by CIBI Information, Inc. | 22 March 2016

"An American author once stated:

"Knowledge is like money: to be of value it must circulate, and in circulating it can increase in quantity and, hopefully, in value."

This is the introduction given by CIBI Information, Inc. President and CEO, Marlo R. Cruz as he presented the essence of credit information during the 2nd General Membership Committee of Allied Suppliers Credit Association of the Philippines, Inc. (ASCAP) last February 17, 2016 at Tiara Oriental Hotel in Makati City.

According to Marlo R. Cruz, “In this digital age, putting debtors’ information on index cards seems like Alibata on banana leaves. Now, everything is fast, easy to acquire and driven by algorithms and analytics.”

Our country has came to an era, when we are presented with every possible bits of information that can easily be captured through our fingertips, yet we are clueless on how to structure it and make it a reliable and beneficial source for our own operational progress.

This situation has paved its way to the creation of national policies that further enhances the exchange of credit information and more so, to protect the fundamental rights to privacy by everyone. “As a credit bureau and data analytics company, we are ecstatic about the progress of the country’s new mindset in credit information exchange.” Mr. Cruz emphasizes.

He provided an overview about the context of credit information exchange under the Republic Act 9510 known as the Credit Information System Act (CISA Law). Mr. Cruz briefly discussed about the policies behind the CISA Law, and the functions and responsibilities of Credit Information Corporation (CIC).

Mr. Cruz also elaborated the benefits of the credit information exchange. “The information are beneficial and a prerequisite in standardizing policies, protecting the core values of every citizen as well as aiding the progress of every individual and of the country. But every benefits and actions can have counter reactions. Several of these collected information may affect the financial records of a company or an individual, yet we are given an ample of time to act on it before it even occurs.” he advices.

He also highlighted that, “Credit Bureau system in the country is deemed to flourish and attain its desired reached in 3 years to 5 years time depending on how fast the country would adapt. That period is a moment to relinquish.”

In the end of the presentation, the attendees were given a chance to ask questions. Mr. Cruz also inducted the new set of officers for ASCAP.

The committee also introduced its new President Rolando Romansanta from i-Can Capital.


ASCAP is a premier and recognized credit association in the Philippines aims to promote cooperation and unselfish exchange of credit information among members and to work for the protection of members from irresponsible, unprincipled and scheming debtors while promoting the highest ethical standard among members.

Among its vast membership list are DOLE, L'Oreal, Bench, Nestle, Energizer, Canon, CDO, Alaska, Wyeth, TAO Corporation, Johnson & Johnson and Belman Laboratories.

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