Kredit Hero, an AI small and medium-sized enterprise (SME) loan marketplace, has officially joined Fintech Alliance.PH, a digital and fintech industry association in the Philippines. This alliance signifies a pivotal moment for Kredit Hero. It enables the company to join forces with leading fintech entities to promote innovation, responsible lending practices, and financial inclusion. Michel de Rijk, Co-Founder of Kredit Hero, stated that the company’s objective is to enhance the speed, intelligence, and efficiency of financing for both SMEs and financial institutions. “Joining Fintech Alliance.PH strengthens our mission to drive real financial inclusion by enabling financial institutions to make faster…

It’s been one year since Boost Bank launched in Malaysia — so what have they achieved, and where are they headed next? In this milestone interview, Boost Bank CEO Fozia Amanulla joins Fintech News Network’s Chief Editor Vincent Fong to reflect on their journey so far: from hitting RM700 million in deposits and launching RM160 million in SME loans, to onboarding unbanked Malaysians through embedded banking

John Januszczak will step down as President and Chief Executive Officer (CEO) of UBX Philippines Corp., the financial technology (fintech) arm of Union Bank of the Philippines, Inc. (UnionBank), effective 16 June 2025. UnionBank announced on Tuesday that the UBX board has accepted his resignation. Mario Domingo, UBX’s Chief Commercial Officer, will assume the role of officer in charge to ensure a smooth transition. John Januszczak has held the top position at UBX since the company began operating in 2018. Jose Emmanuel U. Hilado, Chairman of the UBX Board of Directors, stated, “We appreciate and respect John’s decision to focus on…

Coins.ph announced that its Philippine Peso stablecoin (PHPC) is moving out of the BSP Regulatory Sandbox Framework. This development enables increased minting capacity for PHPC, which will facilitate larger transactions. The successful sandbox pilot for PHPC commenced in 2024. Within two months of its start, PHPC met its key performance indicators. It is an indication of demand and potential applications for the stablecoin. The completion of the regulatory sandbox is a notable step in the Philippines’ digital currency landscape. With the sandbox restrictions lifted, Coins.ph is preparing for the next phase of PHPC’s growth, adhering to necessary regulatory requirements. This move…

TransUnion anticipates continued momentum and growth in the consumer credit market in the Philippines. The company stated that a stable macroeconomic environment and strong household consumption support this outlook. Easing inflation and increasing retail activity should create a more favourable environment for both lenders and borrowers. This particularly benefits those new to credit or underserved. According to the Philippine Statistics Authority (PSA), the country’s Gross Domestic Product (GDP) grew by 5.4% year-on-year in the first quarter of 2025. Wholesale and retail trade, motor vehicle repair, financial services, and manufacturing industries primarily drove this growth. Headline inflation also eased to 1.3%…

UnionBank credit cardholders can access various dining and shopping discounts this summer season. Promotions include offers on food and everyday essentials. Cardholders can get 25% off GrabFood, capped at PHP 300, with a PHP 1,000 minimum spend using code UBMOREMON, valid twice on Mondays until 30 June 2025. Melo’s offers a Steakhouse Set Menu for two at a discount of up to 54% until 30 June 2025. Stoned Steaks and Ponce offer a 50% discount on food bills every Monday to Thursday until 30 June 2025. This promotion has specific minimum spend requirements. Jollibee offers a free 1-pc Chickenjoy with…

The Bangko Sentral ng Pilipinas (BSP) is proposing to formalise regulatory relief measures for banks in the Philippines impacted by natural disasters. This aims to bolster the operational resilience of financial institutions during crises, allowing them to continue providing essential services. A draft circular from the BSP outlines the institutionalisation of temporary relief policies. These were previously granted to banks impacted by severe weather events in late 2024, such as Tropical Storm Kristine and Super Typhoons Leon, Ofel, and Pepito. These amendments to existing policies, the central bank stated, will offer additional regulatory support. The support aims to enhance banks’…

MoneyHero Limited has announced a partnership with Rizal Commercial Banking Corporation (RCBC) through RCBC’s card servicing entity, RCBC Bankard Services Corporation (RCBC Credit Cards). The collaboration will see MoneyHero incorporate a range of credit cards by RCBC, including rewards, lifestyle, travel, and premium options, onto its digital platform. This integration aims to enable Filipinos to discover, compare, and apply for credit cards that suit their financial requirements. This alliance expands MoneyHero’s credit card offerings within the Philippines. This partnership intends to improve customer experience and widen access to personal financial solutions. It does so by integrating MoneyHero’s digital expertise with RCBC’s…

Emilio B. Aquino’s seven-year tenure as Chairperson of the Securities and Exchange Commission (SEC) concludes on 5 June 2025. Aquino, the first certified public accountant and lawyer to hold the SEC Chairperson role, emphasised the importance of upholding high standards of transparency and accountability in managing public funds. Malacañang officially named prominent lawyer Francisco Edralin Lim as his successor on Tuesday. Lim brings extensive experience from the legal and financial sectors. He previously served as President and Chief Executive Officer of the Philippine Stock Exchange from 2004 to 2010 and is a senior partner at Angara Abello Concepcion Regala &…

GCash has introduced a new feature designed to provide users with complimentary access to insurance. This initiative aligns with broader efforts in the Philippines to expand the local insurance sector. The platform now offers free health insurance, underwritten by FPG Insurance, to eligible users who purchase prepaid mobile credits for themselves through the app’s “Buy Load” service. This aims to help users prepare for unforeseen medical or hospitalisation expenses. Winsley Bangit, VP and Group Head of New Businesses at GCash, stated that this initiative, facilitated by their GInsure platform in collaboration with FPG Insurance, demonstrates a commitment to making financial…

In today’s rapidly evolving financial ecosystem, the future of deposits is undergoing a dramatic transformation. The latest report from cloud banking platform Mambu and Findexable, The Future of Deposits 2025: Reshaping for Change, offers valuable insights into how the forces of economic change, technological innovation, and shifting consumer expectations are reshaping the deposit landscape. How Digital Forces Are Reshaping Bank Deposits As banks face the pressures of competition from fintechs, global neobanks, and digital-first platforms, it’s clear that traditional deposit models are no longer sufficient. Here’s a brief look at the pivotal themes from the report: Rising Competition from Digital-first…

Home Credit Philippines and Puregold have partnered to expand access to financial services for Filipinos. On May 30, 2025, Home Credit Philippines announced the availability of the Home Credit Card in select Puregold stores nationwide. This collaboration aims to make credit more accessible and support communities through practical financial services. The Home Credit Card offers a PHP 20,000 credit limit and a 45-day interest-free grace period, suitable for first-time cardholders. Cardholders can waive the membership fee for the initial three months. They can also continue to waive it by spending at least PHP 15,000 monthly thereafter. Additionally, cardholders can receive…

Banking institutions across Asia Pacific are under increasing pressure to modernise. Whether in current or emerging markets, banks are riding the tide of a rapidly shifting landscape defined by digital technologies, adapting to regulatory requirements, rising customer expectations, and stiff competition from nimble fintech startups. Yet, legacy systems remain a primary reason why banks cannot keep up with the market and innovate fast enough. Despite the advances in digital transformation, according to a news report by The Asian Banker, approximately 95% of banks in Asia are still using second and third generation banking technology. These old-school platforms were never designed…

On June 4, 2025, the Securities and Exchange Commission (SEC) in the Philippines announced the launch of “SEC AInnovation,” an AI-powered chatbot designed to provide real-time assistance and answer public queries regarding the Commission’s regulations. The chatbot officially rolled out on June 2. SEC AInnovation functions as a chatbot interface that synthesises legal information concerning the SEC’s mandates and processes, aiming to deliver accurate and simplified responses. Its knowledge base includes laws enforced by the SEC, such as Republic Act (RA) No. 11232 (the Revised Corporation Code) and RA No. 8799 (the Securities Regulation Code), along with other implementing rules,…

Digital payments in the Philippines are advancing with the introduction of Tap to Pay, a new contactless payment system. The system offers a convenient, quick, and secure transaction method for customers. Developed through a collaboration between Singapore-based fintech firm Open Fabric and GCash, the NFC payments aim to modernise payment methods for Filipinos. The collaboration has facilitated faster integration with Mastercard. The new technological platform allows GCash users to make payments to Mastercard-accepting merchants across the Philippines. It also offers a secure and more convenient way to transact. The system utilises Open Fabric’s encrypted tokenisation transaction technology. It intends to…

In this episode of Fintech Fireside Asia, I sit down with Tessa Wijaya, Co-founder and COO of Xendit, one of Southeast Asia’s leading fintech unicorns. Known by many as the “Stripe of Southeast Asia,” Xendit has raised over $500 million and powers billions in annual payments across Indonesia, the Philippines, and beyond. But behind the billion-dollar valuation lies a much grittier story. Tessa opens up about: Knowing when to let go of a failing idea What it really took to build payment infrastructure in Southeast Asia The system crash that nearly broke Xendit

Equinix, Inc. has announced the completion of its acquisition of three data centres in Manila, Philippines. Equinix made the acquisition from Total Information Management (TIM), a technology solutions provider. This move marks Equinix’s expansion into the Philippine market. The digital economy in the Philippines reached USD $45 billion in 2024, representing 8.5% of the country’s Gross Domestic Product. This sector includes digital infrastructure, e-commerce, and digital media/content. Factors such as the growing digital population, cloud advancements, and government initiatives like the National Broadband Plan are contributing to the demand for digital infrastructure and advanced technologies. The newly acquired data centres host…

ADVANCE.CBP, a Special Accessing Entity (SAE) regulated by the Credit Information Corporation (CIC) in the Philippines, announced a new agreement with Korea Credit Bureau (KCB). KCB is a private credit bureau in South Korea, licensed by the Financial Services Commission (FSC). The Memorandum of Understanding (MOU) was signed at the ADVANCE.CBP office. Ben Baltazar, President and CEO of Credit Information Corporation (CIC), was also in attendance. This partnership aims to strengthen cross-border financial accessibility between Korea and the Philippines. It will establish an API-based credit information linkage system between the two countries. Under the agreement, Overseas Filipino Workers (OFWs) residing…

The Securities and Exchange Commission (SEC) in the Philippines has granted approval to G-Xchange, Inc. (GCash) and Macodimarc Technology Corporation (Pluang PH) to enter its regulatory sandbox. This move, formally announced on 2 June 2025, allows both companies to trial their innovative platforms within a controlled regulatory environment. The framework also provides for the possibility of regulatory relief for sandbox participants. It allows for modifications or replacements of certain licensing, registration, or compliance requirements during the sandbox period. An information technology firm, Pluang PH, will test a mobile application. This app enables retail investors in the Philippines to trade and…

The Securities and Exchange Commission (SEC) has revoked the corporate registrations and secondary licences of 56 lending and financing companies due to their failure to meet reportorial obligations. This action is part of the SEC’s ongoing efforts to ensure compliance within the sector. On 29 May, the SEC’s Financing and Lending Companies Department (FinLenD) cancelled the primary registrations and certificates of authority for 47 companies. These companies were deemed delinquent under Republic Act No. 11232, also known as the Revised Corporation Code (RCC). The Commission has the authority to declare a corporation delinquent, as per Section 177 of the RCC.…