scoring (ICS) service provider company affiliated with Tokopedia - part of the GoTo Group - which facilitates the lives of Indonesian people to create opportunities even during the pandemic through the use of technology to drive financial inclusion in Indonesia.
ADVANCE.AI is a leading AI company that provides digital transformation, fraud prevention, and process automation solutions for enterprise clients. A leader in Artificial Intelligence, risk management and digital lending solutions, it currently partners over 700+ enterprise clients across banking, financial services, fintech, payment, retail and e-commerce sectors. ADVANCE.AI is part of Advance Intelligence Group, one of the largest independent technology startups based in Singapore. Founded in 2016, the Group has presence across South and Southeast Asia, Latin America and Greater China. The Group is backed by top tier investors SoftBank Vision Fund 2, Warburg Pincus, Northstar, Vision Plus Capital, Gaorong Capital, Pavilion Capital, GSR Ventures and Singapore-based global investor EDBI.