Credit bureau agency CIBI expands PH services with SG-based ADVANCE.AI

by Elton Gagni / April 28, 2021

As the country continues to embrace digital transformation and embrace innovation from within, the country’s credit bureau agency CIBI Information Inc (CIBI) recently signed a strategic partnership with Singapore-based AI and big data company ADVANCE.AI to use AI and computer vision technology in expanding business intelligence support and services for Philippine businesses.

CIBI President and CEO Marlo R. Cruz expressed that the partnership is in line with them as a forward-looking and digital-first organization that is always on the lookout on being one step ahead. “This partnership with ADVANCE.AI facilitates our mission to give Filipino businesses easier access to a range of business intelligence services, including credit and data reporting through a more efficient internal system.”

ADVANCE.AI is a leading AI and big data company in Asia and has seen growth amid the pandemic with the accelerated digitalization of the banking and financial services sectors in Southeast Asia, India and mainland China. It currently partners 1,000 enterprise clients including large multinational banks and financial services organisations, as well as regional fintechs, payments, retail and e-commerce platforms that are looking to digitally transform operations, manage risk and optimise resource efficiency.

“Our market-leading AI and computer vision technology will allow CIBI to expand its range of critical business data and intelligence reporting solutions, with the ultimate aim of better supporting underbanked and underserved businesses in the Philippines,” said Dong Shou, CEO of ADVANCE.AI. “This is more important than ever in the current COVID landscape, as we help accelerate the digitalisation of the economy, and in doing so, help millions of Filipinos and businesses gain access to new financial products and services.”

Cruz shared that CIBI’s partnership with ADVANCE.AI marks the beginning of more opportunities for them as it enriches their capabilities and innovations.

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