As more Filipinos turn to formal credit products amid rising borrowing demand, TransUnion is ramping up efforts to strengthen credit literacy among both lenders and consumers through a two-pronged education initiative aimed at promoting healthier credit market growth in the Philippines.
The company said it is expanding its lender-focused “Credit Engage” program while preparing to roll out a new consumer education module through the Bangko Sentral ng Pilipinas (BSP)’s E-Learning Academy, or BELA, later this year.
The move comes as demand for credit continues to climb.
According to TransUnion Philippines’ latest Consumer Pulse Study, 56% of Filipino consumers said they plan to apply for new credit or refinance existing obligations this year — the highest level recorded since early 2025.
That sharp increase underscores the growing importance of credit education as more consumers enter the formal financial system and as lenders face greater pressure to make sound, data-driven lending decisions.
Strengthening lender understanding
Credit Engage interactive workshop with RCBC
Launched late last year, Credit Engage was designed as an interactive workshop series to help financial institutions better understand credit reports, credit scores, and the underlying factors that influence them.
The initiative also focuses on improving awareness of how credit data is structured, maintained, corrected, and interpreted across the credit ecosystem.
Since its launch, TransUnion has conducted sessions with several major financial institutions, including Metropolitan Bank & Trust Company, Rizal Commercial Banking Corporation, and Maya Bank.
These workshops cover core topics such as the components of consumer credit reports, key drivers of credit scores, and data quality management.
By aligning lenders on how credit information is interpreted and maintained, the program aims to improve consistency in credit decision-making and support more tailored financial services.
TransUnion said stronger collaboration between lenders, credit reference agencies, and consumers is essential to maintaining accurate credit data and fostering trust in the system.
Credit Engage interactive workshop with Metrobank
Bringing credit literacy directly to consumers
Beyond institutional engagement, the company is also working to make credit education more accessible to the broader public.
Through its partnership with the BSP, TransUnion has developed a dedicated credit education module for BELA, which is expected to launch as early as this year.
The module will explain how credit scores are calculated, what factors affect them, and why regularly monitoring credit reports is essential for responsible financial management.
Credit Engage interactive workshop with Maya Bank
The partnership marks a milestone for the local credit industry, making TransUnion the first credit reference agency in the Philippines to collaborate with the BSP on the academy.
“We are seeing a steadily expanding credit market in the Philippines, with more consumers now actively engaging in the formal credit ecosystem,” said Peter Faulhaber.
“As participation grows, strong credit education becomes even more critical — enabling lenders to make informed, confident decisions and empowering consumers to manage and use credit responsibly.”
Building a more resilient credit ecosystem
Peter Faulhaber, President and CEO of TransUnion Philippines
The latest initiatives reflect broader efforts to improve financial inclusion and strengthen confidence in the country’s formal lending infrastructure.
As digital lending, credit cards, and personal financing products become more accessible, industry stakeholders have increasingly emphasized the need for stronger financial literacy to ensure consumers understand both the opportunities and responsibilities tied to credit use.
For TransUnion, the combination of lender education through Credit Engage and public-facing consumer learning through BELA signals a longer-term strategy centered on transparency, trust, and data accuracy.
The company said these pillars will be critical to sustaining credit market growth while supporting broader economic development in the Philippines.
