Thrift bankers urged to tap data sharing system
By Donnabelle L. Gatdula (The Philippine Star)
Updated June 9, 2013 - 12:00am
MANILA, Philippines - The Chamber of Thrift Banks (CTB) is urging its
members to tap into the positive data sharing system (PoDS) of the
Bankers Association of the Philippines (BAP) to improve their capability
to assess credit information of their borrowers.
CTB president Jose Teodoro Limcaoco said various initiatives have been
carried out to push for the utilization of the PoDS.
"CTB members may now gain access to this PoDS system. The PoDS' main
objective is to provide collaborative loan information to individuals
with personal or salary loans throughout the financial institutions,"
Limcaoco, concurrently BPI Family Savings Bank president, said.
"With that information to be provided by the system, thrift banks will
be able to avoid borrowers' delinquency or debt over burden and make
them more equipped in providing credit decisions. Initially, PoDs will
start out with personal and salary loans and credit cards data and
eventually they hope to go to auto loans and housing loans," he added.
CTB is currently a stockholder of the Credit Information Corp. (CiC),
the national credit information bureau formed by the government through
the Credit Information System Act (CISA) in 2008.
Recently, CiC tapped the International Finance Corp. of the World Bank
Group to help in the development of an appropriate business model for
establishing a credit information system, including the selection of the
best technical partner to design and set up the information system.
No money will be involved between the two entities, but IFC will pay for
credit information bureau experts and information technology (IT)
consultants.
CiC officials and stakeholders admitted that collection and collation of
positive and negative credit data would not be easy, given that the
bureau must be fully operational by 2015.
The bureau must create a database that will provide independent,
up-to-date, reliable and accurate credit information to private sector
credit bureaus, which will then sell the information to banks and other
lenders. Such information will help lower payment defaults, reduce the
risk of lending, and increase credit access for all borrowers.
CiC is controlled by the National Government, with a 60-percent stake,
and chaired by the Securities and Exchange Commission.
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