The Market Monitor Minding the Nation's Business
The Bangko Sentral ng Pilipinas (BSP) has introduced a web-based credit scoring system that will make it easier for small and medium enterprises (SMEs) to access financing.
Developed with the Japan International Cooperation Agency, the Credit Risk Database Philippines (CRDPh) System generates credit scores and default probabilities using anonymized financial and non-financial data from participating financial institutions (FIs).
“It aims to help financial institutions assess the creditworthiness of SMEs,” the BSP said in a statement Friday.
The platform provides faster and more accessible loan assessments without the need for standalone software, giving lenders an additional tool in approving and pricing SME loans.
BSP said the CRDPh System also addresses the “missing middle” — businesses too large for microfinance but too small for traditional commercial banks.
“Beyond improving credit risk management, the system will supply policymakers with benchmark statistics and data to guide SME financing measures,” it added.