The Fraud Intelligence Data Sharing (FIDS) Network, developed in collaboration with FinTech Alliance PH, enables institutions to exchange fraud signals through a secure, centralized database.
Through the system, banks, e-wallet providers, fintech companies, and other organizations can contribute verified fraud data and check applications against shared records. The initiative aims to prevent fraudulent activity that often moves across multiple platforms undetected.
Rising fraud risks
Fraud schemes increasingly operate across different financial services, making them harder to detect when institutions work independently.
Information flagged by one organization may not be visible to others, allowing suspicious applicants to move between banks, digital lenders, and e-wallet providers.
CIBI said the FIDS Network addresses this gap by allowing participating institutions to share confirmed fraud data and identify suspicious patterns earlier in the application process.
“We are very proud to bring together CIBI’s data, expertise, and governance infrastructure with the FinTech Alliance’s industry network,” said Pia Arellano, president and chief executive officer of CIBI Information Inc.
“Ultimately, this is about protecting Filipinos who trust the digital economy with their money, their identity, and their future,” she added.
Expanding industry collaboration
Under the system, participating institutions can contribute fraud-related data such as watchlist and blacklist entries, as well as selected information from incoming applications and inquiries.
When a member institution receives a new application, it can check the data against the shared database. The system then alerts the institution if the applicant has previously been flagged by another participating organization.
CIBI said all participating members share information in compliance with data privacy regulations to ensure security and proper governance.
“Fintech must not only innovate. It must also strengthen resilience and reinforce trust,” said Lito Villanueva, founding chairman of FinTech Alliance PH.
“The FIDS Network shows how institutions can share intelligence and work together to address emerging fraud threats,” he said.
Among the organizations currently participating in the network are BDO, RCBC, HSBC, Maya, Salmon, GoTyme Bank, Uno Digital Bank, ABU-EMP, and SB Finance.
Strengthening digital trust
Officials said the initiative supports broader efforts to curb fraud and strengthen confidence in the country’s growing digital financial ecosystem.
“Cybersecurity is no longer optional. It is a core component of national resilience,” said Renato Paraiso, executive director of the Cybercrime Investigation and Coordinating Center (CICC).
“Our goal is not only to protect systems but also to ensure that the public continues to trust critical digital services such as banking and other online platforms,” he said.
By enabling institutions to detect suspicious activity earlier and share fraud intelligence across platforms, the FIDS Network aims to strengthen defenses against coordinated fraud and help safeguard the country’s expanding digital economy. — Ed: Corrie S. Narisma
