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‘FinScore program aims to create better credit scoring models in PHL’

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With the heavy reliance of Filipinos on informal credit, assessing their creditworthiness poses a challenge. State-run Credit Information Corp. (CIC) President and CEO Ben Joshua A. Baltazar said the credit scores of many Filipinos remain undetermined due to the sparsity of scored borrowers.

With the heavy reliance of Filipinos on informal credit, assessing their creditworthiness poses a challenge.

“ could be determined by developing these kinds of programs so that more Filipinos would have positive credit scores,” Baltazar told reporters at the launch of fintech company FinScore’s Credit Risk Academy last May 29. FinScore President and CEO Christo Georgiev told reporters that there are currently 140 registrants from less than 100 companies.

Micro, small and medium enterprises , which comprise 99 percent of business enterprises operating in the Philippines, would also benefit from the academy aside from FinScore’s credit scoring solutions as they tend to have personal loan needs, Georgiev added.

 

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