BSP, TransUnion set to develop credit education module for BELA

TRANSUNION has partnered with the Bangko Sentral ng Pilipinas (BSP) to develop and implement a credit education module for the BSP E-Learning Academy (BELA).

The credit reference agency signed a memorandum of agreement with the central bank on Nov. 18 for the financial literacy initiative. The interactive e-learning module titled “Understanding and Managing Your Credit Score” will be available starting next year.

“TransUnion believes that access to credit begins with access to credit knowledge. This partnership with the BSP is a monumental step forward in our shared mission to champion financial literacy and financial inclusion across the nation,” TransUnion Philippines President and Chief Executive Officer Peter Faulhaber said in a statement on Tuesday.

“By introducing this interactive e-learning module on the BELA platform, we are empowering Filipinos with insights needed to build and maintain a healthy credit profile — unlocking better financial opportunities and establishing a strong foundation for a more financially resilient population, in line with the Philippines’ national goal of achieving upper middle-income status,” he said.

The BSP launched BELA in August last year. The online financial literacy academy offers  modules that cover financial planning, budgeting, saving and debt management. — A.M.C. Sy