Fintech News Philippines

Philippines SEC Cautions Public to Not Invest in Binance

The Philippines Securities and Exchange Commission (SEC) has cautioned the public to not invest in global cryptocurrency exchange Binance in

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Tonik Enables Real-Time Fund Transfers up to PHP 50,000 With InstaPay

Philippines digital bank Tonik announced that it has integrated InstaPay services on its mobile app to enable real-time fund transfers.

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Rise of Super-Apps Puts Pressure on Incumbents

In Asia, bigtechs and new digital banking challengers are rapidly gaining ground, forcing incumbent banks to rethink their business strategy

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Citi Wraps up Sale of Philippines Consumer Business to UnionBank for US$700 Million

Citi announced that it has completed the sale of its Philippines Consumer Business to UnionBank of the Philippines. The deal

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ADB Helps Asian Cities Tap Private Sector Financing to Meet Their Climate Goals

The Asian Development Bank (ADB) has launched a new initiative to provide direct advisory support to help cities across Asia

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GoTyme Gets Green Light From BSP to Begin Operations as Digital Bank in the Philippines

GoTyme announced that it had secured its Certificate of Authority (COA) to operate as a digital bank by the Bangko

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Philippines’ UNO Digital Bank Raises US$11 Million Led by Malaysia’s Creador

Singapore-headquartered financial technology company UNOAsia, the primary incorporator of UNO Digital Bank in the Philippines, has secured US$ 11 million

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Philippines Gov’t to Accelerate Roll Out of PhilSys ID, Says Finance Secretary Diokno

Finance Secretary Benjamin Diokno said that the government will accelerate the rollout of the Philippine Identification System (PhilSys ID) to

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BSP Accelerates Implementation of the Person-To-Merchant QR Code System

The QR Ph Person-to-Merchant (P2M) payment facility, now fully implemented, now may be used in 473,000 merchant locations nationwide as

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Are Filipino Banks Able to Keep Up With BSP’s New IT Risk Rules?

If you’re a risk management leader in the Philippines, Circular No. 1140 might keep you up at night. After all,

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PayMongo Ties up With Atome to Offer BNPL Acceptance to Filipino Merchants

Philippines’ online payment processing startup PayMongo has partnered with Atome Philippines to expand Buy Now, Pay Later (BNPL) acceptance among

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Tonik Appoints Tomasz Borowski as Its Group COO

Philippines digital bank Tonik announced that Tomasz Borowski will be joining its leadership team as the Group Chief Operations Officer

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4 Ways Alternative Data Is Improving Fintech Companies in APAC

Various categories of fintech firms – Buy Now, Pay Later (BNPL), digital lending, payments and collections – are increasingly leveraging

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Asset Manager ATRAM Taps additiv to Digitise Its Wealth Management Platform

ATRAM Trust Corporation (ATRAM), an independent asset and wealth manager in the Philippines, announced that it has signed a strategic

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UnionDigital Bank Secures BSP’s Approval to Begin Operations

UnionDigital Bank announced that it has secured the necessary approval from the Bangko Sentral ng Pilipinas (BSP) to operate as

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Payment Managers Are Redefining Their Strategic Priorities for 2022

It is evident that digital acceleration is creating a new payments paradigm as corporate non-cash payments are forecasted to reach

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GrabPay Pushes Back InstaPay Transfer Fee to August

Southeast Asia ride hailing superapp Grab announced via an app advisory that it will delay charging additional fees for InstaPay

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BaaS Needs to Double Down on Cross-Industry Partnerships to Fuel Growth

Banking as a Service (BaaS) is seen as one of the biggest opportunities in financial services and is experiencing rapid

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BSP Names PESONet, InstaPay as Prominently Important Payment Systems

The Bangko Sentral ng Pilipinas’ (BSP) Monetary Board has named PESONet and InstaPay as Prominently Important Payment Systems (PIPS) pursuant to

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Philippines’ Post Office Partners With UBX to Drive Financial Inclusion

The Philippine Postal Corporation (Post Office) has partnered with UBX, a fintech unit created by the Union Bank of the

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BSP Now on Its Third Phase of Sustainability-Related Regulations

The Bangko Sentral ng Pilipinas (BSP) is now on its third phase of sustainability-related regulations with the recent release of

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Demand for Sustainable Finance on the Rise in APAC

Across Asia-Pacific (APAC), sustainable finance services are growing in popularity among consumers. But despite rising demand for greener and more

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BSP Says Digital Payments Exceeded 30% In 2021

The share of digital payments to total retail payments volume in the Philippines rose to 30.3% in 2021 from 20.1%

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RCBC Collaborates With the CDA to Digitalise Cooperatives in the Philippines

Rizal Commercial Banking Corporation (RCBC) inked a collaboration with the Cooperative Development Authority (CDA) to digitalise cooperatives nationwide. The partnership

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Diokno Steps Down to Welcome Medalla as New BSP Governor

Former Bangko Sentral ng Pilipinas’ (BSP) Governor has stepped down to hand over the leadership of the central bank to

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ING Set to Shutter Its Philippines’ Retail Banking Business Before the Year Ends

ING announced that it will leave the retail banking market in the Philippines before the end of 2022. It will,

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Philippines to Get Gov’t Agencies to Support National Financial Inclusion Strategy

The Malacañang palace, the official residence and principal workplace of the Philippines’ president, has approved a circular institutionalising the whole-of-government

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Cybersecurity Talent Shortage Puts APAC Organizations at Risk

Organizations across Asia are facing challenges in recruiting and retaining cybersecurity talents, a skills shortage that’s putting them at risk

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BSP Urges Banks to Beef up Security Against Cyber Attacks

Bangko Sentral ng Pilipinas (BSP) has urged financial institutions to adopt robust control measures against cyber attacks on retail electronic

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Alternative Lenders Are on the Rise to Plug the Financing Gap for SMEs

In Singapore, small and medium-sized enterprises (SMEs) are struggling to secure sufficient financing from traditional lenders, with most still largely

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