Our MiDAS refresher courses separately for reporters and inquirers have been ongoing. You may drop us an email at marketing.midas.inc@gmail.com or call us at 0917-133-1737 to schedule a free training until December 31, 2022.

MiDAS 2 is now launching which will take over MiDAS 1 effective on December 1, 2020.

The development of MiDAS database is being pursued to allow more effective exchange of data from the platform for submission and inquiry. MiDAS recognizes the need for greater security for a safer and stronger data exchange platform to protect our clients.

MiDAS 2 server is the upgraded and enhanced version of MiDAS 1. It seeks to continue being a user friendly database that includes additional features with speedy and efficient pace of processing. 

All members are hereby required to attend the webinar on November 27, 2020 for reporters and inquirers.

For all the members who wish to have a refresher training, kindly contact Ms. Jerikka (Marketing) to request for 2021 schedule.

The Microfinance Council of the Philippines, Inc. (MCPI) held its 2019 Annual Conference with the theme ‘Transforming Microfinance through Digitalization’ on July 25-26, 2017 at the Prince Hotel, Malate, Manila. Along with this was the renewal of the Memorandum of Support between the CIC and MiDAS, Inc. which was held on the last day of the conference, 26th of July 2019.

CIC recognized MiDAS who seeks to protect its members through the provision of a simple and yet reliable data exchange platform as well as providing technical assistance to the microfinance industry (MFI). The purpose of this is for the rehabilitation of borrowers at risk while maintaining good clients in achieving self-sufficiency, which is through the collaborative initiatives of MiDAS as a social enterprise.

Furthermore, by working cooperatively, CIC and MiDAS look forward to enabling around six million (6,000,000) borrowers of the MiDAS members to achieve greater access to credit.

Through this renewal, MiDAS was authorized to continually reinforce the mutual commitment to contribute to the establishment and success of the centralized public credit registry. MiDAS will continue to adopt the CIC’s reporting format for the former microfinance members who are Submitting Entities (SE) of the CIC.

MiDAS commits to participate in the CIC’s Training the Trainer’s Program to be capacitated in supporting the members of MiDAS who are SEs with respect to CIC transactions, such as the submission of related basic credit data. CIC on the other hand, will continue to seek ways on how to improve other data points to be more accessible to SEs to achieve a comprehensive and reliable public credit registry.

It has been agreed upon discussion that all members of MiDAS will be following the Circular #14 also known as the Additional Field: Mother’s Maiden Name on the data submitted by the microfinance institutions to CIC.

The CIC President and CEO, Mr. Jaime Garchitorena discussed in the first quarter board meeting of MiDAS on March 23, 2019 the changes on credit report to be able to enhance the accuracy of details and to better identify the unique data. Since the Tax Identification Number (TIN) is not fully complied by the microfinance institutions, CIC came up with an alternative personal information to be included in the credit report template which can effectively help in filtering the unique data of MFI clients.

As approved by the MiDAS Board of Directors to include the ‘Mother’s Maiden Name’, all MiDAS members will be provided and required to use the revised BARIS and MPoDS reporting template which can be downloaded in the MiDAS portal. This will be effective for May 31, 2019 cut-off and/or June 15, 2019 reporting deadline.

For guidance:

1. Log in the website: https://midas.midas.com.ph/
2. From the Tab Bar, hover on HELP and click FILES from the drop down.
3. Download the files: (1) NEW POD Upload Template, and (2) NEW BAR Upload Template.
4. Fill out the additional fields for Mother’s Maiden Name and continue with the same process on uploading the credit report.
5. Notes:
   Data Cut Off : May 31, 2019
   Report Submission/Deadline : June 15, 2019

Should there be any help needed, please contact the following for assistance:
Data and Template Support
Email: operations.midas.inc@gmail.com
Landline: (033) 329-5037
Mobile Nos.: 0916-330-0586 / 0999-981-7462

Technical and Uploading Support
Email : sysad.midas.inc2018@gmail.com
Landline: (033) 329-5037

The 34th MiDAS Board meeting happened last March 23, 2019 in Century Park Hotel, Malate Manila. Having this to be the first of the 2019 quarterly meetings, the main topics discussed were membership increase, operational reports, Technical Working Group concerns, and the monthly financial statements.

A couple of institutions have also proposed to MiDAS for partnership. Each institution’s pros and cons were thoroughly discussed by the board and with the help of the President’s report, all came up with a more effective and beneficial long term outcome.

The CIC President and CEO, Mr. Jaime Garchitorena was also able to present the CIC data roadmap for MiDAS concerning the topic of less reliance on TIN. The meeting was then wrapped up with the presentation by RestartME.

34th Board Meeting was attended by the following:
Dr. Jaime Aristotle Alip – Chairman
Ms. Maria Regina L. Pacifico representing Mr. Kamrul Tarafder – Vice-Chairman
Mr. Angel De Leon, Jr. – President
Dr. Dolores M. Torres – Treasurer
Mr. Angelo B. Solarte – Director
Mr. Gilbert Maramba representing Ms. Suzzette Gaston – Director
Ms. Flordeliza Sarmiento – Director
Mr. Jimmy Ramos – Director
Mr. Allan Robert Sicat – Corporate Secretary

Continue reading “34th MiDAS Board Meeting”

The Microfinance Council of the Philippines, Inc. (MCPI) held its 2017 Annual Conference with the theme Embracing New Milestones and Challenges in Microfinance on July 27-28, 2017 at the Century Park Hotel, Manila

In the photo (Left to right) Mr. Angelo Solarte MiDAS Board of Director,  Atty. Ivy Grace Villasoto Chief, Policy Development Division of National Privacy Commission, Mr. Jaime Garchitorena  President and CEO of Credt Information Corporation.

Mr. Angelo Solarte as one of the speaker for the Plenary Session on Utilizing Credit Information Systems and Understanding Data Privacy.

Signing of the Memorandum of Support between Microfinance Information Data Sharing Inc.(MiDAS) and Credit Information Corporation(CIC) last August 11, 2016 at the Peninsula Manila.

CIC recognized the formation of MiDAS as the credit bureau that allows Microfinance Institutions (MFIs) to submit reports, send inquiries and retrieve information on borrower.

(Left to Right) Fr. Jose Victor Lobrigo MCPI Chairman, Griselda Santos IFC Senior Financial Sector Specialist, Dr. Mario Lamberte Component Team Leader, Dr. Jaime Aristotle Alip MiDAS Chairman, Mr. Jaime Garchitorena  CIC President and CEO , Mr. Angel L. De Leon Jr. MiDAS President. Mr. Kamrul Tarafder MiDAS  Vice-President.

(Left to Right) Mr. Eduardo Jimenez, Mr. Allan Robert Sicat MiDAS Corp Secretary, Ms. Flordeliza Sarmiento MiDAS Board of Director, Dr. Dolores Torres MiDAS Treasurer, Mr. Jimmy Ramos MiDAS Board of Director.