BDO Unibank has described as “baseless” the claims from content creator Jana Berenguer of a system compromise and insider involvement in a series of alleged unauthorised transactions on her account. The case gained public attention after Jana posted videos on social media about the incident. In a statement, BDO said its investigation found no evidence of a system breach or insider activity. The bank’s findings show that on September 14, a password reset and a new device registration occurred on Jana’s account. The system validated both actions using a one-time password (OTP) sent to her registered mobile number. The bank…

The Bangko Sentral ng Pilipinas (BSP) has mandated a PHP 500,000 daily limit on over-the-counter cash withdrawals and other payouts from banks and non-bank financial institutions. The move is part of the central bank’s efforts to reduce the risks of money laundering and terrorism financing linked to large-value cash transactions. Under Circular No. 1218, which the Monetary Board approved on September 18, 2025, customers must now conduct any transactions exceeding the threshold through non-cash methods. These include payments via cheque, fund transfers, direct credit to deposit accounts, or other digital channels that create a clear audit trail. The cap applies…

The Fintech Alliance.PH has officially terminated the membership of the online lending firm Digido Finance Corporation (“Digido”), effective immediately. The decision followed an internal review which, according to the Alliance, confirmed several serious violations of its Code of Ethics. The specific violations cited by the industry association include deceptive and anti-competitive practices, a failure to protect consumer data, and financial instability. The expulsion comes shortly after a regulatory action by the Securities and Exchange Commission (SEC). On 9 May 2025, the SEC issued an order revoking Digido’s Certificate of Incorporation and its Certificate of Authority to operate as a financing…

Billease has expanded its platform to include an Everyday Spend Credit feature. The company is allowing customers to use their credit line for daily purchases via QRPh and NFC tap-and-pay transactions. The update provides users with two flexible repayment options for their spending. The first option is a Pay Later function. It allows customers to settle their purchases by their next payday. The function also includes zero interest and zero fees. The second option allows users to convert any purchase into manageable monthly instalments at any time before their due date. Billease states that it charges interest only on the…

Stablecoins are quickly evolving from crypto-native assets to credible instruments for mainstream finance. In 2024 alone, stablecoin transaction volumes hit 27.6 trillion, surpassing the combined volume of Visa and Mastercard, according to the World Economic Forum. Signaling significant real-world interest from major players. But are stablecoins here to change finance forever? Join us to find out first-hand this and more at our webinar: What’s behind the rise of stablecoins? What are the potential success factors leading towards its adoption? How stablecoins are being used to make payment rails faster, cheaper, and programmable What banks and fintechs need to consider before…

Atome and Maya Bank have entered a ₱2.75 billion (US$48 million) loan channeling agreement aimed at widening access to credit in the Philippines. Christian Quiros, President and Country General Manager of Atome Philippines, said: “Together, we are expanding access to responsible, risk-managed, and transparent flexible payment options that make more products and services truly ‘Available-To-Me’ for millions of Filipinos. Since day one, Atome’s mission has been to improve lives through greater financial access and technology, and this partnership with Maya Bank is a significant step forward in that journey in the Philippines.” Under the partnership, Maya Bank will facilitate the…

Salmon, a credit-led fintech company based in the Philippines, has completed an additional US$50 million Nordic bond issuance. The round, which was significantly oversubscribed, increases the firm’s total Nordic bond financing to US$110 million. The funding follows Salmon’s inaugural US$60 million issuance in April 2025. Proceeds will be used to support the company’s plans to expand, develop new products, and strengthen its financial position. “This transaction is a strong endorsement of our business model and the market’s confidence in our strategy,” said Pavel Fedorov, Co-Founder of Salmon. “We are opening a new chapter for the Philippine financial services industry, supported…

Home Credit Philippines has reached a new milestone ahead of its 12th anniversary, reporting that it has served 12 million customers with financial services as of August 2025. The company, which entered the Philippine market in 2013, provides consumer finance through instalment plans, cash loans, and digital solutions. It said the achievement reflects its commitment to making credit more accessible for everyday needs. “Reaching 12 million customers is more than just a number—it’s a reflection of the trust Filipinos have placed in us,” said David Minol, Chief Executive Officer of Home Credit Philippines. “We’ve seen a significant increase in new…

The Bangko Sentral ng Pilipinas (BSP) is invoking a new law to investigate individuals implicated in the country’s flood-control corruption scandal. The central bank has opened an inquiry into the bank accounts of those under scrutiny through the Anti-Financial Account Scamming Act (Republic Act 12010) or AFASA, along with its implementing rules which came into force in June this year. The investigation centres on money muling, which the law criminalises. Under Section 4(a) of AFASA, the use of a financial account to obtain, receive, deposit, transfer or withdraw proceeds known to be derived from criminal activity is considered money muling.…

The Securities and Exchange Commission (SEC) and the Department of Finance (DOF) have signed a data sharing agreement (DSA) concerning beneficial ownership information. The agreement, signed on September 3, aims to support the Philippine Extractive Industries Transparency Initiative (PH-EITI). The initiative’s mandate is to promote open and accountable governance in the extractive sector. The PH-EITI, which operates under the DOF, is the country’s implementing body for the global Extractive Industries Transparency Initiative (EITI). All corporations holding an extractive licence or contract are subject to a core EITI requirement. They must provide full disclosure of their beneficial ownership information. The new…

The Bangko Sentral ng Pilipinas (BSP) has authorised the corporate name change for the Rural Bank of Sta. Rosa (Laguna) Inc. The Rural Bank of Sta. Rosa will now operate under the name Salmon Bank (Rural Bank). According to BSP Circular Letter CL No. 2025-039, which was made public on September 12, the central bank authorised the name change on February 21, 2025. The Securities and Exchange Commission (SEC) subsequently approved the bank’s amended articles of incorporation and bylaws on August 5, 2025. Salmon Bank is owned by the technology company Salmon Group Limited, which also runs the financing firm…

The Philippine Deposit Insurance Corporation (PDIC) has issued a public warning regarding the use of fake official receipts. Scammers are reportedly using these fraudulent receipts for payments related to transactions with closed banks under its liquidation. According to the state deposit insurer, the fraudulent receipts have several distinguishing features. These include the use of the old PDIC logo, the presence of misspellings, and falsified signatures of PDIC personnel. Additionally, the fraudulent receipts show a general inconsistency with the standard format of authentic, agency-issued receipts. According to the PDIC, its official logo was updated on 22 June 2018. As a result,…

The Securities and Exchange Commission (SEC) has released new guidelines to provide clarity for companies. The rules concern transactions that are exempt from securities registration requirements as defined by the Securities Regulation Code (SRC). On September 9, the SEC issued Memorandum Circular (MC) No. 11, series of 2025, to establish the new rules. Through this circular, the Commission intends to provide clearer guidance to companies and potential capital market players. SEC Chairperson Francis Lim said the new guidelines aim to remove bottlenecks that may cause confusion and contribute to delays in the public offering of securities. He added that the…

Online trading platforms like HFM are transforming as improving technology continues to redefine the means by which investors access and interact with financial markets. From artificial intelligence to decentralized finance protocols, the future of online trading platforms promises to democratize investing, refine user experience, and make markets more efficient. Artificial Intelligence and Machine Learning Integration The trading platforms of today are using sophisticated AI algorithms more and more to assist both novice and expert traders. Machine learning programs examine humongous sets of data to find trends in the market, predict price movements, and provide personalized investment advice. These intelligent systems…

Several lawmakers in the Philippines have filed bills proposing the creation of a National Budget Blockchain System to make government spending records immutable and publicly accessible. The move has received strong backing from the country’s association of digital and financial technology companies, the FinTech Alliance.PH. On September 9, 2025, Representative Brian Poe Llamanzares filed House Bill 4489. The bill mandates that the government record all national budget allocations and expenditures on a blockchain platform. The FinTech Alliance.PH has expressed its support for the measure, stating that the technology will significantly improve transparency and accountability. “This is a bold step towards…

Singlife Philippines has launched two new features in its mobile application, aiming to offer customers more affordable and convenient ways to settle their insurance premiums. The updates include an annual payment option and in-app payments via QRPH. The new annual payment feature allows customers to make a single, one-time payment to cover a full year of insurance. According to the company, this provides a significant saving for customers. They can reduce their total premium cost by up to 17% compared to making recurring monthly payments. This option is available for several of the company’s products. This includes its 100-in-1 Protection…

From Binance’s first CFO to buying over Coins.PH for double the price from Gojek, this episode’s guest is nothing short of interesting. After building one of the leading licensed crypto exchanges in the Philippines, he’s now got his eyes set on global ambitions but does the Philippines and by extension Southeast Asia have what it takes to build the next crypto powerhouse?

Corporations with foreign equity can now register their businesses in the Philippines in a single day, following an expansion of a service by the Securities and Exchange Commission (SEC). The SEC has updated its One Day Submission and Electronic Registration of Companies (OneSEC) facility to include foreign-owned corporations in a move designed to streamline the registration process. SEC Chairperson Francis Lim stated that the change is a key part of the commission’s efforts to improve the ease of doing business in the country. “By expanding the coverage of OneSEC to foreign entities, we want to send a strong signal to…

Leaders from government and the private sector, including the mobile wallet GCash, gathered at the 2025 Manila Tech Summit to discuss advancements in digital transformation. The summit, themed “Forging a New Global Order: Risks and Opportunities Redefined,” explored how technology can create more digitally inclusive societies. In his keynote address, President Ferdinand Marcos Jr. reported that the country’s digital sector grew to PHP 2.25 trillion last year, generating 11.3 million jobs. He stated that while this is a positive development, “there is much room for growth”, and confirmed that the government is building more internet infrastructure and free WiFi sites…

Fintech is scaling at a pace once unimaginable, bringing millions into the digital economy and redefining how financial services operate. But every leap forward is shadowed by an equally fast-moving wave of fraud. Bad actors are evolving in real time, probing onboarding and transaction flows for exploitable gaps. The rise of GenAI has accelerated this arms race. Fraudsters now wield AI to supercharge attack vectors, from synthetic identity fraud and deepfakes to fabricated receipts and hyper-realistic documents, making scams more convincing, scalable and more challenging to detect than ever before. The Ongoing Dilemma of Synthetic Identity Fraud Synthetic identity fraud…