Bookkeeping app operator to tap CIC’s credit scoring

By Cai U. Ordinario @caiordinario

FINANCIAl management app operator lista Bookkeeping l i sta said that through this partnership, their users can obtain their credit scores and gain access to a range of credit services, paving the way for enhanced financial opportunities. This service is available to lista users as a premium feature worth P199.

App Inc. has partnered with CIBI Information Inc. (CIBI) to gain access to the credit data of Credit Information Corp. (CIC) as a “nonaccessing entity,” or NAE.

By being authorized as an NAE, lista bolsters its credibility and allows its clients to access comprehensive and up-to-date credit scores, empowering them to make informed financial decisions.

“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,” CIBI President and CEO Yolanda U. Zubieta said.

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 Bangko Sentral ng Pilipinas (BSP), it was discovered that a significant proportion of adults, approximately 70 percent, lack access to vital financial services, including savings accounts, and credit facilities.

The study also revealed that an alarming 57 percent of Filipinos rely on informal sources for borrowing, with 44 percent resorting to seeking financial assistance from their own family and friends.

Data, technology lISTA advocates for expanding access to credit scoring as a means to empower Filipinos and break free from reliance on informal lenders, the firm said. 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.

“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,” lista Co-Founder Aaron M. Villegas said.

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.”