VYBE, the e-wallet platform developed by the Bank of the Philippine Islands (BPI), has broadened its cash-in accessibility across the Philippines through a strategic partnership with Electronic Commerce Payments, Inc. (ECPay). The collaboration aims to provide Filipinos with more convenient access to digital financial services, leveraging ECPay’s extensive network of over 4,000 locations nationwide. Users of VYBE can now seamlessly top up their e-wallets by selecting ‘VYBE by BPI’ at any of the 1,300 ECPay kiosks available across the country, with the added benefit of zero convenience fees. Furthermore, the partnership will soon extend cash-in capabilities to over 4,000 partner…

President Ferdinand Marcos Jr. has appointed Henry Aguda as the new Secretary of the Department of Information and Communications Technology (DICT) in the Philippines, effective March 20, 2025. Aguda, a seasoned executive with a background in both the private and public sectors, takes over from Ivan John Uy. He resigned earlier in March after leading the DICT in May 2022. Aguda brings a wealth of experience to his new role. He served as President and CEO of UnionDigital Bank prior to his appointment. UnionDigital is the digital banking subsidiary of UnionBank, a major financial institution in the Philippines. He resigned from…

GCash has integrated USD Coin (USDC) into its GCrypto platform, broadening the digital asset options available to its Filipino users. This addition permits users to buy, hold, receive, and transact with USDC, a type of cryptocurrency known as a stablecoin. Circle, the payment developer, issues USDC. This digital currency aims to maintain a stable value, pegged 1:1 to the US dollar. To achieve this stability, Circle backs USDC with reserves of cash and cash equivalents, held within regulated financial institutions. Furthermore, Circle publishes monthly attestations, providing transparency regarding these reserve holdings. Users can access USDC through the GCrypto feature within…

Senang.io, a Malaysian insurtech company expanding into embedded finance, has partnered with iRemit, the largest Filipino-owned non-bank remittance provider. The partnership introduces the DreamSecure Plan, a financial product designed for overseas Filipino workers (OFWs). The DreamSecure Plan combines endowment insurance, unit trust investment, and personal accident coverage, allowing OFWs to protect their families while building their wealth. Clients can potentially receive their initial funds back with up to a 10% return in as little as five years. The product is underwritten by leading Philippine insurance and unit trust companies, ensuring security and compliance with local regulations. It is exclusively distributed…

Higala, an Inclusive Instant Payment System in the Philippines, has extended its seed funding round to USD $2.8 million. The additional funding for Higala comes from Talino Venture Studios and 1982 Ventures, both committed to supporting fintech innovation. 1982 Ventures, a Singapore-based venture capital firm focused on Southeast Asian fintech start-ups, led the extension round. Their portfolio includes companies like NextPay, Lista, and Brick. “Higala’s approach to instant payments aligns with our vision for fintech-driven change,” said Scott Krivokopich, Managing Partner at 1982 Ventures. “Winston Damarillo and Vice Catudio have a strong track record in building payments infrastructure, and we…

Island Credit Solution, Inc. has officially entered the Philippine credit landscape as the newest credit bureau, accredited by the state-owned Credit Information Corporation (CIC). The strategic partnership will revolutionise the country’s credit risk assessment system. It will do so by making credit data more accessible, reliable, and technology-driven, utilising AI-powered analytics. Island Credit Solution will offer a suite of ready-to-use analytics tools. These tools will integrate alternative data sources such as telecom usage, e-commerce activity, and digital transactions, alongside traditional financial records. The partnership will deliver deeper credit insights. Such insights will directly benefit banks, fintech lenders, and, critically, MSMEs…

Kredit Hero, an AI SME loan marketplace, has launched KreditCheck™, an innovative AI-driven financial assessment tool. This tool is designed to provide small and medium-sized enterprises (SMEs) with a deeper understanding of their financial health. KreditCheck™ AI Tool offers business owners insights similar to those used by lenders when evaluating loan applications. By providing this transparency, Kredit Hero aims to empower SMEs to proactively improve their financial standing and increase their chances of securing funding. Accessing finance remains a significant hurdle for many SMEs. Business owners often face loan rejections without fully understanding the reasons or how to improve their…

GCash is gearing up to launch its Tap-to-Pay feature in overseas markets, aiming to provide seamless transactions for Filipino travellers. This expansion, leveraging near-field communication (NFC) technology, is slated for rollout by the middle of the year, according to Oscar Reyes Jr., President and CEO of G-Xchange, the operator of GCash. The Tap-to-Pay service, which allows users to make payments by simply tapping their Android mobile phones on payment terminals, will initially be available for Android users. Reyes emphasised the focus on Android due to its prevalence among Filipinos. However, the company is actively seeking collaboration with Apple to extend…

In this exclusive interview at Money20/20 Asia, Vincent Fong, Chief Editor of Fintech News Network, sits down with Bank Negara Malaysia’s Deputy Governor Adnan Zaylani for an in-depth look into Malaysia’s fintech policy and regulatory landscape. We cover everything you need to know, including: Bank Negara’s long-term vision for fintech and digital finance How Malaysia is advancing cross-border real-time payments across ASEAN The evolution and future of Malaysia’s Fintech Sandbox The launch of the new Digital Insurer and Takaful Operator (DITO) licensing framework Progress and next milestones for Malaysia’s digital banks How Malaysia is championing value-based finance and Islamic finance…

Fintech News Network’s Vincent Fong sits down with Simon Loong, Founder and Group CEO of WeLab Group, one of Asia’s most successful fintech scale-ups. From a Hong Kong-based startup to a multi-market digital bank serving 70 million users and managing over US$15 billion in loans, Simon shares the real strategy behind WeLab Bank’s breakeven milestone, their ambitious plan to reach 500 million users by 2032, and why he believes AI agents will transform banking as we know it. We go deep into: How WeLab became the 3rd largest personal lender in Hong Kong Why most digital banks never turn a…

Philippine Senator Joel Villanueva introduced last month a new bill to establish a visa category tailored for digital nomads and remote workers from foreign countries. The proposed Digital Nomad Visa Act aims to strengthen the country’s position as a leading remote work hub and contribute to economic growth. Villanueva filed Senator Bill No. 2991, on February 24, 2025, defining digital nomads as people who travel while working remotely using digital technologies. Under the proposed bill, a new visa category would be created, granting foreign nationals a digital nomad visa and allowing them to work remotely from the Philippines for one…

Henley & Partners, a global leader in residence and citizenship by investment, has released a specialized investment migration guide for Filipinos, highlighting the most attractive destinations for wealthy individuals and startup entrepreneurs seeking additional residency or citizenship for stability, mobility, wealth preservation, or enhanced lifestyle benefits. Investment migration, which encompasses both residence and citizenship by investment, allows individuals to secure alternative residency or citizenship through financial contributions to a host country’s economy. Residence by investment refers to countries that grant residence permits to individuals who make significant capital contributions to their economy, while citizenship by investment provides investors and their…

In this in-depth discussion moderated by Vincent Fong (Fintech News Network), top leaders from KAF Digital Bank, Bank Islam, AWS, and Audax explore how Malaysia is shaping the future of Islamic digital banking — and where the gaps and opportunities lie. Malaysia’s global leadership in Islamic finance Why the future of Islamic finance lies in wealth creation, not just credit How the next chapter of Islamic finance needs a complete reimagining Speakers: • Rafiza Ghazali, CEO, KAF Digital Bank • Farilla Abdullah, Group Chief Digital Officer, Bank Islam • Taruni Ramamurthi, Head of FSI : Indonesia, Malaysia & Philippines, AWS…

The Philippines is determined to ensure that it does not face another compliance setback in the Financial Action Task Force (FATF) grey list evaluation, slated for 2027. Bangko Sentral ng Pilipinas (BSP) Governor, Eli Remolona Jr. emphasised that just because the Philippines are off the grey list does not mean that they are going to stop their efforts “We have to make sure we do not get back into the grey list,” he said. The country’s recent delisting, approved by the FATF in February, concludes a long effort that began after the 2016 Bangladesh Bank heist, which highlighted vulnerabilities in…

Netbank, a Filipino bank specialising in embedded banking, has received investment funding from several fintech investors in Southeast Asia. The funding is said to help Netbank expand its banking infrastructure and further strengthen partnerships with local fintech companies. The investment round included contributions from BEENEXT, January Capital, Oak Drive Ventures, Kaya Founders, and Boleh Capital. Singapore-based BEENEXT led the funding, with Managing Partner, Dirk van Quaquebeke noting Netbank’s potential in the market. “We are deeply impressed by the high capital efficiency and innovation index of the team at Netbank,” he said. He believes that Netbank’s approach as a wholesale led…

The Bangko Sentral ng Pilipinas (BSP) is developing new regulations to address the risks associated with artificial intelligence (AI) in the Philippine financial sector. These regulations aim to ensure the ethical and accurate use of AI by banks and non-bank financial institutions. BSP Senior Director Melchor Plabasan explained that the upcoming regulations will focus on managing biases, ensuring accuracy in AI-driven decision-making tools, and promoting ethical AI practices. “AI regulation that you can expect from the BSP is generally more clarificatory and at the same time, covering risk—the 20% of the risk that are not yet covered particularly on management…

There are only a few things in the world that are more costly than downtime. Research indicates that large organisations can lose up to USD $9,000 per minute during system outages, with high-risk industries like finance and healthcare facing potential losses of over USD $5 million per hour if the problem persists. Beyond financial repercussions, prolonged downtimes have the effect of eroding customer trust and loyalty, leading to churn and revenue loss. Worse comes to worst, dissatisfied users tend to often share their frustrations publicly, which can result in reputational damage. Not to forget the indirect costs of implementing damage…

After two decades of building AI systems—from defense projects to billion-dollar banks—Foong Chee Mun has seen it all. In this episode, the Ryt Bank Chief Product Officer joins us to cut through the AI hype and reflect on what this technology really means for society, creativity, and the future of financial services. This is not a conversation about the flashiest tools or latest models. It’s a grounded take on how AI, like any other tool, can be used for better—or worse. Highlights: What career advice can you give your kids when AI takes over all the jobs? How Much of…

Bank of the Philippine Islands (BPI) has reduced its InstaPay interbank fund transfer (IBFT) fee to PHP 10, aiming to make digital transactions more affordable. The transfer fee by BPI was previously set at PHP 25 and is now valid for the reduced amount starting from 7 March 2025 to 31 May 2025. The move aims to encourage wider adoption of digital banking by increasing fund transfer accessibility. In order to enhance customer convenience, BPI has integrated InstaPay with popular e-wallet platforms such as GCash and Maya. This has enabled instant fund transfers across various banking and financial platforms, that…

Visa and the Philippine Postal Corporation (PHLPost) have formed a partnership to broaden financial services and access, particularly for Filipinos in remote areas. This collaboration aims to modernise PHLPost’s essential services, including remittances, money orders for overseas Filipino workers (OFWs), and the distribution of crucial social welfare and disaster relief funds. Visa will contribute its global payment network and digital expertise, streamlining transactions, bolstering security, and enhancing accessibility. A key focus of this initiative, as emphasised by Visa’s Country Manager for the Philippines and Guam, Jeff Navarro, is to ease the financial burdens faced by OFWs, who play a vital…