MANILA, Philippines – Rizal Commercial Banking Corp. (RCBC), led by Yuchengco, is seeking to develop a dashboard to help provide credit to the country’s unbanked population.

Bennett Santiago, head of the credit management group at RCBC, said the listed bank wanted to address the challenges of assessing loans to the unbanked to accelerate financial inclusion through data analytics.

“From a credit perspective, we’re trying to find ways to make credit accessible to unbanked people, based on how they spend government grants,” Santiago said during a webinar hosted by the Association. of Asian Bankers (ABA) and the Association of Credit Rating Agencies. in Asia (ACRAA),

The dashboard will help to assess the risk profile of the unbanked, faced with the lack of bank and credit history. The score will be improved by using external data such as personality, behavior and public data.

Additionally, there will be pressure for financial literacy and discipline to improve credit eligibility.

Santiago said the bank understood the importance of data analytics during the pandemic.

“We needed to have a differentiated customer opinion. We couldn’t have one size for all types of surveillance. We should be spending more time on high-risk and low-risk accounts, (and) that’s where the opportunity for digitization, automation, machine learning happens for credit risk management,” said Santiago said.

He said data analytics helped improve collection strategy during the pandemic and enabled the company to implement data-driven decisions to mitigate risk.

“Understanding delinquency drivers, at the customer level, has been made possible through the use of data science and analytics,” Santiago said.

Meanwhile, the Credit Information Corp. (CIC) has classified RCBC as an Access Entity allowing the bank to access borrowers’ credit information either directly from CIC or through one of its accredited offices, namely CIBI Information Inc., CRIF Philippines and Transunion. Information solutions.

The Universal Bank led by Yuchengco can now better assess its borrower’s credit history and speed up their loan approval process.