Posts From Fintech News Philippines
Neobank Zed Unveils “No-Fee” Credit Card in the Philippines
Zed, a credit-led neobank, has introduced what is described as the country’s first credit card that will do away with several common charges. This card uniquely features no foreign transaction fees, interest, or annual charges — it is being billed
Read More
“Big Bang” Bank Upgrades Spell Trouble, Mambu Makes Case for Incremental Change
Core banking systems serve as the backbone of financial operations and customer interactions for banks worldwide. They facilitate critical transactions like loan management, withdrawals, and deposits in real-time. However, maintaining such a system comes at a hefty cost. Financial institutions
Read More
Saripay Provided Credit Access to 70,000 Stores in 1st Year of Operations
Saripay, the financial wing of Growsari Enterprises, has commemorated its first year since launching in 2023, a period during which it has extended its support to micro, small, and medium enterprises (MSMEs) through a combination of financial assistance and digital
Read More
eTap to Broaden Payment Network, Plans to Deploy 2,000 Additional Kiosks
Electronic Transfer & Advance Processing, Inc. (eTap), a principal operator of payment kiosks, has disclosed intentions to significantly extend its network across the country by adding 2,000 new kiosks to its existing tally of 3,500 by the end of this
Read More
Metropolitan Bank Taps Temenos to Innovate its Wealth Management Services
Metropolitan Bank & Trust Co. (Metrobank), one of the Philippines’ major banks, has initiated a partnership with Temenos and Collaboration Betters the World (CBTW) to integrate Temenos Wealth into its services. This move aims to enhance Metrobank’s existing wealth management
Read More
6 Banks Revealed in Project Agila CBDC Pilot Concluding by End-2024
In a recent press briefing, Deputy Governor Mamerto Tangonan disclosed that the Bangko Sentral ng Pilipinas (BSP) is poised to complete the trial phase of Project Agila, a wholesale Central Bank Digital Currency (CBDC) initiative, by the end of 2024.
Read More
BSP Studying the Role of Generative AI in Banking and Financial Services
Commenting on the integration of technology within the financial sector, the Bangko Sentral ng Pilipinas (BSP) has revealed its ongoing investigations into the implications and necessary safeguards for the use of generative artificial intelligence (AI) in banking. Under the guidance
Read More
Only Two of Six Philippine Digital Banks Are Profitable, Says BSP
Recent insights from the Bangko Sentral ng Pilipinas (BSP) have cast light on the challenging environment facing the Philippines’ digital banking sector. According to Melchor Plabasan, Director at the BSP, among the six digital banks operational within the nation, only
Read More
SEC and NTC Take Action Against OctaFX, MiTrade for Offering Unregistered Securities
In a decisive move to shield investors, the National Telecommunications Commission (NTC) has enacted a directive, prompted by the Securities and Exchange Commission (SEC), to immediately restrict access to OctaFX’s website and applications. This action is in response to identified breaches
Read More
HSBC Philippines Unveils Multi-Channel Payment Processing for E-commerce
HSBC Philippines has unveiled a new application programming interface (API)-based e-commerce payment solution known as Omni Collect. This platform aims to simplify how businesses manage payments across various channels, facilitating the integration of both online and offline payment methods for
Read More