ADVANCE.CBP, KCB Launch Cross-Border Credit Link

ADVANCE.CBP, an accredited Special Accessing Entity (SAE) regulated by the Credit Information Corporation (CIC) in the Philippines, has signed a memorandum of understanding with Korea Credit Bureau (KCB), a leading South Korean private credit bureau licensed by the Financial Services Commission.

The agreement, signed at the ADVANCE.CBP office and witnessed by CIC President and CEO Ben Baltazar, marks a major milestone in strengthening cross-border financial access between Korea and the Philippines.

The partnership will establish an API-based credit information linkage system between the two countries.

Under the agreement, more than 70,000 overseas Filipino workers residing in Korea will be able to use Philippine credit data — sourced from CIC — to open bank accounts and access financial services in Korea.

Similarly, Koreans seeking financial services in the Philippines will be able to leverage their Korean credit histories, fostering a seamless financial environment where citizens of both countries can transact more securely.

“The CIC welcomes this groundbreaking initiative, which reflects our shared vision of financial empowerment through data,” said Baltazar.

“Facilitating trusted credit information exchange between Korea and the Philippines opens new opportunities for our overseas workers and supports economic resilience in both countries.”

“Through this strategic partnership with ADVANCE.CBP, we are taking an important step toward a future where individuals can prove their creditworthiness across borders,” said KCB CEO and Chairman Jong Sup Hwang.

“We are excited to support greater financial access for both Korean and Filipino citizens, while setting new standards for regional cooperation in credit innovation.”

“We are proud to collaborate with KCB to establish one of the first cross-border credit linkage systems between Korea and the Philippines,” said Michelle Anne Chan, country manager of ADVANCE.CBP and ADVANCE.AI Philippines.

“This partnership directly supports our mission to unlock greater financial inclusion for Filipinos abroad and Koreans in the Philippines, empowering them with trusted data to access the financial services they deserve.”