GLOBAL credit reporting agency and information solutions company TransUnion Philippines is ramping up efforts to improve credit literacy in the country as more Filipinos turn to formal lending products such as loans and credit cards.
The company said it launched its “Credit Engage” initiative to help financial institutions better understand credit reports, credit scores and data management practices amid rising demand for credit.
Citing its latest Consumer Pulse Study, TransUnion said 56 percent of consumers plan to apply for new credit or refinance existing loans this year, the highest level recorded since the start of 2025.
The initiative, introduced late last year, provides workshops for lenders aimed at improving the use and interpretation of credit information to support risk management and more tailored financial services. Participating institutions included Metropolitan Bank & Trust Company, Rizal Commercial Banking Corp. and Maya Bank.
In a statement, the company said the sessions focused on how credit data is structured and maintained, as well as the importance of collaboration among lenders, credit reference agencies and consumers in ensuring data accuracy.
The company is also partnering with Bangko Sentral ng Pilipinas (BSP) to develop a credit education module for the BSP E-Learning Academy (Bela), which is expected to be available as early as this year. The module will explain how credit scores work, the factors affecting them and the importance of monitoring credit reports.
TransUnion said the partnership makes it the first credit reference agency in the Philippines to collaborate with the central bank on the Bela platform.
“We are seeing a steadily expanding credit market in the Philippines, with more consumers now actively engaging in the formal credit ecosystem,” said Peter Faulhaber. “As participation grows, strong credit education becomes even more critical.”
TransUnion said its initiatives aim to strengthen trust, transparency and responsible credit use as the Philippine financial services sector continues to evolve. / KOC