Connect with us

Hi, what are you looking for?


Mocasa to partner with credit bureau

CREDIT line provider Mocasa on Wednesday said it is looking to partner with the Credit Information Corp. (CIC) to boost financial inclusion.

The partnership with CIC aims to help Filipinos get access to formal banking channels by using Mocasa and giving them a credit score, Mocasa Chief Operating Officer Julien Chien told a news briefing.

Mr. Chien said he expects the partnership to be finalized by the end of this quarter.

Credit bureaus are privately owned and operated reporting institutions that provide consumer credit information to private lenders.

The CIC is a government-owned and -controlled corporation that receives and consolidates basic credit data, acting as a database of credit information.

With the use of a credit database, Mocasa users can build up a credit profile and raise their chances of getting served by other financial institutions, Mr. Chien said.

Mocasa President and Chief Executive Officer Robin Wong said he expects Mocasa to rely more on data from the CIC in the future once the partnership is finalized, instead of requiring a proof of income from credit applicants.

“We will try to change the credit assessment engine to build it on the data of CIC,” he said. “This will be ready in the upcoming one to three years. I believe CIC and other commercial credit bureaus will play a great role for the country.”

A more active central credit bureau will help underserved sectors, Mr. Wong said, adding that building a credit score would let them get served by banks and other financial institutions.

He said a major challenge for the company has been the absence of a central credit bureau, which would help with risk evaluation.

Mr. Chien said Mocasa is planning to launch a reward and cashback program by yearend to increase user retention.

He added that Mocasa would continue to seek out merchants to boost user retention through exclusive discounts and perks.

Mocasa aims to reach three million credit users in three years, with an expected growth to 150,000 users by the end of this quarter and 300,000 users by yearend. — Aaron Michael C. Sy

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



Standing firm against hunger, Globe launches the Longest Hapag— a five-month nationwide food festival series. The campaign kicks off in time for the commemoration...

Editor’s Pick

<?xml encoding=”utf-8″ ??> Retail sales volumes have fallen this month compared with the same period last year, while staffing levels have dropped sharply, a...

Editor’s Pick

<?xml encoding=”utf-8″ ??> Retail sales volumes recovered slightly by 0.5 per cent in April as the sector was lifted by the Easter holidays, however...

Editor’s Pick

<?xml encoding=”utf-8″ ??> The number of small businesses planning to increase prices to their customers is set to rise dramatically this quarter, further fuelling inflationary pressures. A new...

Editor’s Pick

<?xml encoding=”utf-8″ ??> VivaCity, the transport technology scaleup transforming cities into smarter and more efficient places to live and work, has partnered with Transport...

Editor’s Pick

<?xml encoding=”utf-8″ ??> The Google-owned video platform has confirmed that it’s shutting down YouTube Stories in June. Stories first launched in 2018, and allowed...

You May Also Like


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.