For a digital financial service provider, scalability and reliability are non-negotiable. The fintech industry thrives on seamless transactions, and any disruption can lead to lost revenue, customer dissatisfaction, and reputational damage. GCash, the Philippines’ #1 Finance Super App, has experienced exponential growth in recent years. Today, 8 out of 10 Filipinos have used GCash, and the platform now supports over 6 million merchants and social sellers. This rapid expansion placed immense pressure on its infrastructure, exposing limitations in its legacy database system. John Vincent Biscocho, Head of Infrastructure Management and Strategy at GCash, explained the gravity of the challenge. “Growth…

Rizal Commercial Banking Corporation (RCBC) has announced the appointment of Reginaldo “Reggie” Cariaso as its new President and Chief Executive Officer, effective July 1, 2025. Reggie succeeds Eugene S. Acevedo, who is retiring but will remain a member of the bank’s Board of Directors. Acevedo guided the bank through a period of growth and digital innovation. Reggie brings nearly three decades of experience from both global and local financial institutions, with expertise in institutional banking, capital markets, and strategic execution. Before joining RCBC, he held senior leadership roles at Bank of the Philippine Islands and JP Morgan Hong Kong, having…

Tyme Group has been included in TIME’s 2025 list of the 100 Most Influential Companies in the World. The recognition highlights organisations demonstrating significant global impact through innovation and scale. Tyme Group joins a list of past honourees. This acknowledges its emergence in retail banking, focusing on serving broader populations rather than exclusively the affluent or urban elite. Coen Jonker, CEO and Co-Founder of Tyme Group, expressed gratitude for the recognition. He stated, “At Tyme, we believe that great retail banking should be available to everyone not just a privileged few. Our ambition is to become one of the top…

Finance Secretary Ralph G. Recto and newly appointed Securities and Exchange Commission (SEC) Chairperson Francis Lim will fast-track key reforms aimed at improving the ease of doing business and deepening the Philippine capital market. This aligns with President Ferdinand R. Marcos, Jr.’s directive to enhance market competitiveness and facilitate investment entry. Among the SEC’s top priorities is the efficient implementation of the Capital Markets Efficiency Promotion Act (CMEPA), designed to broaden investor participation. The reforms to be made by the SEC will also tighten oversight of crypto asset service providers (CASPs) to protect consumers and ensure regulatory compliance. Committed to…

The Philippines Securities and Exchange Commission (SEC) has issued a cease and desist order (CDO) against Convenience Cash Lending Corporation. The company, operating under the names Zada Cash and Bloom Cash, has been ordered to immediately halt its unregistered lending activities. This includes all declared online lending platforms (OLP) associated with Zada Cash and Bloom Cash. The SEC Financing and Lending Companies Department issued the order, dated May 27. This action follows Convenience Cash Lending Corporation’s failure to comply with a previous SEC directive from July 6, 2023. That earlier order required all OLP operators to register with the Credit Information…

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…