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Manila Bulletin devider Business devider Banking & Finance devider CIBI Philippines partners with Korean firms to streamline international credit access

CIBI Philippines partners with Korean firms to streamline international credit access

Published Apr 7, 2025 06:20 am
CIBI Philippines signs MOU with Korean financial services firms for cross-border credit information sharing(1).jpg
Seen in photo (from left to right). Christopher Mortega, Vice President of CIBI InformatIon Inc., Pia Arellano, President and CEO of CIBI Information Inc., Baek Jong II, CEO of Jeonbuk Bank, and Kim Jong Yoon, CEO of NICE Information Service at the MOU signing held in Seoul, South Korea.

 

CIBI Information Inc., in collaboration with JB Financial Group (JBFG) and NICE Information, has established a credit linkage system between the Philippines and South Korea, enabling nationals from both countries to utilize their home credit information for financial services abroad.

In a statement, Pia Arellano, CIBI Information chief executive officer, said the partnership aims to streamline financial access for Filipinos and Koreans living in each other's countries.

The agreement allows Filipino nationals residing in South Korea to access financial services using their Philippine credit information, and conversely, Korean nationals in the Philippines can use their Korean credit data.

Arellano noted that their initiative enhances and supports the cross-border financial empowerment of both Filipino and Korean nationals by providing access to essential solutions like credit and background checks.

NICE Information, Korea's largest credit information company, specializes in credit bureaus and corporate intelligence, providing comprehensive credit histories and financial data.

JBFG, meanwhile, is a leading Korean financial institution that offers a wide range of financial products and services, focusing on credit rating, banking, and global inclusion.

"As we begin this promising collaboration with JB Financial Group and NICE Information Service, CIBI remains committed to empowering individuals and communities through financial inclusion,” Arellano said.

She said that by bridging the credit information gap and providing access to services like MyScore and Negative Records, the partnership drives greater economic opportunities.

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