Rural Banks Increasingly Accessing the BAP-Credit Bureau

Over the last five years, the number of rural banks utilizing the Bankers Association of the Philippines (BAP) Credit Bureau’s Negative File Information System (NFIS) has grown almost five-fold with seventy-seven (77) rural banks now enrolled and fifty-one (51) rural banks actively using the system. There has also been an almost nine-fold increase in the number of credit inquiries by rural banks.

There are several reasons for the dramatic increase in the number of rural banks enrolled in the BAP-CB and the increase in the number of inquiries.  One factor is the reduced fee to both enroll and access the system. Rural banks may now enroll in the BAP-CB for free and only need to pay a PhP 5 fee per credit inquiry.  BAP-CB also provides free training for all subscribers. The only requirement is that all subscribers share and update their negative files with the NFIS.

Another factor is …