TO help more Filipinos gain access to their credit scores, Lista, the fastest-growing financial management app in the Philippines, has entered into an agreement with the country’s leading credit bureau, CIBI Information Inc.
The Credit Information Corporation, the country’s sole public credit registry and repository of credit information, authorizes Lista to access CIC credit data through CIBI as a Non-accessing Entity. By being authorized as an NAE, Lista further solidifies its standing as a trusted and reliable platform for credit information, bolstering its credibility within the industry. With this authorization, Filipinos can confidently rely on Lista to access comprehensive and up-to-date credit scores, empowering them to make informed financial decisions.
Additionally, through this strategic partnership with CIBI, Lista users can conveniently obtain their credit scores and gain access to a range of credit services, paving the way for enhanced financial opportunities. All of these benefits are available to users at an attractive introductory price of only P199.
The power of credit for greater financial inclusion
Credit scores play a crucial role in assessing an individual’s creditworthiness and the likelihood of repaying loans and credit card debts. According to a recent financial inclusion survey conducted by the Bango Sentral ng Pilipinas (BSP), it was discovered that a significant proportion of adults, approximately 70%, lack access to vital financial services, including savings accounts, and credit facilities. The study also revealed that an alarming 57% of Filipinos rely on informal sources for borrowing, with 44% resorting to seeking financial assistance from their own family and friends.
Lista advocates for expanding access to credit scoring as a means to empower Filipinos and break free from reliance on informal lenders.
Moreover, this initiative has the potential to create a financial environment that benefits a greater number of individuals by offering safer and more readily available financial services.
On the importance of the partnership with CIBI, Lista co-founder Aaron Villegas said “Lista was created to help Filipinos easily create and maintain good personal financial habits. By making it easier for anyone to request a credit score through the Lista app, our partnership with CIBI empowers more Filipinos to become financially visible and use the power of credit to achieve significant life goals such as buying a home, financing an education, or starting a business.”
Yolanda Zubieta, president and CEO of CIBI said, “At CIBI, our work is dedicated to creating innovative digital solutions that help individuals and businesses make better lending decisions. We are excited to partner with Lista to promote good credit-building habits and advance our shared goal of greater financial inclusion across the country.”
Your personal credit score in just a few clicks
By subscribing to the Credit Score service on the Lista app, a few clicks are all it takes for users to request their credit scores, discover the contributing factors that helped determine their values, and learn tips on improving them. Through this premium feature, users also gain access to their personal Credit Score Trend which shows how their credit scores have performed in the span of six months.
“The addition of the credit score feature to Lista is the next step in our goal to equip Filipinos with the right tools to simplify financial management,” said Khriztina Lim, Lista co-founder. “Through data and technology, Lista makes it possible for anyone to take control of their finances and enable them to use the best possible financial services to unlock a better quality of life.”