BIZ BUZZ: Track your credit score

You might have heard about the Filipino startup called Lista, one of the fastest growing financial management apps in the country.

Apart from helping people track their finances, another key feature of Lista—an idea inspired by the sari-sari store experience—is to give users insights into their creditworthiness.

A healthy credit score, after all, is a powerful financial tool that influences everything from the interest rates that lenders offer and the credit lines they extend, to the decision to approve or reject a loan application.

For that reason, Lista announced that it has partnered with global insights firm TransUnion to harness the latter’s consumer borrowing database, which was compiled using its own scoring models to assess risk profiles and present a credit score and credit report.

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That means all adult consumers in the Philippines can now request for their TransUnion credit score and report through the Lista mobile app, which is available on both the Apple App Store and Google Play Store.

With greater access to credit seen speeding up the Philippines’ transition to an upper middle-income economy, such a tie-up couldn’t have come at a better time.