MAKATI CITY, 12 August 2020 – Credit Information Corporation (CIC), the country’s credit registry and repository of credit information, hereby advises the public on the mutual termination of the subscription agreement between CIC and one of its accredited credit bureaus, Compuscan Philippines Inc.

The mutual termination was driven by the need for significant investment in the Compuscan business amid the pandemic.

In 2016, the CIC granted Compuscan with five-year accreditation, or until 2021, to have access to CIC’s database with rigid security requirements.  

CIC’s accredited credit bureaus, also known as Special Accessing Entities (SAEs), are duly accredited private corporations engaged primarily in the business of providing credit reports, ratings, and other similar credit information products and services.

Together with its three other accredited credit bureaus—CIBI Information Inc., TransUnion Information Solutions Inc., and CRIF Philippines—the CIC remains committed to the fulfillment of its goal to democratize credit information for the benefit of both the lender and the borrower.