CIBI Information Inc., the Philippines’ pioneering credit bureau, has signed a memorandum of understanding with Korea’s JB Financial Group (JBFG) and NICE Information Service to establish a cross-border credit information sharing system.
The partnership allows Filipino and Korean nationals to use their native country’s credit history to access financial services abroad, promoting seamless and inclusive banking experiences across both countries.
The MOU was signed in Seoul, with CIBI President and CEO Pia Arellano emphasizing the transformative potential of the initiative in her remarks.
“By providing access to essential solutions like credit and background reference checks, we are enhancing and supporting cross-border financial access and empowerment of both Filipino and Korean nationals,” Arellano said.
Through the new system, Filipinos living in South Korea can use their credit data from the Philippines to open bank accounts, apply for loans, or access other financial products, while Koreans residing in the Philippines can do the same using their domestic credit records.
“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 added that services such as MyScore and Negative Records will be made accessible under the initiative, allowing users transparency over their financial standing and improving their eligibility for credit.
“By bridging the credit information gap and providing access to essential credit services, we are not just enhancing cross-border financial access but also driving greater economic opportunities,” she said.
NICE Information Service is Korea’s largest credit information company, offering in-depth financial and corporate data to millions of users.
JB Financial Group, a leading Korean financial services provider, offers a broad portfolio of banking and credit solutions with a strong focus on cross-border collaboration.
Founded in 1982 under the Central Bank of the Philippines, CIBI Information Inc. is accredited by the Credit Information Corporation and serves over 500 institutions across banking, telecommunications, and other sectors.
With more than 200 professionals nationwide, CIBI provides credit reporting, employment verification, and financial literacy solutions, aiming to improve access to financial services for underserved populations.
In 2020, CIBI was acquired by private equity firm Creador and has since partnered with global industry players such as FICO, GDS, and Malaysia’s CTOS to integrate international best practices into the Philippine credit landscape.
CIBI said the agreement marks a major step forward in its mission to support cross-border financial inclusion and strengthen the country’s financial infrastructure.
