Philippine Companies Use Social Media and Email to Determine Credit


When 70% of your population doesn’t have a bank account and only 4% has a credit card, determining credit worthiness can be challenging, but 122 million mobile phones for 101 million people provides an alternative data source.

About 70% of Filipinos don’t have a bank account and just 4% of the population has a credit card, making alternative credit scores a necessity for people who want to qualify for loans. What’s more, the lack of traditional financial statements and national identification makes it difficult for banks to loan money to the emerging middle class where the minimum wage is about $10 a day.

Read the entire Wall Street Journal article here.

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