Connect with us

Hi, what are you looking for?

HEADLINES

Credit bureau agency CIBI partners with ADVANCE.AI to expand business in Phl

Philippines’ credit bureau agency CIBI Information Inc (CIBI) signed a strategic partnership with ADVANCE.AI, a Singapore-headquartered AI and big data company, to use innovative AI and computer vision technology to expand business intelligence support and services for local businesses in Philippines.

Philippines’ credit bureau agency CIBI Information Inc (CIBI) signed a strategic partnership with ADVANCE.AI, a Singapore-headquartered AI and big data company, to use innovative AI and computer vision technology to expand business intelligence support and services for local businesses in Philippines.

First set up in 1982 as the Credit Information Exchange System attached to the Central Bank of the Philippines, now the Banko Sentral ng Pilipinas (BSP), CIBI was privatized in 1997 and provides data, credit reporting and information management services and analytics for consumers and business entities. 

Marlo R Cruz, President and CEO of CIBI Information Inc, said: “As a forward-looking and digital-first organization, CIBI always looks to be one step ahead. This partnership with ADVANCE.AI facilitates our mission to give Filipino businesses easier access to a range of business intelligence services, including credit and data reporting through a more efficient internal system. This marks the beginning of more opportunities for CIBI, as our partners enrich our capabilities and innovations.”

Dong Shou, CEO of ADVANCE.AI, said: “Our market-leading AI and computer vision technology will allow CIBI to expand its range of critical business data and intelligence reporting solutions, with the ultimate aim of better supporting underbanked and underserved businesses in the Philippines. This is more important than ever in the current COVID landscape, as we help accelerate the digitalization of the economy, and in doing so, help millions of Filipinos and businesses gain access to new financial products and services.”

ADVANCE.AI, a leading AI and big data company in Asia, enjoyed strong growth in 2020, aided by the acceleration of digitalization of the banking and financial services sectors across Southeast Asia, India and mainland China. Headquartered in Singapore, it currently partners 1,000 enterprise clients including large multinational banks and financial services organizations, as well as regional fintechs, payments, retail and e-commerce platforms that are looking to digitally transform operations, manage risk and optimize resource efficiency.

The company’s holistic suite of products cover three key areas: digital identity verification and eKYC customer onboarding, risk management and digital lending solutions. It is now expanding into markets such as Mexico, UK, Europe and the US.

Advertisement. Scroll to continue reading.

Advertisement
Advertisement
Advertisement

Like Us On Facebook

You May Also Like

Biz Solutions

SMB Launch Pad gives schools, businesses and organizations the tools necessary to thrive without the burden of an upfront cost. The program provides packages...

HEADLINES

Based in Switzerland with its regional headquarters for South-East Asia in Singapore, discovermarket provides embedded insurance solutions to over 200 million customers across diverse...

HEADLINES

Skyro Pocket users may also enjoy the first six months free of charge, followed by a nominal fee of ₱ 59 per month thereafter.

HEADLINES

The expanded relationship spans bidirectional data integration, flexibility in large language models (LLMs), prebuilt actions and prompts for CRM solutions, and a further commitment...

HEADLINES

The report evaluated 14 high-end all-flash products by referring to the Cybersecurity Framework (CSF) 2.0 of the National Institute of Standards and Technology (NIST).

HEADLINES

Anchored on the PLDT Group’s purpose, mission, vision, and values of creating a happy space and using technology to build and empower bridges of...

HEADLINES

Running until June 5, 2024, the Smart Summer Sale will take place at 18 Smart Stores nationwide, including CDO Limketkai, Festival Mall, Market Market,...

HEADLINES

The new branch is the first store to bear the freshest design, showing the brand’s commitment to innovation.

Advertisement