The Credit Management Association of the Philippines (CMAP) recently celebrated its 41st National Credit Congress, coinciding with its 91st founding anniversary. The event was held on April 26, 2023, at the Quezon City Sports Club. Esteemed guest speakers and industry experts attended the event, which revolved around the theme "Tools of the Trade for the Evolution of the Credit Landscape." The day was filled with insightful discussions and learning opportunities.
The day began with an engaging talk by Mr. Jonathan Ravelas, CTA, who discussed Philippine economic and financial trends. Ms. Doreen Cooper also captivated the audience with her presentation on holistic wellness for credit practitioners, emphasizing the importance of a healthy work-life balance.
Distinguished guests, including Comm. Bryant Fernandez of the Securities and Exchange Commission and President Ferdinand Marcos Jr., shared their messages, supporting the event and its vision.
The Smile team was present at the event, showcasing our innovative solution for credit management executives and professionals. As we highlighted, lenders in the Philippines lack reliable, recent, and comprehensive borrower data, particularly for the unbanked or marginalized population. Smile addresses this issue by leveraging employment data, as a viable alternative option for credit data, to streamline loan origination and reduce the risk in loan underwriting.
Unlike traditional credit data, such as credit scores or manually submitted documents, Smile offers greater coverage, real-time access, and verified data about borrowers' identity, employment, and income. These data come from employment documents, HR and payroll systems, gig economy platforms, and government systems—all with the permission of the borrower.
Events like the National Credit Congress provide a platform for shaping the future of the industry and driving economic growth in the Philippines. As CMAP spearheads advancements in credit management, Smile is poised to lead the way in revolutionizing the credit landscape in the Philippines with our solution for providing access to accurate and comprehensive alternative credit data.