Académique Documents
Professionnel Documents
Culture Documents
ROADSHOW:
The Role and obligation
of Co-ops in Enabling
R.A. No. 9510
The
CREDIT INFORMATION
SYSTEM
Project
CREDIT INFORMATIONCORPORATION
CIC-FI-SAE ECOSYSTEM
CIC Processes
Cooperatives and aggregates
can submit and data from
access directly various
from the CIC submitters into
24/7 for loan single user view
assessment files. Matching
and monitoring exposures
purposes across multiple
data sources
into the rightful
borrower
CREDIT INFORMATIONCORPORATION
CIC-FI-SAE ECOSYSTEM
SAE Interacts with Cooperatives
when providing third Party SAE may add data from various
Services other sources to improve analytics
CREDIT INFORMATIONCORPORATION
CIC-FI-SAE ECOSYSTEM
CREDIT INFORMATIONCORPORATION
MILESTONES
2008 Oct Republic Act 9510 passed into law
2009 May Implementing Rules and Regulation
created
2011 Dec Start Operations Date as determined by the GCG in relation to its
privatization mandate.
2013 Nov Bid for systems design and
implementation
2014 Apr Contract for CIS development awarded
2015 Nov Testing and Production Environment
Commissioned
2015 May Release of CIC Circular #1 reiterating the CIC
mandate
2015 Sept Release of CIC Circular #2 with submission
schedule per FI type
2015 Dec Submission of data to Production Database
2016 Mar Board Approval of SAE applicants
CIBI / CRIF / COMPUSCAN / CBS / Transunion / Dand B
S.A.M.E ( Support from the USAID and IFC )
2016 Q2 Testing by Accessing Entities of Data Base
2017 Q1 Target date for use of CIC Data
CREDIT INFORMATIONCORPORATION
DEADLINE OF SUBMISSION
CREDIT INFORMATIONCORPORATION
Current Collection Statistics
Current Collection Statistics
Sample of Credit Report
CHALLENGES AND SUPPORTS
Challenges:
Volume: On-boarding of growing number of Submitting Entities ( a good problem)
requiring hand holding
Data Quality: Updating of customer files by FIs with mandatory identification numbers
Data Quality: Incomplete historical data
Training and Capacity building for smaller FIs to submit data
Supports:
Close cooperation with the BSP
Oversight and guidance by the SEC
Support by USAID and IFC
Positive change mind-set of Submitting Entities as a result of competitive business
climate
Increasing number of technology providers and practitioners interested in traditional
and non-traditional data analytics
Accreditation of Special Accessing Entities to support CIC awareness campaign and
demand generation
CREDIT INFORMATIONCORPORATION