The Philippines is the country with more than 7 100 islands in South East Asia having its population of about 115,5 million (2022 data) people. Despite heavy Data privacy and AML policies, The Philippines has a foreign investments friendly environment, which attracts a lot of investors from different countries with Singapore, Japan. Netherlands, UK and US being top 5 investors (2022).

About The Philippines

In 2021 the Philippines’ government came up with the first interest rate cap for short term loans, which resulted in margin cuts and business model re-thinking. The Philippines’ market is quite rich with the data, however this data is more suitable for big long term loans rather than the short term ones. The cost of both - Credit Reference Bureau and alternative data providers is relatively high with not so good Informative Value for the short loans. Another challenge is the coverage of the National ID cards, which started a full implementation in 2020 with the plans of full coverage within the next 5 years.

In the Philippines we have the alternative data platform, which can provide the transactional data from the payment gateways. The information we provide is completely raw having transactions amounts, dates and other parameters. Having reasonable cost, this data is an excellent addition to the scorecards or knock-out rules for the short term or modest amount lenders. The solution is fully compliant as the lenders are requesting the consent from their customers’ side before calling our APIs. The APIs are very easy to integrate and request-response time is a few seconds. More about our solution in the Philippines here.

Business environment

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