Consumer demand for credit in the Philippines is growing, but access remains limited due to a persistent trust gap. At the inaugural CIBI Impact 2025 summit, leaders from finance, fintech, and regulation stressed that reliable data and collaboration are key to bridging this divide.
Filipinos are increasingly turning to financing products such as Buy Now Pay Later, which are expanding faster than mortgages, auto loans, and credit cards. By mid-2025, over 10 million credit reports had been accessed, showing greater engagement from consumers. Yet 49% of Filipinos remain unbanked, with only 1% of their loan applications approved due to insufficient data. High delinquency rates and fraud continue to erode confidence in the system.
CIBI executives stressed the importance of trusted data. According to Vice President Ivy Ramirez, quality data allows firms to decide 30% faster, boost efficiency by 25%, and increase profitability by 19%. Trusted data also reduces risk and strengthens business relationships.
The summit underscored that collaboration across regulators, banks, and fintechs is vital. Partners such as FICO, JurisTech, and FinScore presented solutions aimed at expanding visibility and reducing barriers to financing.
CIBI President and CEO Pia Arellano closed by highlighting new initiatives, including the Fraud Bureau and CIBI Advanced Tier platform, to promote transparency and compliance. She stressed that while credit demand is growing, trust must keep pace to achieve financial inclusion.
