Manila, Philippines – CIBI Information, Inc (CIBI) and FinScore, two prominent players in the financial services industry in the Philippines, are excited to announce their strengthened collaboration aimed at enhancing financial inclusion through innovative data solutions.
CIBI, a leading credit bureau specializing in fraud prevention, credit assessment, and identity verification, has been partnering with FinScore, a pioneer in alternative credit scoring solutions, for nearly three years. Together, they have been developing value-adding services for financial institutions, particularly focusing on the unbanked and underserved segments of the market.
“We are thrilled to deepen our collaboration with FinScore,” said Yolanda Zubieta, President CEO at CIBI. “By leveraging both traditional and alternative data, we aim to empower financial institutions to better serve a wider range of customers, including those who have limited access to formal credit.”
FinScore’s Country Manager and Chief Operations Officer, Christo Georgiev, expressed his enthusiasm, stating, “FinScore is honored to be an Early Adopter towards a financially inclusive future. Our mission is to transform the unbanked and underserved into thick-file clients with the power of alternative data and analytics.”
With FinScore’s expertise in generating real-time telco credit scores using non-traditional data sources such as texting patterns and SIM card data, coupled with CIBI’s robust credit information infrastructure, the partnership is poised to make significant strides in driving financial inclusion in the Philippines.
This collaboration comes at a critical time when access to formal banking services remains a challenge for many Filipinos. According to a report from the Bangko Sentral ng Pilipinas, only three out of ten adult Filipinos have access to formal credit. By integrating traditional and alternative data, CIBI and FinScore aim to streamline application processes and provide financial education, ultimately enhancing access to financial services for consumers.
For more information about FinScore, please visit www.finscore.ph/.
To learn more about CIBI, visit www.cibi.com.ph.
