The Credit Information Corp. (CIC), a government-owned and controlled corporation tasked to collect and disseminate credit information, accredited JuanScore as a special accessing entity (SAE).
SAEs are private corporations engaged in the business of providing credit reports, ratings and other similar credit information products that are entitled access to the CIC’s pool of consolidated basic credit data.
The accreditation authorizes entities to use, retrieve and evaluate the credit data that have been submitted to the CIC for the development of value-added products and services.
“We are pleased to accredit JuanScore as an SAE since we believe Finvolution’s leadership in advanced AI and decades-long credit scoring experience in Asia will level up how credit information is processed and used in the Philippines,” said CIC president Ben Baltazar.
“JuanScore aims to transform the credit bureau industry by embedding advanced technology that can accurately assess the creditworthiness of every Filipino. JuanScore will also educate Pinoys on the importance of a good credit history by being responsible borrowers and users of various financial services. This will lead to greater financial inclusion which will eventually lead to financial empowerment” said JuanScore chairman Francisco Mauricio.
“By having a credible and nationally recognized credit score, Pinoys will have quicker, easier, and sustained access to financial services which will eventually lead to prosperity and a higher quality of life. This is JuanScore’s mission and we are committed to making this a reality,” Mauricio said.
JuanScore is a subsidiary of the FinVolution Group, a fintech company established in 2007 and listed with the New York Stock Exchange (FINV).
Finvolution has developed award-winning credit scoring systems utilized by over a hundred financial institutions across Asia.