Posts From Fintech News Philippines
GCash Surpasses PHP 2.5 Billion in Loan Disbursements Within 10 Months
Philippines’ mobile wallet GCash has disbursed more than PHP 2.5 billion in cash loans in just 10 months since the launch of GLoan. According to GCash, this reflects the significant demand for affordable and fair lending rates among Filipinos. Offering
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Which Is The Most Popular Finance App in Philippines?
In the Philippines, consumers were found to be spending much more time on digital bank Tonik than any other finance app. This is according to a new report by Data.ai, an app analytics startup formerly known as App Annie, that
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GCash Surpasses PHP 500 Billion in Gross Transaction Value
Philippines’ mobile wallet GCash announced that it had surpassed PHP 500 billion in Gross Transaction Value (GTV) in March 2022. GCash said that it has daily logins and transactions of up to 29 million and 19 million respectively. To date,
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BSP Names Bernadette Romulo-Puyat as New Deputy Governor
The Bangko Sentral ng Pilipinas (BSP) has named Bernadette Romulo-Puyat as its newest Deputy Governor (DG) who will be assuming office today. Sec. Romulo-Puyat will be the fifth DG of the BSP, joining DG Francisco Dakila Jr. of the Monetary
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8 Financial Processes Poised for Digital Transformation
COVID-19 accelerated trends toward remote banking and digitalisation, forcing financial institutions to embrace new technologies and processes to keep their businesses functional despite social distancing restrictions. Now, with more and more people relying on digital solutions for interactions and transactions,
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PDS Group Launches Blockchain-Based Digital Bond With STACS as Its Tech Partner
The Philippine Dealing System Holdings Corp. (PDS Group) announced the launch of a fully digitally native bond, issued on a distributed ledger technology (DLT) network powered by Hashstacs (STACS), a Singapore-headquartered fintech firm. The digital bond was issued by the
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UnionBank Enhances Its Supply Chain Financing Solution for MSMEs
The Union Bank of the Philippines has digitally transformed and strengthened its Supply Chain Finance (SCF) solution platform to mitigate the losses endured by micro, small and medium enterprises (MSMEs). The solution also aims to simplify operations and financial management
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New Challengers Pressure Incumbents to Improve Customer Experiences
In the Philippines, the market entry of new, digital-first challenger banks is shaking up the banking industry, forcing incumbents to put an emphasis on improving customer experiences to not only win new customers, but also retain existing ones. During the
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New Report Outlines Emerging Fraud Trends in 2022
The widespread shift to online channels during COVID-19 has seen scams and fraudulent activities surge. A new study by Onfido, a provider of identity verification solutions, highlights an increase of 44% in identity fraud since 2019 as a result of
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BSP Says EGov Pay’s Transactions Showed 467% Growth Since 2021
The use of EGov Pay, a system that enables digital payment for government services, jumped by 467 percent to over 91,000 transactions at end of 2021 from around 16,000 transactions a year earlier, according to the Bangko Sentral ng Pilipinas
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