SAVii is now an Accessing Entity at CIC
August 22, 2023
The Credit Information Corporation (CIC), the country’s public credit registry and repository of credit information, recently onboarded SAVii as an accessing entity (AE). This further strengthens SAVii’s partnership with CIC, the government corporation designed to empower consumers with their personal credit data. As an AE, SAVii now has ready access to borrowers’ credit reports, which will allow them to further protect debt to income ratios and expedite the process of granting affordable credit to their employee customers.
“We want to be a data based society, and be the conduit for consumers to use their own data to their advantage.” Says Atty. Ben Joshua A. Baltazar, President and CEO of the CiC. “Accessing Entities are ideally placed to empower consumers in this way through our direct to consumer programs,” he adds.
“SAVii will continue to work closely with the CIC to more comprehensively understand our customers’ credit situations and further customize our offers to their unique needs.” Says Liam Grealish, CEO and Founder of the Philippines’ category leader in salary linked finance. “This will optimize our services to make salary linked financing even more personalized and faster through our platform.”
The CIC database now contains 35 million unique data subjects, and will add GSIS and SSS data to the registry over the next few months. SAVii is a revolutionary platform that provides 360-degree salary-linked wellbeing services to HR leaders. During the pandemic, SAVii doubled its customer base and became the category leader in financial wellness, helping hundreds of thousands of employees in the Philippines by providing safe, convenient, and affordable loans, financial empowerment, and mental health programs with no risk or liability to employers.
About Credit Information Corporation (CIC)
The Credit Information Corporation was formed by R.A. No. 9510, also known as the Credit Information System Act of 2008. Its major mission is to centralize fundamental credit data and provide borrowers with access to reliable, standardized information on their credit history and financial status. Financial institutions interested in being an AE can send an email to [email protected] and monitor the CIC official Facebook page for issues and updates.
SAVii Asia, a firm founded in 2017, noticed a need to provide employees with no prior access to formal credit (the typical prey of harmful alternative lenders) with a secure and inexpensive formal lending option. In addition to financial services, the SAVii platform offers financial education and mental health awareness programs. SAVii’s financial services aim to improve employee satisfaction and reduce workplace stress, producing a resilient workforce that can maintain attention and engagement, which benefits the company. Our 100+ corporate employer partners get data insight that can help manage attrition and unlock engaged, productive employees. We support over 420,000 employees with safe, convenient, and affordable loans, advances, and mental health support. Connect with us on [email protected] or find out more at https://savii.io/ph.