ADVANCE.CBP, a Special Accessing Entity regulated by the Credit Information Corporation (CIC), has opened a new office in Makati and announced a product roadmap aimed at expanding financial inclusion in the Philippines.
A ribbon-cutting ceremony to mark the opening was officiated by Ben Baltazar, President and Chief Executive Officer of the CIC. The event also saw the introduction of Michelle Anne Chan as the new Country Manager for both ADVANCE.CBP and ADVANCE.AI Philippines.
The Makati office launch is positioned as a significant development, with the company unveiling plans to deliver detailed credit reports, advanced credit scoring solutions, and summarised credit insights. These offerings will draw on a wide range of data, including traditional credit histories as well as alternative data from sources such as telecommunications, e-commerce, and digital transactions.
According to the company, the new solutions will assist lenders in automating credit decisions, improving risk modelling, and streamlining manual credit reviews. ADVANCE.CBP described itself as a one-stop data solutions provider in partnership with ADVANCE.AI, integrating CIC credit information with additional alternative data for comprehensive credit risk assessment and identity verification.
Machine learning models and enriched credit reports developed by ADVANCE.CBP are intended to help financial institutions improve the accuracy of risk assessments, increase approval rates, and reduce bad debt.
Michelle Anne Chan, Country Manager for ADVANCE.CBP and ADVANCE.AI Philippines, stated: "Our goal is simple yet powerful: ADVANCE.CBP aspires to be an industry leader and positive disruptor in the credit information space. Traditional credit assessment models are no longer sufficient and fit-for-purpose in today's digital economy. What's needed now is the ability to extract deeper, smarter, more powerful credit insights to expand effective and responsible access to digital financial services, especially among underserved populations and communities."
CIC President and CEO Ben Baltazar also commented on the new office and the company's plans. "The CIC welcomes ADVANCE.CBP's commitment to enhancing the accessibility, quality, and relevance of credit information in the Philippines. This is critical in strengthening the foundation of our financial ecosystem, expanding credit opportunities for underserved sectors, and supporting the country's broader digital and economic development."
The company aims to use its technology and data-driven approach to make credit assessments smarter, fairer, and more widely accessible for people across the Philippines.
ADVANCE.CBP is an accredited Special Accessing Entity (SAE) regulated by the Credit Information Corporation (CIC), providing reliable and actionable credit information in the Philippines. Together with ADVANCE.AI, ADVANCE.CBP delivers proprietary, end-to-end digital onboarding and credit information solutions. These integrate identity assurance with real-time, reliable credit data - empowering local customers and businesses with valuable credit insights and robust fraud detection capabilities.
