TransUnion Philippines, a credit research and solutions provider, has expanded consumers’ access to credit scoring and tips on financial management through the mobile app Lista.
TransUnion on Monday said it recently partnered with Lista to enable Filipinos to request their credit scores and reports from the former company and receive them quickly as fast as five minutes using the app.
Apart from this, the app shares ways on how consumers can increase their credit scores so they can access new loans easily and receive more friendly loan terms.
TransUnion’s integration into the Lista app marks a ‘strategic partnership which supports the national government’s goal of becoming an upper middle-income economy.’
“By leveraging our strengths in information and insights to empower individuals and businesses in decision-making, alongside Lista’s digital finance management platform, we can enhance credit access, improve financial literacy and promote greater financial inclusion in the Philippines,” TransUnion chief operating officer for Asia-Pacific Amrita Bhattacharya, said.
Cracking data
TransUnion works with firms in multiple industries to analyze financial data from banks, telecommunications providers, utilities firms, financial technology firms and retail organizations.
TransUnion said 40 percent of the adult population now own credit cards or a 15 percentage point increase from the level last year. It projects card billings to grow by 17.2 percent by year-end as household consumption remains robust.
“At Lista, we are committed to fostering financial literacy by helping Filipinos recognize the importance of fiscal responsibility as early in their financial journeys as possible,” Lista chief operating officer Khriztina Lim said.
As more Filipinos practice responsible spending, Bhattacharya said TransUnion’s integration into the Lista app marks a “strategic partnership which supports the national government’s goal of becoming an upper middle-income economy.”
