A public alert from the Philippines SEC recently urged individuals and businesses to exercise caution with their financial accounts. This advisory specifically highlights the risks associated with “money muling” and advance fee loan scams. Individuals or entities use personal bank accounts, e-wallets, or other online financial platforms for money muling. Examples include services such as GCash or Maya. Criminal organisations often exploit these accounts to process funds derived from illicit activities, effectively laundering money obtained through various scams. This can include proceeds from advance fee loan scams, Ponzi schemes, illegal investment schemes, and other forms of financial fraud. Those found…

The Public Safety Savings and Loan Association, Inc. (PSSLAI) has entered into a partnership with technology provider Traxion Tech. PSSLAI and Traxion Tech formalised the collaboration by signing a Memorandum of Agreement on May 7, 2025. It aims to relaunch PSSLAI’s digital platform, PSSLAI Bilis Online. The new platform will function as a mobile banking application incorporating an electronic wallet solution. PSSLAI aims to provide its members with enhanced access to financial services through this development. These members notably include individuals from the Philippine National Police and the Bureau of Fire Protection. The updated ‘PSSLAI Bilis Online’ application provides members…

Digido Finance Corp. has issued a response following the SEC decision to revoke its financing licence and primary registration. The company, which operates online lending platforms such as UnaPay and UnaCash, stated: “Digido Finance Corp. categorically denies having opened or operated four (4) branches without obtaining the necessary certificate of authority”. In its statement, Digido contends that the SEC’s order, dated May 9, 2025, was based on the setup of four exhibit booths back in 2021. Digido asserts that it “factually established to the Commission that [the company] only set up exhibit booths for marketing purposes”. Digido stated that they…

In other news, the Securities and Exchange Commission (SEC) in the Philippines has also revoked the corporate registration of Cyfle OPC. The commission stated this action was taken because the company solicited investments from the public without holding the necessary authorisation. In an order dated May 16, the SEC’s Enforcement and Investor Protection Department (EIPD) cancelled Cyfle’s registration. The SEC found that Cyfle OPC violated the Revised Corporation Code by operating beyond the powers granted in its articles of incorporation (AOI). Although its primary purpose, stated during its 2022 incorporation, was management consultancy, the investigation revealed Cyfle was offering investments.…

It is believed that the Philippines’ Securities and Exchange Commission (SEC) has sanctioned enforcement action against two lending firms. These companies are Hupan Lending Technology Inc. and Hi-Fin Lending Inc. They faced these actions due to violations of regulations. Notably, these include breaches of the Financial Products and Services Consumer Protection Act (FCPA). Hupan Lending Technology Inc. operates under several names. These include Cashme, Sukiloan, Pesopoly, and LoanTayo. The company received a Cease and Desist Order (CDO). This order was issued because Hupan was operating an unrecorded Online Lending Application (OLA) named “Magic Peso”. Prompted by customer complaints, the SEC’s…

The Securities and Exchange Commission (SEC) has officially revoked the financing license and primary registration of Digido Finance Corp., operator of online lending platforms UnaPay and UnaCash, after the company was found to have opened and operated four branches without the necessary regulatory approval. In an order dated May 9, the SEC’s Financing and Lending Companies Division (FinLenD) ruled that Digido Finance Corp. violated Section 6(A) of the Implementing Rules and Regulations of Republic Act No. 8556, also known as the Financing Company Act of 1998. The law explicitly prohibits any financing company from establishing or operating a branch, agency,…

Billease recently mandated Security Bank Capital Investment Corporation to arrange a corporate notes facility of up to PHP 5 billion. Security Bank Corporation, the parent company, is participating in the financing with PHP 1.5 billion. This facility aims to support Billease’s expansion and its objective of delivering accessible financial services in the Philippines. The funding aims to help Billease develop digital lending solutions for Filipinos who are underserved by traditional banking. This initiative contributes to the country’s financial inclusion goals. Georg Steiger, CEO and Co-Founder of Billease, stated this partnership “represents a major step forward for Billease as we work…

The Philippine Stock Exchange, Inc (PSE) is adopting the Eqlipse Trading platform by Nasdaq to upgrade its trading infrastructure, a move that expands the existing technology partnership between the two organisations. They aim to improve the liquidity and resilience of the Philippine marketplace. Nasdaq mentioned that the Eqlipse Trading platform can help organisations to modernise, standardise, and reinforce their platform capabilities and application architecture. The system is modular, allowing market operators to integrate various functions such as pre-trade risk management, advanced options pricing, and index calculations. It also offers a flexible deployment model. PSE President and CEO Ramon S. Monzon…

EastWest Banking Corporation has chosen Temenos to help modernise its core banking systems. This strategic move supports EastWest’s aim to improve customer experience and advance digital transformation. It also allows them to offer financial solutions more efficiently and at scale. EastWest plans to use banking technology to deliver a consistent and secure banking experience by implementing Temenos Core SaaS solution for its Retail, SME, and Corporate divisions. This modernisation effort seeks to establish a more adaptable and robust banking infrastructure, enabling the bank to better serve its more than 3 million customers across 400 branches nationwide. Barani Sundaram, Chief Technology…

The Securities and Exchange Commission (SEC) has withdrawn and revoked the corporate registration and financing licence of People’s Credit and Finance Corporation (PCFC). The company’s consistent failure to submit required reports and comply with various regulations led to this decision. In an order issued on 14 May, the SEC’s Financing and Lending Companies Department (FinLend) identified that PCFC had not submitted 15 different reportorial requirements. Republic Act No. 11232, also known as the Revised Corporation Code, mandates these requirements. Republic Act No. 8556, or the Financing Company Act, also mandates them. Additionally, their Implementing Rules and Regulations, and several SEC…

UnionBank has introduced an updated personal loan product designed to offer quick access to funds. This enhanced offering aims to provide approved applicants with funds in as little as five minutes, which the bank states is a rapid turnaround time among traditional banks. UnionBank designed the digital application process for this loan. It supports various financial needs, such as home improvements, educational pursuits, or family support. The bank also structured the Personal Loan for customers who prioritise efficiency and ease of use. Its fully digital processing system facilitates immediate cash disbursement upon approval, removing the need for extensive waiting periods…

What started as a RM6,000 loan funded out of their own pockets has grown into over RM4 billion disbursed to more than 2,000 SMEs. Xing Xian shares the raw, behind-the-scenes story. From an impromptu pitch that caught Bank Negara Malaysia’s attention, to the early struggles, hard lessons, and the real mission behind CapBay. The accidental pitch that led to CapBay being founded How the founders used their own savings to fund their first borrower Why leaving their destiny at the hands of the banks nearly killed their momentum CapBay’s role in funding digital-first businesses across Southeast Asia

The Bangko Sentral ng Pilipinas (BSP) has announced a temporary halt in the operations of its Coin Deposit Machines (CoDMs) located in various malls across the Greater Manila Area, effective 17 June 2025. As of now, the public will be able to utilise these machines up until 16 June 2025. This operational pause, as stated by the BSP, is to facilitate a thorough review of the system. The primary objectives are to improve the recirculation of idle coins within the economy. They also aim to better cater to the coin exchange requirements of the Filipino public. Since their launch in…

Coins.ph is currently applying blockchain technology and stablecoin solutions to the Philippines’ remittance market. With international remittances forming a significant part of the Philippine economy, reportedly totalling USD $38 billion in 2024, Coins.ph is presenting its services as an option for businesses seeking cross-border payment methods. Traditional remittance channels often present challenges. These include transaction costs that average 6% to 7%, processing times of two to five business days, limited operating hours, and potential hidden charges through exchange rates. Wei Zhou, CEO of Coins.ph, stated, “Traditional remittance methods present challenges with cost, speed, and accessibility. Coins.ph leverages blockchain technology and…

Tech-enabled logistics firm Ninja Van Philippines and Security Bank have announced a strategic partnership. Both of the companies aim to foster the growth of micro, small, and medium enterprises (MSMEs) through a reciprocal referral programme. The collaboration will see Ninja Van direct high-potential shippers to Security Bank for various business banking solutions. Security Bank, on the other hand, will guide its MSME clients toward Ninja Van’s comprehensive logistics services. Under this initiative, Ninja Van shippers referred to Security Bank will gain access to crucial financing options. These include the Business Express Loan for operational funding, the Business Mortgage Loan for…

Billease and Maya Business have entered into a partnership that will see Billease’s ‘Buy Now, Pay Later’ (BNPL) service integrated into Maya’s payment gateway and point-of-sale (POS) terminals. A key aspect of this partnership is its utilisation of QRPh, the Philippines’ national QR code standard. This enables any customer with a QRPh-activated banking or e-wallet application to scan a code, make a payment, and then divide the cost of their purchase into instalments through Billease. The BNPL feature will be accessible across thousands of online and physical stores that use Maya Business for their payment processing. Kurt Molina, Head of…

Surely.Digital has collaborated with PhilInsure to introduce the TravelSmart Marketplace. The digital platform offers travellers in the Philippines straightforward access to reliable, visa-compliant travel insurance. Malayan Insurance, a non-life insurer in the Philippines, supports the initiative with its underwriting expertise. Leveraging Malayan Insurance’s experience, TravelSmart provides a comprehensive selection of affordable travel insurance plans. These are particularly suitable for individuals applying for Schengen and other international visas. The core mission behind TravelSmart is to facilitate smarter and safer travel through a seamless, technology-driven experience. The platform enables individuals in the Philippines, Overseas Filipino Workers (OFWs), and families to safeguard their health…

Fintech Alliance.PH recently revealed several announcements as it is actively trying to mould the future of digital finance in the Philippines. The organisation first announced that it is preparing for the Manila Tech Summit in August 2025. The event, focused on “Forging a New Global Order: Risks and Opportunities Redefined,” will bring together international minds to discuss the evolving technological landscape. Announced by Founding Chairman Lito Villanueva, the summit has already garnered international backing from several countries. The United States and the United Kingdom are two countries that are said to be joining. Recent international collaborations provide a foundation for such…

PayNet’s Fintech Hub is more than just an accelerator, it’s a platform built to help Malaysia’s fintech startups scale without giving up equity. In this video, we sit down with PayNet’s CMO, Gary Yeoh, to talk about why this initiative could be a game-changer for founders looking to build the next fintech giant in Malaysia. From mentorship and funding credits to exclusive global networks and many more benefits. Watch till the end to learn how you can join the movement.

To simplify National ID verification and broaden financial inclusion across the Philippines, the Philippine Statistics Authority (PSA) and mobile wallet provider GCash have formed a partnership. The collaboration aims to make National ID registration and access to fintech services more seamless and accessible, particularly within underserved communities. Through a co-location agreement, individuals can now conveniently register for their National ID and open a fully verified GCash account simultaneously at any PhilSys-On-Wheels location. This creates a convenient “one-stop shop” experience, streamlining the process and addressing significant barriers to participation in the digital financial ecosystem, such as identity verification challenges. This streamlined…