CIBI Information Inc., a credit bureau in the Philippines, has rolled out the Fraud Intelligence Data Sharing (FIDS) Network, a centralized system that enables banks, fintech firms, and e-wallet providers share verified fraud data to stop suspicious applications before accounts are approved.
The FIDS Network connects multiple institutions into one secure database where members can both submit and check fraud signals. These include watchlist and blacklist entries, as well as selected data from loan or account applications. When a new application comes in, participating institutions can cross-check it against the shared database and get alerts if the applicant has been flagged elsewhere.
“Ultimately, this is about protecting Filipinos who trust the digital economy with their money, their identity, and their future,” said Pia Arellano, president and CEO of CIBI Information Inc.
Fraud in the Philippines has become more complex, often moving across platforms such as digital banks, lending apps, and e-wallets. When companies operate in silos, fraudsters can exploit gaps by applying across multiple providers. CIBI Information Inc. said the network addresses this by enabling early detection and cross-industry visibility.
The system is built with data privacy compliance in mind, with participating organizations required to follow strict security and regulatory standards when sharing information.
“Fintech must not only innovate. It must also strengthen resilience and reinforce trust,” said Lito Villanueva, founding chair of FinTech Alliance PH. “The FIDS Network shows how institutions can share intelligence and work together to address emerging fraud threats.”
Early participants in the network include major banks and digital finance players such as BDO, RCBC, HSBC, Maya, Salmon, GoTyme Bank, Uno Digital Bank, ABU-EMP, and SB Finance.
The initiative also supports national efforts to reduce financial fraud as more Filipinos adopt digital banking and online financial services.