Metrobank Group’s Orix Metro, a leasing and finance corporation, plans to unveil more loan products to underserved Filipino entrepreneurs under its new partnership with CIBI Information Inc., a credit reporting bureau.

“By leveraging CIBI’s deep database of credit information, we will be able to make more informed, data-driven decisions. With CIBI’s support, we are confident that we can further improve the quality and accessibility of our financial services,” ORIX Metro president Angelo Padua said.

CIBI uses alternative financial data about consumers and artificial intelligence to create credit scores of potential borrowers which indicate their financial capabilities.

Inclusion device

Under the law, CIBI is allowed to collect consumers’ financial and personal data with their consent from banks, quasi-banks and other entities providing financial services.

CIBI maximizes its technologies to help unbanked Filipinos, who mostly do not have formal records of credit history, access loans and protect businesses from fraudsters.

“With our comprehensive credit-related services, ORIX Metro will be able to strengthen its credit risk assessments, ensuring that they offer financial products and services that are well-suited to the needs of their clients,” CIBI president and chief executive officer Pia Arellano said.

Orix Metro has over 90 branches across the country. Most of them or 90 percent are located in the provinces where many small and medium enterprises seek financing options.