CitySavings Bank (Philippines) Inc., (CitySavings) the thrift bank subsidiary of Union Bank of the Philippines, and a member of the Aboitiz Group, has sealed a partnership with FinScore as one of their technology partners for credit scoring and fraud flagging. With the partnership, FinScore will provide credit scoring for City Savings Banks’ motorcycle loan applicants. The bespoke model is based on over 400 telco variables such as top-up patterns, voice and mobile data usage, duration of calls, SIM card age, and many more
FinScore will also provide fraud detection tools that will allow City Savings Bank to verify details such as the authenticity of the applicant’s declared residence and place of work addresses. The program uses API integration to make real-time inquiries that will help to determine the creditworthiness of applicants.
With FinScore’s highly predictive machine learning technology, CitySavings is now geared up to open more opportunities to approve loans for both banked and underbanked applicants.
About City Savings Bank
City Savings Bank (CitySavings) is the thrift bank subsidiary of Union Bank of the Philippines (UnionBank) and a member of the Aboitiz Group. It is one of the largest thrift banks in the country and provides a range of mass-market financial products and services such as salary loans to public and private school teachers, pension loans to GSIS and SSS pensioners, OFW loans, seafarer loans, motorcycle loans, and traditional deposit products. The bank now has more than 140 branches nationwide.
For more information, visit their website: https://citysavings.com.ph/ or follow the LinkedIn page.
FinScore is a financial technology company in the Philippines that offers a powerful credit scoring platform and fraud detection tool based on alternative data, including telco-based data. As the pioneer in lending and scoring of the unbanked in the Philippines, they continuously empower banks, financial institutions, and credit bureaus with flexible platforms to help them make insightful and reliable credit decisions.
To know more about our credit scoring services, visit https://www.finscore.ph/ or follow us on LinkedIn.