New! The BAP Loandex - CreditBPO Partnership: Elevating Banking Through Innovation
The Bankers Association of the Philippines (BAP) and CreditBPO have embarked on a transformative journey, heralding a new era in banking with the introduction of the Enhanced Online Loandex Dashboard (EOLDX) for use by BAP’s member-banks. A Memorandum of Understanding solidified this partnership on January 24, 2024 and represents a fusion of BAP's commitment to advancing the banking industry and CreditBPO's innovative prowess in financial technology.
The Bankers Association of the Philippines (BAP) is the lead organization of universal and commercial banks in the Philippines consisting of forty-four member banks (44); twenty (20) of which are local banks and twenty-four (24) are foreign bank branches.
CreditBPO is a financial technology company that has developed AI-driven financial condition and benchmarking reports that streamline corporate, commercial and SME credit assessments. Important citations include winning the “Green and Inclusive Finance Solution” (ECCP, 2021), Microsoft “Highway to 100 Unicorns” Partner (2022) and a certified Visa Fintech Ready Partner (2020). It is also accredited as a Credit Rating Agency by the Philippine Securities and Exchange Commission (SEC). Through various proofs of concept, CreditBPO’s ratings have aligned with the biggest banks’ internal rating.
EOLDX, a state-of-the-art tool, developed by CreditBPO and is designed to help streamline banks’ credit initiation workflows, providing a comprehensive, AI-powered financial condition rating, benchmarking, and in-depth data and financial analysis. And by converting extensive, text-heavy reports into an accessible one-page dashboard, EOLDX offers an unparalleled clarity into a company's financial health, credit facilities, credit experience and risk profile.
The collaboration between BAP and CreditBPO is not just a step forward; it's a leap into the future of banking, where efficiency, accuracy, and insight lead the way. This partnership underlines a shared vision to empower banks with the tools they need to navigate the complexities of the financial landscape with confidence and foresight.
Through EOLDX, member banks of BAP are equipped with advanced analytics, real-time data visualization, and predictive insights, ensuring that they are not just keeping pace with the changes in the financial sector but are ahead of the curve. This innovative tool is a testament to the power of collaboration in driving the banking industry towards a more informed, agile, and strategic future.
In embracing CreditBPO’s copyrighted EOLDX, BAP member banks are not only enhancing their credit evaluation processes but are also setting a new standard in data visibility, risk management and financial analysis. The BAP Loandex and CreditBPO partnership is more than an agreement; it's a beacon of progress, illuminating the path for the banking sector to achieve excellence and innovation.