Fintech Akseleran Succeeds in Pressing Bad Credit during Pandemic
PT Akseleran Financial Inclusive Indonesia (Akseleran) revealed three recipes in suppressing the rise in problem loans amid the national economic conditions affected by the Covid-19 pandemic.
Ivan Nikolas Tambunan, CEO & Co-Founder of Akseleran explained that the total success rate of loan repayments at the fintech financing company has now reached 99.56%. This means that the Akseleran non-performing loan (NPL) number is now only 0.44%, which incidentally also passed the Covid-19 pandemic. Previously, the Akseleran NPF was still 0.7% at the end of 2019.
“This shows that our NPL trend has actually declined due to several efforts made, so it can be said that the effort was quite successful. In addition, the success rate of return on the 90th day [TKB90] we rose to 97.1%,” he said when confirmed Business, Friday (24/7/2020).
Ivan explained, the decline in non-performing loans was the result of anticipation by Akseleran through tightening the distribution of funding since January 2020, or before the Covid-19 pandemic entered Indonesia.
“Our efforts to reduce the first NPL by shifting portfolios to smaller loans at risk, namely invoice financing, the underlying invoices are waiting to be paid, most of which were in the form of pre-invoice financing with SPK underlying contracts or contracts,” he explained.
For your information, invoice financing means that the business actor has completed his work but has not yet received payment, so he needs capital injection for his liquidity.
Did not Experience a Decrease in TKB90
Akseleran portfolio of financing invoices, which was only 30%, has now turned to dominate to 60% of the total distribution.
However, that does not mean that the Akseleran is starting to ‘anti’ against pre-invoice financing. Ivan explained if the business actor is able to prove that he has good cash flow, the Akseleran will continue to accommodate the loan.
“In addition, we have tightened loan assessments, including several financial ratios that we have applied in our credit scoring model. Thirdly, we have tightened our monitoring and billing efficiency,” he added.
With these efforts, Akseleran also proved itself to be one of the lending peers to peer (P2P) fintech platforms that did not enter into the declining trend of the percentage of the success rate of return on the 90th day (TKB90) in the Financial Services Authority statistics.
The reason, OJK noted the phenomenon of a downward trend in TKB90 during the Covid-19 pandemic, starting in March 2020 where the percentage was still 95.78%, then down to 95.07% as of April 2020, and finally 94.9% in May 2020.
Reducing the Risk of NPLs with FDC
Finally, Akseleran agreed that the integration of Fintech Data Center (FDC) with other P2P lending partners would be able to press even better against NPL risks.
As is known, FDC will integrate the portfolio data of prospective borrowers/debtors, along with their basic data, and borrower credit track records to all P2P lending providers, so as to reduce the potential for problem loans.
“Through FDC we can see whether a debtor has a loan at another fintech, so we can know if he has too many loans. In addition, we can also see the status of the loan, is it smooth or is there late or bad, so we can also avoid debtors which are delinquent,” he concluded.
PT Akseleran Financial Inclusive Indonesia channeled a total business loan of IDR 354 billion during the first half of 2020, which means it grew 6%.
Akseleran CEO & Co-Founder Ivan Tambunan said the business loans were distributed to more than 2,100 loans and most of the growth was supported by performance throughout the first quarter of 2020 which increased by 28% compared to the first quarter of the previous year.
Easing of Large-Scale Social Restrictions (PSBB) and the new normal era also contributed to an increase in the Akseleran of business loans in June, which rose 13% compared to June 2019.