Globe and the Bank of the Philippine Islands (BPI) have completed a Proof of Concept (POC) for Silent Network Authentication (SNA), a verification method designed to replace One-Time Passwords (OTPs). The initiative aims to reduce scams associated with SMS codes while streamlining the user experience. SNA is part of “G Verify,” Globe’s portfolio of network-powered verification solutions. Unlike traditional methods that require users to input codes sent via text, SNA uses real-time network intelligence to authenticate users instantly without manual steps. The companies, both members of the Ayala Group, successfully completed the technical validation of the technology. This process enabled…

J.P. Morgan has announced the global discontinuation of services for its investment analytics subsidiary, Aumni. The move will impact the bank’s operations in the Philippines, with approximately 250 employees expected to be affected across Manila, Cebu, and Baguio. In a statement released on Tuesday, 2 December, the US-based financial giant explained that the decision followed a routine review of its product offerings. “J.P. Morgan regularly reviews its products and client offerings and we have taken the decision to discontinue Aumni’s services globally, which includes its operations in the US, UK, India and the Philippines,” the bank stated. J.P. Morgan acquired…

FinVolution Group’s Philippines Business has secured a multi-million peso (PHP) credit facility from HSBC in the Philippines. This new funding is intended to support the expansion of accessible financial services for underserved yet creditworthy Filipinos. The facility seeks to bolster financial inclusion by offering sustainable and timely credit access. It specifically targets individuals who possess limited or thin credit histories. This move supports FinVolution’s wider strategy to drive advancements in credit technology. It also contributes to building a financial infrastructure that is more inclusive across all its markets. The New York Stock Exchange lists FinVolution Group under the ticker FINV.…

From navigating ‘irrational’ market incentives to achieving operational profitability, DANA CEO Vince Iswara breaks down the contrarian strategies behind scaling Indonesia’s leading digital wallet to 200 million users. He reveals the critical pivot from high-burn growth to sustainable unit economics and why maintaining an ‘underdog’ mindset was essential for survival.

Bank of the Philippine Islands (BPI) has inaugurated its newly transformed branch at the Buendia Center in Makati City. Housed in the former Far East Bank Building, the facility represents the bank’s first full “phygital” flagship, a concept designed to integrate digital transaction efficiency with personalised, physical service. The branch features BPI’s first open-branch layout, which removes traditional barriers to improve visibility and interaction between clients and bank staff. “We want everyone who steps through our doors, whether they are long-time clients, friends, or guests, to feel valued,” said BPI Consumer Banking Head Maria Cristina “Ginbee” Go. “Looking around, you…

State-owned Philippine Guarantee Corporation (PHILGUARANTEE) has signed a Memorandum of Agreement (MOA) with the Bank of Makati to strengthen financial support for micro, small, and medium enterprises (MSMEs). The agreement was formalised during a ceremony in Makati City on 18 November 2025. Under the partnership, PHILGUARANTEE will extend guarantee coverage to the bank’s loan portfolio for eligible MSME borrowers. The initiative aims to create a more stable lending environment and enable further credit accommodations for small businesses. PHILGUARANTEE President and CEO Alberto Pascual highlighted the state corporation’s goal to expand access to capital. “This agreement reflects our continued effort to…

The Bangko Sentral ng Pilipinas (BSP) has confirmed it is reviewing multiple private sector proposals to launch stablecoins in the Philippines. Despite the interest, the monetary regulator is maintaining a cautious approach as it evaluates the associated risks and benefits. Speaking in Hong Kong on 25 November, BSP Deputy Governor Zeno Abenoja noted that the majority of proposals involve dollar-backed stablecoins, with fewer submissions for peso-backed options. The proposed use cases largely focus on cross-border retail transactions, particularly remittances, as well as domestic retail payments. The central bank is currently using sandbox trials to assess operational viability. “In that limited…

Rizal Commercial Banking Corporation (RCBC) has announced a partnership with Relaxie, the European operator of the Tarakabayan and Power MIMS Ecosystem, to serve overseas Filipinos in Europe. The collaboration was formalised at the Singapore FinTech Festival 2025. The agreement aims to advance financial inclusion by embedding RCBC’s digital banking products directly into Relaxie’s EU-based platforms. These offerings include savings, remittances, credit, and payments. This partnership designates Relaxie to enable financial connectivity between the Philippines and Europe, covering services such as digital onboarding and settlements. Crucially, the collaboration ensures full adherence to regulations in both jurisdictions. Lito Villanueva, Executive Vice President…

EastWest Bank, delivery platform Foodpanda, and Visa have jointly launched a new co-branded credit card in the Philippines aimed at encouraging consumers to shift towards cashless payments. Launched in Makati on Tuesday, the card offers specific benefits designed to entice users away from cash transactions. These perks include a 10% cashback on foodpanda orders worth up to PHP 4,000. They will all be credited on a weekly basis. Additionally, the annual fee is waived for the first year. Plus, the initial batch of applicants will also receive a six-month “pandapro” membership. Foodpanda Philippines noted that this is its first co-branded…

Digital lender GoTyme Bank has introduced a new feature allowing its customers to buy, sell, and hold cryptocurrency directly within its mobile application. In a statement, the bank announced that users can now access 11 specific cryptocurrencies through the platform. The supported digital assets include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), Polkadot (DOT), Litecoin (LTC), Bitcoin Cash (BCH), Avalanche (AVAX), Uniswap (UNI), Chainlink (LINK), and Aave (AAVE). The new feature, branded as “GoCrypto,” is designed to facilitate instant funding and withdrawal between cryptocurrency and regular currency. By integrating these capabilities directly into the banking app, the service removes…

Philippine banking infrastructure provider Higala has closed a US$4 million seed funding round to expand digital services for rural banks and microfinance institutions. Investors in the round include Talino Venture Studios, Chemonics International, Kadan Capital, Tenco Capital, and 1982 Ventures. According to Higala Chairman Jamey Butcher, the round was expanded from an initial target of $2.8 million due to increased investor interest in the firm’s solutions. The funding aims to accelerate the financial inclusion capabilities of SynerFi, an open payments platform designed to reduce barriers for smaller financial institutions participating in the InstaPay network. “We are proud of this monumental…

In this exclusive roundtable jointly hosted by Fintech News and OneConnect Financial Technology banking C-levels from Philippines debate whether we’ve fallen into the trap of incremental gains and end up dreaming too small about how AI can potentially reconfigure banking. Hear real world use cases of top banks in the Philippines’ are leveraging AI to take their banks to the next level. Roundtable speakers: Matthew Chen, CEO, OneConnect Financial Technology Jerry Ngo, CEO, East West Banking Corporation Manish Bhai, CEO, UNO Bank Lito Villanueva, EVP and Chief Innovation and Inclusion Officer, RCBC Gigi Puno, CTO, GoTyme Bank Nishy De Silva,…

The Bank of the Philippine Islands (BPI) has entered into a partnership with digital payment services provider SingX Singapore Pte Ltd to offer real-time remittance services. The collaboration specifically targets overseas Filipinos residing in Singapore, Hong Kong, and Australia. Through this partnership, BPI clients can transfer funds directly to beneficiaries’ BPI accounts using SingX’s fully digital platform. Joel De Vera, Head of Strategy, Products, and Support Group for Institutional Banking at BPI, stated that the initiative aims to make remittance services more accessible and cost-effective. “SingX is a strategic partner for BPI because of its innovative technology, global reach, and…

The Philippine Deposit Insurance Corporation (PDIC) has expanded the reimbursement options for depositors of closed banks who are eligible for outright payment without the need to file deposit insurance claims. Depositors in this category can now opt to receive payments through bank transfers and electronic wallets, specifically GCash, Maya, and DCPay. This initiative is being implemented in partnership with the Development Bank of the Philippines (DBP), utilising its Multi-Channel Disbursement Facility (MCDF). The waiver for filing deposit insurance claims applies to depositors with outstanding balances of up to P500,000. To qualify for this automatic reimbursement, depositors must be individuals or…

The Philippine Competition Commission (PCC) has approved the acquisition of a majority stake in UCPB Savings Bank, Inc. by the Philippine Veterans Bank. The antitrust body determined that the purchase does not undermine competition within the local banking sector. According to the PCC, Veterans Bank acquired approximately 97.55% of the savings bank’s total issued shares for PHP 2.7 billion. The transaction stems from a share purchase agreement dated 8 July 2025. It was signed between Veterans Bank and the Land Bank of the Philippines, the ultimate parent entity of UCPB Savings. This follows the savings bank’s privatisation under Memorandum Order…

The Bangko Sentral ng Pilipinas (BSP) and credit reference agency TransUnion have signed a memorandum of agreement (MOA) to develop the first e-learning module designed to improve credit health education for Filipino consumers. The agreement, signed on 18 November at the BSP’s 2025 Financial Education Stakeholders’ Congress, will facilitate the creation of a national-level credit education course via the BSP E-Learning Academy (BELA). Scheduled for release early next year, the course will utilise slides, scenario-based exercises, and video materials to educate users on financial management. The module will be accessible to the public via the BELA website and the BSP…

Digital financial services platform Atome Philippines has announced a strategic partnership with independent fuel company SEAOIL Philippines to provide exclusive fuel discounts to its cardholders. The collaboration aims at managing daily living costs. It allows holders of the Atome Card to receive discounts of up to PHP 5 per litre on SEAOIL fuel products. To access the savings, customers must utilise the PriceLOCQ mobile application. The mechanism requires cardholders to download the app, pre-purchase fuel through the platform, and redeem it at participating SEAOIL stations. This digital-first approach aligns with Atome’s user base. As of today, the company reports that…

The Bangko Sentral ng Pilipinas (BSP) has clarified that bank customers can withdraw more than PHP 500,000 in cash if they provide documentation proving the transaction’s legitimate purpose. The statement comes as officials address concerns that the new cash cap may have contributed to the country’s recent economic slowdown. In a press release issued on Tuesday, the BSP explained that the limit, implemented via Circular No. 1218 in September, applies only to cash withdrawals. Non-cash transactions, such as cheques and online transfers, are exempt from additional requirements. For cash withdrawals exceeding the threshold, customers must present proof, such as a…

Payments platform HitPay has announced a partnership with Visa Acceptance Solutions to facilitate card payment acceptance for small and medium-sized enterprises (SME) in the Philippines. The collaboration will enable local merchants to process both in-store and online transactions. Through the Visa Acceptance Platform (VAP), HitPay will offer businesses access to payment capabilities, including EMV-certified card readers and mobile-based solutions. The model allows SMBs to adopt payment systems without establishing direct bank contracts, a process described by the companies as often lengthy and complex. Aditya Haripurkar, CEO at HitPay, stated that the move aims to lower entry barriers for smaller merchants.…

Regional surveillance group AMRO has suggested that Philippines regulators consider implementing sector-specific loan limit for consumer borrowers. The proposal aims to mitigate the risks of household over-indebtedness as credit card lending in the country continues to rise. Following its annual consultation visit, the ASEAN+3 Macroeconomic Research Office (AMRO) stated that caps on banks’ exposure to the retail segment could serve as a safeguard against financial strain. “To mitigate risks of household over-indebtedness, authorities may consider operationalising tools such as a debt-service ratio limit, and applying sectoral loan limits to consumer loans,” AMRO stated in its report. The group also suggested…