Philippines: The Road Towards Financial Inclusion

CIBI Information, Inc. of the Philippines has published its Annual Report for 2016 on Financial Inclusion

It is a dynamic goal, or probably even a valiant act, owning the challenge of revolutionizing the consciousness of our nation about the advantages of building a good credit history; by influencing the lending institutions in providing, what we call, responsible lending services; and by developing a sustainable credit infrastructure for the country.

Many people still do not realize that the value of having a credit opportunity is synonymous to generating financial power. Creditworthiness is the same as to owning a keycard that can be used in navigating to the society of better possibilities.

Converting the practice from asset-based to risk-based credit system will level the playing field of a small entrepreneur in expanding business possibilities. A credit education to a regular Juan de la Cruz will open the gate to financial literacy. Empowering the credit facilities of lending institutions in small barrios will encourage a humble fisherman in buying better equipment for his bangka so he can fish further out in the sea, have a better catch and earn a better living for his family. These are transformative visions that CIBI partakes in advocating the development of the credit information system in the country.

As the Philippines first and only local credit bureau, CIBI/ knows every Juan better and aims to contribute in the growth of the economy by converting the “unbanked” into bankable individuals; providing tools for efficient credit channel facilities in financial institutions; easing loan application approvals; and helping the financial expansion of MSMEs.

For CIBI, transforming the lives of every Filipinos is as straightforward as performing the responsibilities of a good credit bureau and extending our services up to the farthest regions of the country.