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.