Credit scoring may help lessen 'unbanked' Filipinos


Posted at Nov 20 2017 03:05 PM

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MANILA - Increasing Filipinos' awareness on their credit worthiness can entice them to transact with banks rather than with informal lenders, a credit score provider said Monday.

If more Filipinos get credit scores, the number of people with bank accounts could double to nearly half the population, said Consumer Creditscore CEO Danilo Mojica.

"The road towards financial inclusion takes a few steps, in our case, to make sure that the people know what credit scores are, why they are there and why it would benefit them - that includes a lot of education," Mojica said.