QUEZON CITY, Philippines – Island Credit Solution (ICS) and the Philippine Statistics Authority (PSA) have recently formalized a partnership to make accessing credit information more secure and convenient for Filipinos through the integration of the National ID Authentication Services (NIDAS) into CreditMo.
This established ICS, and its credit platform, as the first Special Accessing Entity (SAE) and credit bureau partner successfully integrated with NIDAS.
Powered by ICS, CreditMo is a digital credit platform that enables individuals to access their credit reports and scores, monitor their credit standing, and receive personalized insights and financial product recommendations based on their credit profiles.
With this collaboration, CreditMo users can use their National ID to verify their identity when requesting a credit report. The integration helps ensure that sensitive credit data is accessed by the rightful individual while making the verification seamless.
“This collaboration is an opportunity to translate the capabilities of the National ID into a practical digital application that responds to the needs of Filipinos. It demonstrates how the National ID can make services more convenient, accessible, and inclusive through a more streamlined digital identity verification process,” said PSA Assistant Secretary Rosalinda P. Bautista, Deputy National Statistician of the PhilSys Registry Office.
Making Credit Access More Convenient and Secure
For CreditMo users, the partnership simplifies the process of confirming their identity when requesting their credit information. Previously, users had to complete several steps, including submitting an identification document, confirming their details, and undergoing a liveness check. With NIDAS, the process is now just one quick step using the National ID.
The integration also strengthens the protection of users’ personal information. Instead of relying only on a photo of an identification document, NIDAS allows CreditMo to verify a user’s identity against the National ID database. This helps reduce the risk of fraudulent identification and helps protect the confidentiality of users’ credit records.
Helping Filipinos Understand Their Credit
CreditMo also gives individuals a clearer view of information that can affect their access to financial products and services. Through the platform, users can review their credit report and score, see their credit history and payment behavior, and receive insights based on their profile.
For Alex Zhu, Deputy Chief Executive Officer of Island Credit Solution, this gives individuals a more active role in understanding their credit. Traditionally, credit reports have primarily been used by financial institutions to assess borrowers, while individuals have had less visibility into their own credit profile.
“For decades, credit solutions have largely focused on financial institutions. We believe the next generation of credit solutions should also put individuals at the center. If institutions use a magnifying glass to understand borrowers, our vision is to turn that magnifying glass into a mirror, giving individuals a clearer view of their credit and helping them find ways to improve it,” Zhu said.
With this perspective, users can better recognize how their financial behavior shapes their credit profile and identify areas they can work on over time.
Advancing Financial Inclusion
The partnership also contributes to financial inclusion by giving individuals greater visibility into information that can help them participate more confidently in the formal financial system. By bringing together PSA’s National ID capabilities and ICS’s credit technology, the collaboration shows how public and private sector solutions can work together to meet evolving financial needs of Filipinos.
“This partnership represents a valuable collaboration that supports our collective goal of strengthening trust, transparency, and accessibility within the country’s digital and financial services. Partnerships such as this play an important role in building a more inclusive, secure, and digitally empowered Philippines,” said Atty. Henedine P. Palabras, Officer-in-Charge Assistant National Statistician of the PSA’s Use Case Development and Management Service.
For Island Credit Solution, making credit information more accessible is ultimately about helping Filipinos see the financial opportunities available to them and giving them the confidence to take the next step.
“At ICS, we believe that when Filipinos have access to the right information, they have greater power to take action. That can open doors to financial opportunities,” Mery Singh, Chief of Staff of Island Credit Solution, concluded.
To learn more about Island Credit Solution, visit its website at https://www.islandcredit.tech/. The CreditMo app is also available for download on Google Play and the App Store.
