Credit information company TransUnion Philippines and payments technology firm Mastercard have teamed up to help financial institutions gain a broader view of consumers’ financial behavior, with the aim of expanding responsible access to credit in the country.
The collaboration follows a pilot program between the two companies and combines TransUnion’s credit, identity, and alternative data with Mastercard’s aggregated transaction intelligence. The integrated data is expected to help lenders better assess consumers’ financial capacity and risk.
According to the companies, traditional credit assessments can be difficult for people with little or no credit history. By incorporating transaction-based behavioral signals, lenders may be able to more accurately identify “new-to-credit” or “thin-file” consumers and tailor products based on their financial activity.
The combined insights are also designed to help financial institutions distinguish between applicants with similar profiles, uncover opportunities within their existing portfolios, and streamline the credit application review process.
Peter Faulhaber, president and CEO of TransUnion Philippines, said the partnership builds on the company’s analytics capabilities.
“This collaboration builds on TransUnion’s existing strengths in alternative data and analytics,” said Faulhaber. “By enriching our existing insights with Mastercard’s behavioral data, we’re helping institutions make more confident decisions while ensuring more Filipinos, especially those with limited credit histories, can be offered fair and relevant access to the financial system.”
Jason Crasto, country manager for Mastercard in the Philippines, said the initiative is aimed at strengthening financial inclusion.
“Mastercard is committed to strengthening the foundations of a more inclusive financial ecosystem,” said Crasto. “Our collaboration with TransUnion brings together complementary data assets that help financial institutions see a fuller picture of everyday economic participation. This combined intelligence enables lenders to design responsibly, grow sustainably and extend credit opportunities to people who have historically been underserved.”
Aside from data integration, Mastercard’s consulting arm has also worked with TransUnion to enhance data propositions for lenders, including portfolio margin optimization and improved collections strategies.
