South Asialink Finance Corporation (SAFC) has officially announced a new executive leadership transition as the company appointed Maricel Dejongoy to serve as its incoming President and CEO effective July 1. Dejongoy brings extensive institutional expertise gathered from her tenure across the wider Asialink Group of Companies. She previously worked as the Auto and Truck Loan Group Head at Asialink Finance Corporation. In her prior role, she managed critical lending verticals and supported broad business expansion initiatives. The incoming chief executive stated her dedication to building upon the strong operational momentum established by previous management. She plans to use this foundation…

HitPay has officially rolled out its latest transaction service for local merchants operating in the Philippines, a gateway that enables local businesses to accept funds seamlessly from over one billion global users of WeChat Pay. Merchants can now cater to the growing influx of international tourists by offering them a highly familiar digital wallet option during checkout. The payment system automatically processes these foreign currency transactions and settles the final funds directly in Philippine pesos. Sellers can capture these cross-border payments through multiple digital channels, including online checkout portals and custom payment links. Physical storefronts can also utilise the platform…

The Securities and Exchange Commission (SEC) has formed a strategic alliance with Mynt and Fuse Financing to elevate local financial literacy. The regulatory body signed a memorandum of understanding with the digital financial firms on June 29 at the W Global Center in Taguig. This collaborative SEC initiative aims to promote responsible credit practices alongside Mynt while strengthening overall consumer protection. The partnership will focus on shielding digital wallet users from unlawful online activities and predatory lending schemes. The organisations plan to jointly develop multimedia educational materials that carry official regulatory approval. These public awareness campaigns will roll out across…

Netbank has partnered with consumer finance platform Skyro to power its cash management system. The integration provides the digital banking infrastructure needed to automate Skyro’s local payment collections. Skyro has deployed the payment collection product to offer borrowers real-time payment options. Customers can settle their loans instantly through supported banking or e-wallet channels. This automation removes manual verification delays, reduces operational bottlenecks, and improves collection efficiency for the lender. The integration improves the payment process across Skyro’s product portfolio. This includes product loans for retail purchases, cash loans for personal needs, and its revolving digital credit line, SkyroCredit. By using…

Lucose Eralil has officially stepped down as the Executive Vice President and worked as the COO at Security Bank effective today. The departure follows the formal conclusion of his employment contract on June 30 as announced on his LinkedIn. He also held the crucial position of Head of Enterprise Technology and Operations during his tenure at the bank. In these roles, Eralil spearheaded multiple digital transformation initiatives and operational strategies across the organisation. He led the implementation of various advanced banking technologies and cloud infrastructure upgrades to elevate customer experiences. His leadership in enterprise technology significantly improved the digital payment…

87% of GXBank’s small-business borrowers had never held a loan before. Deputy CEO Hildah Hamzah explains how the bank reaches them and still makes money. Hildah Hamzah is Deputy CEO and COO of GXBank, Malaysia’s first digital bank. She joined as employee number three and helped grow the team to around 400 people, with the bank focused on serving the B40 and M40 segments. She sat down with Fintech News Network to talk through whether digital banks have delivered on the financial inclusion they promised. In this episode: How 87% of its MSME borrowers were new to credit, and the…

Over recent years, more people from the Philippines have been turning to Contracts for Difference (CFD) trading, a change that can largely be attributed to the rising popularity of localized trading platforms that remove many of the previous barriers to entry. The main motivating factors are the low initial capital requirements, high leverage, being able to profit in both rising and falling markets as well as access to global markets through FP markets. The explosive growth of Contract for Difference (CFD) trading in the Philippines that’s been happening over the past few years has come about mostly as the result…

Mynt, the parent company of the digital wallet GCash, has submitted its Registration Statement to the Philippines Securities and Exchange Commission and also filed an application for listing on the Main Board of the Philippine Stock Exchange for its highly anticipated IPO. The proposed initial public offering is expected to take place in the fourth quarter of the year, according to Mynt’s press release. The offering could raise up to US$ 1.51 billion (PHP 92.3 billion) based on a target offer price of US$ 0.16 (PHP 10.00) per share. This financial projection assumes the full exercise of the overallotment option…

Bank of the Philippine Islands (BPI) will permanently waive transaction fees for electronic fund transfers processed through InstaPay and PESONet. The policy shift takes effect on July 1 across all secondary digital banking channels operated by the institution. According to a report by InsiderPH, the complete elimination of transaction charges applies to the retail BPI mobile application, the BPI Online banking portal, the VYBE digital wallet, and the BizKo business platform. The strategic decision aligns with the ongoing financial inclusion directives championed by the Bangko Sentral ng Pilipinas (BSP). The central bank continues to urge local financial firms to adopt…

The Bangko Sentral ng Pilipinas (BSP) has established stricter rules for supervised institutions operating a digital financial marketplace. The central bank issued Circular 1237 to enhance consumer protection and risk management across these online platforms. These digital platforms allow consumers to access varied products like loans, insurance, and investments from multiple service providers. The platforms may also feature non-financial lifestyle deals tied to core banking or digital wallet services. Operators must now maintain a minimum capital requirement of PHP 1 billion to support continuous technology and cybersecurity upgrades. BSP Governor Eli M. Remolona Jr. stated that the institution promotes responsible…

Global financial technology firm Revolut appears to be gearing up for its official market launch in the Philippines after opening an early access waitlist for local users, although the company has not yet confirmed when the rollout will begin. As of publication, Revolut is not listed under the Digital Banks (DGBs) section of the Bangko Sentral ng Pilipinas’ Directory of Banks and Non-Bank Financial Institutions. Neither Revolut nor the BSP has also announced any official launch date or licensing approval. The activation of the waitlist signals that the digital banking platform is accelerating its expansion efforts across Southeast Asia. This…

The Bank of the Philippine Islands (BPI) will officially decommission every standalone Robinsons Bank digital channel starting 1 July 2026. This transition marks the final milestone of the post-merger integration, according to an advisory on the Robinsons Bank website. The scheduled shutdown covers the online banking portal and the dedicated mobile application. The bank will also close its primary website alongside all official social media profiles and support mailboxes. Former clients must execute all online banking transactions through the primary BPI mobile application and web portal moving forward. Account holders can direct their customer service inquiries to the main BPI…

Sterling Bank of Asia has selected the Infosys Finacle Software-as-a-Service (SaaS) platform to drive its next-generation digital transformation. The strategic technology shift will replace legacy infrastructure with advanced automation systems, according to an official press release. The bank will deploy a suite of digital applications, including Finacle Core Banking, Customer Data Hub, Trade Finance, and Origination solutions. By shifting to a cloud-hosted framework, the thrift bank intends to lower initial infrastructure investments while simplifying day-to-day IT operational complexities. The new deployment pattern allows the financial institution to access periodic software upgrades, security patches, and structural feature enhancements automatically. This technical…

The Philippine Bank of Communications (PBCOM) has named former Security Bank executive John Cary L. Ong as its next president and CEO. The board appointed Ong as CEO designate on Wednesday, according to a report by Business Inquirer. He will formally assume the position after completing a minimum three-month transition period and securing necessary regulatory approvals. Ong most recently served as executive vice president and head of the wholesale banking segment at Security Bank. He oversaw corporate banking, deposits, and asset business units during his tenure. Ong brings three decades of banking experience to the role, having previously held senior…

The Bangko Sentral ng Pilipinas (BSP) has directed major financial institutions in the Philippines to replace SMS based OTP verification with stronger authentication technologies. This mandate requires covered banks and digital wallet operators to transition to biometric, behavioural, adaptive, or passwordless solutions by 25 June 2026, according to an official press release. The directive applies to entities averaging more than PHP 75 million in monthly online transactions. This regulatory threshold covers most universal, commercial, and digital banks, alongside select rural and cooperative institutions. Regulators require these stronger security measures specifically for high risk transfers. Institutions will evaluate risk based on…

Rizal Commercial Banking Corporation (RCBC) has partnered with Tambunting to deploy digital banking services across more than 100 pawnshop branches in the Philippines. The agreement integrates the RCBC ATM Go agency banking platform into the Tambunting network to reach underserved and remote communities. Currently, 57 Tambunting locations offer these financial services. The companies plan to expand this deployment to 101 branches by the end of July. Through compact mobile terminals, partner establishments can process cash deposits, QR code withdrawals, and international card transactions. The platform also supports bill payments, mobile loading, fund transfers, and government benefit disbursements. Account holders can…

Coins.ph has partnered with London-based payment infrastructure provider Clear Junction to expand its cross-border financial services into Europe and the United Kingdom. The company will use this infrastructure integration to help corporate and financial institution clients process transactions in Euros and British Pounds. This collaboration introduces virtual International Bank Account Numbers for enterprise clients to track cross-border fund movements through named accounts. The payment system supports Single Europe Payments Area Instant and UK Faster Payments protocols. Both are used to settle international transfers in seconds rather than days. These integrated features consolidate fund collection and payout distributions across different countries…

The Land Transportation Franchising and Regulatory Board has added Maya as a digital channel to distribute the new fuel subsidy to public utility vehicle (PUV) drivers in the Philippines, as reported by TechNode Global and The Manila Times. The partnership allows public transport operators to receive their government financial assistance directly into their digital wallets. Authorities aim to accelerate the distribution process and provide a more efficient alternative to traditional cash disbursements. Using a digital channel ensures that drivers can access their funds immediately to cope with rising operational costs. Recipients can use the application to pay for petroleum products…

The Philippine Department of Information and Communications Technology (DICT) has expanded its partnership with Google Cloud to integrate enterprise AI and upgrade national cybersecurity frameworks, according to an official press release. The collaboration aims to simplify public service delivery while facilitating the transition of the country into a highly productive and secure digital economy. Under the new programme, the government will deploy conversational AI agents to help citizens clarify administrative procedures for setting up new micro-businesses. Officials plan to equip more than 50,000 public servants with the Gemini Enterprise application to accelerate backend response times. “We are empowering our public…

Philippine digital wallet GCash has officially transitioned to using in-app OTPs to replace traditional SMS verification today, as reported by Walastech and Gizguide. This transition aims to improve account security by keeping the entire authentication process within the mobile application interface. The new system prevents fraudsters from intercepting verification codes through network vulnerabilities or text message phishing scams. Customers must now rely on secure in-app OTPs generated by GCash and delivered via push notifications to authorise money transfers and account logins. The company advised users to ensure their device notifications remain enabled to prevent any disruption to their daily account…