CIBI-FICO synergy to elevate credit scoring in the Philippines
CIBI Information, Inc.TM (CIBI), and Consumer CreditScore (Phils.) held recently an important event at the Makati Shangri-La Hotel, with the title “Adding Value to Data”. The purpose of event was to engage key clients in a group discussion on about the role of data in the digital age and acknowledged its role as the “lifeblood” of many industries, especially financial credit and credit management. The group discussion was led by Dr. Andrew Jennings, Senior Vice President for Scores and Analytics of the Fair Isaac Corporation (FICOTM).
Dr. Jennings firmly believes that FICOTM is in the best position to transfer its acquired knowledge and expertise to various countries, such as the Philippines. Moreover, his presence here in the country was marked as validator of the constantly evolving CIBI-FICO synergy through the credit bureau services. “The Philippines is part of the FICO score family,” Jennings shared. “What we’ve done is take all our accumulated knowledge and apply it to the specifics of the data here in the Philippines, so in a way, you get the best of both worlds from what we bring.”
Introduction of the myScoreTM: The CIBI-FICO Score
Among the many innovations of the CIBI-FICO partnership is myScoreTM: The CIBI-FICO Score, a tool designed to generate accurate data faster, allowing banks and other finance institutions to evaluate the credit score of their clients more efficiently. It combines the local and global expertise of both CIBITM and FICOTM to create a platform that enables effective decision-making for banks and other financiers all over the world. Using myScoreTM: The CIBI-FICO Score drives greater financial inclusion for clients, according to CIBI president and CEO Marlo Cruz.
Source: CIBI Philippines – to read the full report, please click on this link: Getting Ahead of the Curve – CIBI-FICO Synergy to Elevate Credit Scoring in the Philippines