CREDIT Information Corp. (CIC), the country’s public credit registry and repository of credit information, recently added Grab Financial Services Philippines Inc. (part of Grab Financial Group) as one of its Access Units (AEs).
AEs are financial institutions authorized by the CIC to access borrower credit reports from its database. Similar to other AE’s, Grab Financial Services now has direct access to borrowers’ comprehensive credit reports, which will speed up the process of lending to their consumers.
“Given its diverse customer base, the inclusion of Grab Financial Services as an AE in the CIC is a very welcome development. As AE, Grab Financial will be able to leverage the CIC database, which now contains 31.4 million unique data subjects and 110.5 million contracts as of February 2022, in their lending decisions for the benefit of their borrowers,” shared Ben Joshua Baltazar , President and Chief Executive Officer, with.
Grab, a leading super app in Southeast Asia, has millions of users in the Philippines. It offers consumers everyday added value through a wide range of services such as mobility, grocery, grocery and parcel delivery, and financial services.
Through the Grab Financial Group, Grab also offers its driver, delivery and trading partners simple, transparent and flexible financial products. These include offline and online loans, purchase financing, fuel cards for driver partners and working capital loans for dealers.