Fintech News Philippines
TOP PICKS OF THE WEEK
20 Top Emerging Digital Finance Players to Watch in the Philippines
Though in the Philippines fintech is still in the infancy stage, adoption of digital financial services is on the rise.
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State-Owned OFBank Clinches Philippines’ First Digital Banking License
Overseas Filipino Bank (OFBank), a wholly owned subsidiary of the Land Bank of the Philippines (LANDBANK), has digital only bank
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BSP Highlights Role of Digital Banks as Key Financial Inclusion Enabler
The Bangko Sentral ng Pilipinas (BSP) considers the digital banking framework as a key building block in promoting financial inclusion.
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CIMB Philippines to Power GCash’s Digital Micro-Lending Facility, GCredit
Mobile money wallet GCash is transitioning from a micro-lending innovation to being a full digital lending facility through the GCredit
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UnionBank to Enable Digital Payments for the Supreme Court
The Supreme Court of the Philippines (SC) signed a Memorandum of Agreement with Union Bank of the Philippines (UnionBank) for
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Neobank Tonik Officially Kicks off in the Philippines
Southeast Asian digital-only bank Tonik has launched as the first neobank in the Philippines. Tonik is supervised by the Bangko
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Philippines and UK Inked MoU for Fintech and Green Finance Cooperation
Several Philippines agencies have signed a Memorandum of Understanding (MOU) with the British Embassy of Manila for the country’s participation
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Fintech Alliance.ph Urges the Public to Be on High Alert Due to Rising Cybercrimes
Members of Fintech Alliance.ph issued a joint statement strongly urging the public, industry stakeholders, and the government to join hands
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JazzyPay and UnionBank Rolls Out Cashless Payment Solutions for SMEs
Online payment gateway JazzyPay has teamed up with Union Bank of the Philippines to provide cashless payment solutions for SMEs
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FICO Survey Reveals Filipinos’ Rising Preference for Digital Banking Channels
A recent survey by global analytics software firm FICO has revealed that 56 percent of Filipino consumers prefer to use
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Experian Teams up With FinScore for Alternative Data Scoring in the Philippines
Experian, a consumer financial data service provider, has partnered with FinScore, an alternative credit scoring provider, to help financial institutions
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How to Build a Digital Bank That’ll Actually Serve the Underserved
With many regulators in the Southeast Asian region making their moves towards digital banks, it’s not hard to see why
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A Glance at the Philippines’ Open Banking Strategy
Open banking is at the core of enabling innovation within the financial sector, while the private sector often rolls out
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Philippines Securities Commission Unveils Online Payment Portal
The Philippines’ Securities and Exchange Commission (SEC) has launched its online payment system for companies to pay their registration fees. The
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BSP Ramps up Efforts for Digital Payments Ecosystem; Appoints New Deputy Governor
The Bangko Sentral ng Pilipinas (BSP) has established the Payments and Currency Management Sector (PCMS) which is tasked to manage
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Xendit Partners BillEase to Offer BNPL for Filipino Merchants
Indonesian payment gateway Xendit and FDFC, the fintech company behind the Buy Now, Pay Later (BNPL) app BillEase, announced the
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Education Financing Startup ErudiFi Raises US$5 Million in Series A Funding Round
ErudiFi, a tech-enabled company providing access to affordable education financing in Southeast Asia, announced the close of a US$5 million
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Tyme Secures US$110 Million Funding, Eyes Virtual Banking License in the Philippines
Tyme, a multi-country digital banking group headquartered in Singapore, announced its US$110 million Series B capital raise, bringing foreign investment
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Cashalo Claims Users’ Accounts Not Compromised Despite Data Breach
Online lending platform Cashalo announced that it had discovered a potential data breach but reassured its users that no customer
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RCBC’s DiskarTech App Disburses Social Security Loan Proceeds and Benefits
Members of the Social Security System (SSS) nationwide can now get their SSS benefits and loans proceeds through Rizal Commercial
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BDO Unibank Enables QR Code Withdrawals From Select ATMs
BDO Unibank announced that its customers can now make cardless, QR code-based withdrawals from select ATMs. Customers will have to
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Philippines Digibank Tonik Taps FinScore’s Alternative Credit Scoring Solution
Philippines digital bank Tonik has selected FinScore, a local alternative credit scoring company to process loan applications for its Filipino
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AirAsia Philippines Offers Digital Payment Options by GCash and PayMaya
AirAsia is providing its customers with contactless payment options by partnering with GCash and PayMaya. The digital payment option has
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Philippines Central Bank Updates Guidelines Crypto Exchanges
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) has approved the guidelines on virtual asset service providers (VASP)
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Finastra, HCL to Provide Cloud-Based Digital Treasury Management for Filipino Banks
Finastra, a financial services software and cloud solutions provider, announced a partnership with HCL Technologies, an Indian multinational technology company,
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Fintech Alliance.PH Urges Enactment of Corporate Tax Incentives Bill
The Fintech Alliance.PH together with 43 other private business groups in the Philippines have expressed support for the Corporate Recovery
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CIMB Philippines Doubles Customer Base to Over 3 Million
CIMB Bank Philippines had doubled its deposit customer base to exceed 3 million total banking customers with an 800% increase
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DiskarTech Ranked as the Most Downloaded Finance App in 2020
DiskarTech, Rizal Commercial Banking Corporation’s (RCBC) virtual bank, has emerged as the Philippines’ number one finance app released in 2020
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FinScore Inks Partnership With UnionBank for Data-Driven Credit Scoring
UnionBank has signed a partnership agreement with FinScore, an alternative credit scoring company that is powered by telco data and
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GCash Inches Closer to Unicorn Status With $175 Million Capital Raise
Globe Fintech Innovations, Inc. (Mynt), the fintech arm of Globe Telecom and operator of e-wallet GCash, raised over $175 million
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GCash E-Wallet Hits PHP 1 Trillion in Transactions in 2020
Philippine mobile money wallet GCash has hit PHP 1 trillion in transactions for the year 2020, recording a 254% year-over-year
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