FILIPINO financial success stories are worth telling. From a bustling marketplace in Cebu, where a local entrepreneur transformed her food stall into a thriving catering business with the help of a microfinancing program, to farmers in Nueva Ecija boosting their livelihood with modern irrigation systems, stories of empowerment abound.
These are made possible by the Philippine Finance Association and its members — an alliance of finance, leasing, lending and fintech firms, banks and insurance companies committed to driving innovation and making financial services accessible to everyone.Access to fair and ethical financial services has remained a challenge for many Filipino s, particularly those in rural areas. The PFA seeks to change that narrative.
To strengthen the industry, the PFA has launched initiatives, such as the Security Access to Financed Equipment Tally Network, a central registry designed to enhance asset security and reduce risks for lenders. Through its partnership with BAP Data Exchange Inc., PFA member companies also access the Negative File Information System, a database that consolidates information on delinquent accounts. This improves risk assessment, reduces defaults and promotes financial discipline among borrowers.
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