UNO Digital Bank teams up with Trusting Social to offer more lending services to customers in the Philippines. The two companies aims to empower traditionally underserved Filipinos to achieve their goals and bring them into the formal and secure financial ecosystem.

“Trusting Social and UNO recognize that solving the problem of financial inclusion in the Philippines will require bringing the best of both institutions to the fore — deep analytical expertise, best-in-class risk management, and deep domain expertise in building sustainable and inclusive products,” said Johnny Escaler, CEO, Trusting Social Philippines.

Trusting Social is an AI fintech company aspiring to democratise financial services through AI-based consumer insights and embedded finance. It drives financial inclusion by providing credit insights covering over a billion consumers to over 170 financial institutions across Vietnam, Indonesia, India, and the Philippines.

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The strategic partnership will leverage Trusting Social’s expertise in (artificial intelligence) AI-led customer onboarding solutions, including credit scoring with UNO’s new digital banking platform, designed to provide a one-stop financial solution for all Filipinos. Trusting Social’s big data scoring technology can use telco data, which is crucial for the Philippine market that has around 157 million prepaid mobile subscribers to provide accurate credit risk profile assessment, including unbanked customers. This will enable UNO Digital Bank to achieve its aim of building a more financially-inclusive banking landscape in the Philippines, where access to formal credit remains limited.

“Our partnership with Trusting Social will allow us to offer our services to unbanked Filipinos who otherwise won’t have access to formal lending services,” said Manish Bhai, CEO, UNO Digital Bank. “With Trusting Social’s data science tools and technology, we will be able to access highly reliable risk profile information, making it easy for any credit-worthy Filipino consumer to formally borrow money faster and easier.”