Taguig, Philippines – On September 17, 2024, TrustDecision, a global leader in AI-powered fraud prevention, and CIBI, a prominent credit information service provider, co-hosted an exclusive event aimed at tackling the evolving challenges of financial fraud in the Philippines. Held at the Arthaland Century Pacific Tower, the event brought together key players from the fintech and banking sectors to learn about the common identity fraud and loan fraud, the critical role of credit bureau to reduce risk, and our collaborative efforts to drive stronger fraud and credit risk prevention across the industry.
Sam Lu, Head of International Business Solution at TrustDecision, gave attendees an exclusive look into some of the most complex fraud cases we've encountered—from identity fraud to application fraud. TrustDecision’s strategy goes beyond standard eKYC, employing advanced tools like Device Fingerprinting to detect fraud patterns and dismantle networks, alongside LLMs to enhance OCR accuracy. Our end-to-end solution integrates data from identity sources, payment channels, and devices, empowering our real-time decision engine to offer merchants clear, actionable guidance—whether to accept, review, or reject applications.
Josh Mortega and Aymeric also provided valuable insights in fraud prevention from the stance of CIBI, discussing how credit bureaus can support financial institutions by offering crucial data and fostering sustainable growth. By centralizing data and promoting transparency, credit bureaus play an essential role in identifying fraud patterns, reducing lending risks, and enhancing overall operational efficiency. This collaboration not only helps mitigate fraud but also drives financial inclusion, improves risk management, and boosts confidence within the banking ecosystem—ultimately creating a more secure and thriving financial environment.
Attendees were provided with actionable insights into how advanced technology can drive more secure and efficient operations, a key focus was the multi-ID system in the Philippines—a common challenge for many in the industry—underscoring the importance of building a strong National Fraud Bureau.
Collaborative solutions by TrustDecision and CIBI are essential for strengthening collective defenses against fraud by creating a robust intelligence network. At TrustDecision, with over 300 companies across 150 countries and access to 8 billion devices, our partnership highlights the power of collaboration in tackling fraud at scale.
As digital transactions continue to rise in the Philippines, the sophistication of fraudulent activities increases, making events like these crucial for staying ahead of emerging threats. TrustDecision and CIBI are committed to advancing fraud prevention strategies and fostering a safer financial ecosystem through innovation and collaboration.
For more information about TrustDecision’s fraud management solutions and CIBI’s role in credit information services, please visit TrustDecision’s website and CIBI’s website.
About TrustDecision
TrustDecision is a global leader in risk management solutions, specializing in fraud prevention, credit scoring, and digital security. The company is committed to enhancing the operational integrity and compliance of financial institutions around the world.
About CIBI Information Inc.
CIBI Information Inc., established as the first and only local credit bureau in the Philippines, provides crucial financial data and analytics services. Originally a government entity, CIBI was privatized to offer comprehensive credit and information management solutions, supporting both businesses and consumers.
