GCash is working to broaden access to insurance for its users through its platform, GInsure. Traditionally, insurance has been considered a less accessible financial product for many Filipinos, often due to perceived high costs and complex processes. GInsure, introduced in 2021, aims to address these barriers by providing various coverage options directly through the GCash app. As of the first quarter of 2025, GInsure has reached over 14.6 million users, with more than 51.4 million policies issued. This indicates a notable increase in the adoption of digital insurance solutions among the platform’s user base. Winsley Bangit, GCash Vice President and…

Union Bank of the Philippines has successfully raised USD $282.5 million through a dual-tranche offering of peso-denominated fixed rate bonds. The Philippine-based bank stated it will use the proceeds to extend term liabilities, expand its funding base, and support general corporate requirements. It includes business expansion initiatives. This issuance marks UnionBank’s re-entry into the domestic capital markets in 2023. It forms part of the bank’s expanded PHP 100 billion bond programme, which occurred on May 9, 2025. This significant increase allows UnionBank the flexibility to conduct multiple future issuances of unsecured and unsubordinated peso bonds, tailoring the form, amount, tenor, and…

The Philippine Statistics Authority (PSA) and GCash, a prominent finance application in the Philippines, have partnered to integrate the National ID eVerify system for more accessible and swifter e-wallet account verification. This collaboration aims to streamline identity checks and broaden access to digital financial services for more Filipinos, supporting the country’s financial inclusion agenda. This initiative enables Filipinos to use their National ID, whether the physical card, paper, or digital version, to verify their GCash accounts, thereby gaining access to essential financial services. The National ID system functions as a universal proof of identity recognised by both government agencies and…

Rizal Commercial Banking Corporation (RCBC) is focusing on making its digital loan products more accessible across the Filipino population. Moving beyond traditional banking, RCBC has expanded its digital presence through platforms like DiskarTech and ATM Go, achieving nationwide coverage, including rural areas. The bank also launched RCBC Pulz, its mobile banking application, to provide digital banking access to Overseas Filipino Workers (OFWs) and Filipino migrants. Lito Villanueva, Executive Vice President and Chief Innovations and Inclusion Officer at RCBC, commented on the broader role of banks in financial empowerment. “Credit has always been part of Filipino life. But access to secure…

FinTech Alliance.PH held its second-quarter Digital Industry Caucus and Manila Tech Summit Media Launch on June 24, 2025.  The event, hosted at The Marquis Events Place, gathered representatives from government, diplomatic missions, and the private sector. Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi Fonacier delivered the keynote address, emphasising the need for an industry-led fraud bureau in the Philippines to foster a more secure digital economy. Strong collaboration between regulators and the private sector is crucial, she emphasised. This collaboration helps combat fraud, build consumer trust, and promote financial inclusion. Deputy Governor Fonacier stated, “Continuing engagement with industry players…

Flash Express, a logistics provider in the Philippines, and GCash have collaborated to launch Scan on Delivery. Aiming to digitise logistics payments, this new solution streamlines deliveries for customers. It also simplifies payment acceptance for riders. The partnership addresses common challenges associated with cash-on-delivery (COD), a prevalent payment method for online shoppers. With Scan on Delivery, customers can pay for their parcels instantly upon receipt by scanning a GCash QR code, removing the necessity for physical cash transactions. Reginald Rex Pumihic, Flash Express Communications and Government Relations Deputy Director, commented on the collaboration. “Flash Express… is always on the lookout…

Rizal Commercial Banking Corp. (RCBC) has partnered with Hungry Workhorse Consultancy, Inc. to introduce an online marketplace for Application Programming Interfaces (APIs), aiming to enhance the digital capabilities of financial technology (fintech) companies. The collaboration will see RCBC offering a range of APIs through a platform powered by Hungry Workhorse. Hungry Workhorse is the official Philippine partner of India-based APIwiz. APIwiz builds the Digital Marketplace 2.0 platform on its centralised API management system and APIOps framework. As part of the agreement, Hungry Workhorse will contribute expertise in design thinking, implementation support, and digital talent development for the initiative. Angelito M.…

JuanHand reports disbursing over PHP 55 billion in nano-loans. The company states that its AI-powered lending platform has assisted over 2.5 million first-time borrowers, supporting efforts to bridge financial access gaps in the Philippines. The fintech firm indicates it uses a proprietary AI engine to assess creditworthiness based on alternative data. This engine was developed through its experience in high-volume fintech markets. This system can grant loan approval within minutes with just one valid ID. JuanHand’s AI engine automates various stages of the lending process, from risk assessment and fraud detection to customer onboarding and credit scoring. This approach allows…

Cashalo, a digital financial services provider in the Philippines, has secured a loan funding facility of up to USD $75 million from Community Investment Management (CIM), a global private investment firm. This funding is intended to support the expanding operations of Cashalo in the Philippines. It is also to support the company’s objective to extend access to credit. Luke Stidham, President of Cashalo, commented on the agreement. “This partnership will enable us to accelerate our mission to expand financial inclusion and social mobility throughout the Philippines.” The partnership with CIM coincides with Cashalo’s first anniversary as part of Empower Finance,…

The Bangko Sentral ng Pilipinas (BSP) is intensifying its efforts against counterfeit currency through the nationwide introduction of the first polymer banknotes in the Philippines. They are now available in PHP 50, PHP 100, PHP 500, and PHP 1,000 denominations. These notes feature enhanced security and improved durability. Such an initiative aims to safeguard the integrity of the nation’s currency. The polymer series banknotes were initially launched in the Philippines back in April 2022 with just the PHP 1,000 banknote. According to Hermogenes Buenaflor Jr., a Bank Officer at the BSP Mindanao Regional Office, the synthetic material used in these…

In just under three years, Trust Bank has gone from a new entrant to becoming Singapore’s 4th largest bank. Fintech News Networks Chief Editor sits down with Trust Bank CEO, Dwaipayan Sadhu where he reveals the secret sauce behind how they scaled to over a million customers in Singapore’s overbanked market. In this video, we talk about: Why over 70% of new users come through referrals Their approach to building a modern core banking stack from scratch How a full banking license gave them an edge over digital-only challengers

A European digital bank has submitted an application for a digital banking license in the Philippines, according to the Bangko Sentral ng Pilipinas (BSP), Inquirer.net reported. BSP Deputy Governor Chuchi G. Fonacier confirmed on Tuesday that this particular digital bank has completed the necessary application requirements. Ms. Fonacier noted that while other digital banks have expressed interest in applying, they are still in the process of fulfilling their documentary requirements. The BSP had previously lifted a three-year moratorium on digital banking licenses in January, allowing for an additional four players to enter the market, either as new entities or by…

A partnership between Suy Sing Commercial Corporation, a wholesale grocery supplier in the Philippines, and Fuse Financing Inc., the lending arm of GCash, has been formed, with the aim of providing small business owners with increased access to credit. The collaboration aims to support the financial needs and growth opportunities of micro and small businesses. It includes independent supermarkets, mini-marts, groceries, drugstores, and bakeshops. The partnership offers easier financing solutions through GGives for Business, providing business owners with access to zero-interest loans. These loans help businesses finance expansion, strengthen operations, and grow inventory. Such an initiative supports essential community retailers.…

The Philippine Department of Finance (DOF) affirmed its commitment to implementing a framework for crypto-assets. This initiative aims to address cross-border tax evasion and illicit financial flows. It also aligns with President Ferdinand R. Marcos, Jr.’s agenda to enhance fiscal discipline through efficient and transparent tax administration. Finance Secretary, Ralph G. Rect,o emphasised the importance of robust systems for collaboration to counter tax evasion and illicit transactions, particularly as digital currencies become a more common means of exchange. “The government must ensure that crypto-asset users are paying their fair share of taxes and that no illicit financial activity goes unpunished,”…

Salmon Group Ltd (Salmon) has announced the completion of a USD $88 million fundraise. This funding will support the company’s efforts to expand financial services and credit access within Southeast Asia. The funding comprises a USD $60 million drawdown from a new three-year, USD $150 million Nordic bond framework agreement, alongside USD $28 million in new equity. The equity was raised from a group of institutional investors, including Antler Elevate, as well as existing Salmon shareholders. Notable existing investors include the International Finance Corporation, Abu Dhabi’s sovereign wealth fund ADQ/Lunate, Northstar, and Back in Black Capital, in addition to several…

The Securities and Exchange Commission (SEC) in the Philippines has cancelled the corporate registrations and secondary licences of 401 lending companies. The companies’ failure to meet reportorial requirements prompted this action. It forms part of the Commission’s efforts to address non-compliant firms and safeguard investors. On May 30, the SEC’s Financing and Lending Companies Department (FinLend) issued an order to revoke the corporate registrations of these 401 corporations. The SEC identified these companies as delinquent for not submitting their required reports. The companies failed to file several required documents. These included their audited financial statements and general information sheets. Additionally,…

Billease has announced a collaboration with Blueshift Energy to enhance access to solar energy for Filipino households. This partnership marks Billease as one of the first Buy Now, Pay Later (BNPL) applications in the Philippines to offer dedicated solar energy financing solutions. With rising electricity costs nationwide, many Filipino families are seeking alternatives to manage household expenses. While solar power offers a long-term option, its initial costs and traditional financing processes have often made it inaccessible to most households. Kristofer Huang, CEO of Blueshift Energy, stated that this cooperation with Billease aims to empower more families to manage their energy…

J.P. Morgan is strengthening its presence in the Philippines, with investments focusing on supporting the growth of digital payments and financial innovation. Max Neukirchen, J.P. Morgan’s Global Co-Head of Payments, highlighted the significant opportunities presented by the country’s expanding e-commerce sector. In an interview, Neukirchen noted the bank’s commitment to investing in technology and fostering partnerships to deliver payment solutions. He expressed optimism about the digital payment landscape in the Philippines. Neukirchen attributed its potential to a digitally connected population and a developing e-commerce ecosystem. With a high percentage of adults owning mobile phones and accessing the internet, the environment…

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