Banks in the Philippines exhibit relatively low exposure to credit risks arising from recent US tariff increases, according to Moody’s Ratings. The credit assessment agency stated in a report dated April 7 that the impact of these tariffs on Philippine banks is “low” within the Asia-Pacific (APAC) region. This limited impact is attributed to the Philippines’ moderate trade engagement with the United States and its reasonably diverse economy. Moody’s identified the Philippines as having the lowest additional US tariff. The country is on the list with Australia, New Zealand, Hong Kong, Singapore, and Mongolia. Consequently, banks in these economies are…

Security Bank today announced a partnership with identity security company Entrust. This collaboration focuses on enhancing the bank’s electronic Know Your Customer (eKYC) process, aiming to provide a more seamless and secure digital onboarding experience for customers via its new mobile app. According to the bank, the initiative supports its goals for providing secure, customer-focused banking services. The bank is implementing this change during a period of anticipated high growth in the Philippine digital banking sector. As part of changes to its digital onboarding, Security Bank is integrating the Entrust Onfido Studio platform. Such technology provides robust identity verification with…

Philippine rural bank Netbank Inc. and fintech lending application JuanHand have announced a strategic partnership today. The partnership aims to extend financial services, particularly business loans, to unbanked and underserved communities across the nation. This collaboration between the two fintech firms seeks to empower Filipinos. They want to provide innovative lending solutions tailored to their specific personal and business financing needs. Leveraging Netbank’s capabilities in embedded finance is key to the initiative. “Through embedded finance, we’re enabling JuanHand to better serve more underserved Filipinos,” stated Amiel de Sotto, Head of Lenders at Netbank. He elaborated that Netbank aims to “empower…

The Securities and Exchange Commission (SEC) of the Philippines has transitioned to a fully online and paperless company registration process, eliminating the need for applicants to submit hard copies of physically signed or notarised documents. This significant shift is mandated by SEC Memorandum Circular No. 3, Series of 2024, issued on April 4, 2025. The new process requires the mandatory use of the SEC Zuper Easy Registration Online (SEC ZERO) application. It is accessible through the existing Electronic Simplified Processing of Application for Registration of Company (eSPARC) portal. SEC ZERO replaces physical signatures and notarisation with electronic authentication. It integrates…

Global digital financial solutions provider additiv has expanded its presence in the Asia Pacific region by opening a new office in Manila, Philippines. The move aims to support the digital transformation efforts of financial institutions within the country’s digital finance sector. The Philippines is currently experiencing significant economic growth and a surge in digital financial service adoption. It is mainly driven by high mobile usage and a growing demand for wealth management solutions. Hence, seems additiv’s expansion is quite timely. The new office, situated in the financial hub of Makati, will enable closer collaboration with local financial institutions. The location…

The Bureau of the Treasury (BTr) anticipates launching government securities through the “GBonds” feature on the GCash mobile wallet between January and June of this year. The Philippines’ Deputy Treasurer at the Bureau of the Treasury, Department of Finance, Sharon P. Almanza announced that GCash is currently testing the GBonds feature, which will utilise the Philippine Digital Asset Exchange, Inc. (PDAX) for bond trading. “Hopefully, we can launch it (GBonds) in the first half of this year. GCash is still testing,” she said. Initially slated for a December launch, the GBonds initiative aims to enhance financial inclusion among Filipinos. It…

Maya and Pepsi-Cola Products Philippines, Inc. (PCPPI) are launching a digital initiative to modernise financial management for PCPPI’s network of over 200,000 distributors and retailers. The initiative also includes all of PCPPI’s existing sari-sari stores. The move will enable faster collections through Maya’s cashless payment system, which provides real-time transaction reconciliation. It aims to reduce risks tied to cash handling, such as theft, delays in collection, and reporting inaccuracies. Maya’s solutions will be integrated into PCPPI’s Distributor Management System (DMS), creating a financial infrastructure supporting collections and inventory financing. Additionally, Maya will also offer working capital loans. This is to…

Conglomerate Ayala Corp. and Mitsubishi Corp. have entered into an investment agreement, with the Japanese multinational acquiring a 6.5% stake in e-wallet giant GCash. In a stock exchange filing, Ayala announced the agreement, stating that Mitsubishi would subscribe to 18.03 million common and redeemable preferred shares of AC Ventures Holding Corp. (ACV) for at least ₱18.4 billion, The Philippine Star reported. Following the transaction, Ayala and Mitsubishi will each hold a 50% ownership stake in ACV, which currently has a 13% stake in Globe Fintech Innovations Inc. (Mynt), the parent company of GCash. The investment remains subject to conditions, including…

MoneyHero Limited announced a partnership with the Bank of the Philippine Islands (BPI). The collaboration aims to expand the credit card comparison services offered by MoneyHero, an offering that can simplify the application process for Filipinos. The partnership aims to strengthen MoneyHero’s position in the region. BPI’s integration will help to broaden the credit card options available within services offered by MoneyHero to all of their existing Philippine consumers. Currently, MoneyHero allows Filipinos to compare more than 20 credit card options offered by leading banks, alongside a variety of other financial products, including insurance and loans available in the Philippines.…

Lucio Tan’s Philippine National Bank (PNB) is anticipated to name former Union Bank of the Philippines Chief Edwin Bautista, as its new President following a special board meeting today. Sources have informed that PNB’s board of directors will convene today to approve Bautista’s appointment. The leadership of the listed bank will transition from Florido Casuela to Edwin Bautista. This follows Casuela’s assumption of the role in 2022. It was after Jose Arnulfo “Wick” Veloso’s appointment to the Government Service Insurance System. Bautista’s career at UnionBank spanned 27 years. His tenure instrumentally evolved the bank into a prominent digitalised and retail…

VYBE, the e-wallet platform developed by the Bank of the Philippine Islands (BPI), has broadened its cash-in accessibility across the Philippines through a strategic partnership with Electronic Commerce Payments, Inc. (ECPay). The collaboration aims to provide Filipinos with more convenient access to digital financial services, leveraging ECPay’s extensive network of over 4,000 locations nationwide. Users of VYBE can now seamlessly top up their e-wallets by selecting ‘VYBE by BPI’ at any of the 1,300 ECPay kiosks available across the country, with the added benefit of zero convenience fees. Furthermore, the partnership will soon extend cash-in capabilities to over 4,000 partner…

President Ferdinand Marcos Jr. has appointed Henry Aguda as the new Secretary of the Department of Information and Communications Technology (DICT) in the Philippines, effective March 20, 2025. Aguda, a seasoned executive with a background in both the private and public sectors, takes over from Ivan John Uy. He resigned earlier in March after leading the DICT in May 2022. Aguda brings a wealth of experience to his new role. He served as President and CEO of UnionDigital Bank prior to his appointment. UnionDigital is the digital banking subsidiary of UnionBank, a major financial institution in the Philippines. He resigned from…

GCash has integrated USD Coin (USDC) into its GCrypto platform, broadening the digital asset options available to its Filipino users. This addition permits users to buy, hold, receive, and transact with USDC, a type of cryptocurrency known as a stablecoin. Circle, the payment developer, issues USDC. This digital currency aims to maintain a stable value, pegged 1:1 to the US dollar. To achieve this stability, Circle backs USDC with reserves of cash and cash equivalents, held within regulated financial institutions. Furthermore, Circle publishes monthly attestations, providing transparency regarding these reserve holdings. Users can access USDC through the GCrypto feature within…

Senang.io, a Malaysian insurtech company expanding into embedded finance, has partnered with iRemit, the largest Filipino-owned non-bank remittance provider. The partnership introduces the DreamSecure Plan, a financial product designed for overseas Filipino workers (OFWs). The DreamSecure Plan combines endowment insurance, unit trust investment, and personal accident coverage, allowing OFWs to protect their families while building their wealth. Clients can potentially receive their initial funds back with up to a 10% return in as little as five years. The product is underwritten by leading Philippine insurance and unit trust companies, ensuring security and compliance with local regulations. It is exclusively distributed…

Higala, an Inclusive Instant Payment System in the Philippines, has extended its seed funding round to USD $2.8 million. The additional funding for Higala comes from Talino Venture Studios and 1982 Ventures, both committed to supporting fintech innovation. 1982 Ventures, a Singapore-based venture capital firm focused on Southeast Asian fintech start-ups, led the extension round. Their portfolio includes companies like NextPay, Lista, and Brick. “Higala’s approach to instant payments aligns with our vision for fintech-driven change,” said Scott Krivokopich, Managing Partner at 1982 Ventures. “Winston Damarillo and Vice Catudio have a strong track record in building payments infrastructure, and we…

Island Credit Solution, Inc. has officially entered the Philippine credit landscape as the newest credit bureau, accredited by the state-owned Credit Information Corporation (CIC). The strategic partnership will revolutionise the country’s credit risk assessment system. It will do so by making credit data more accessible, reliable, and technology-driven, utilising AI-powered analytics. Island Credit Solution will offer a suite of ready-to-use analytics tools. These tools will integrate alternative data sources such as telecom usage, e-commerce activity, and digital transactions, alongside traditional financial records. The partnership will deliver deeper credit insights. Such insights will directly benefit banks, fintech lenders, and, critically, MSMEs…

Kredit Hero, an AI SME loan marketplace, has launched KreditCheck™, an innovative AI-driven financial assessment tool. This tool is designed to provide small and medium-sized enterprises (SMEs) with a deeper understanding of their financial health. KreditCheck™ AI Tool offers business owners insights similar to those used by lenders when evaluating loan applications. By providing this transparency, Kredit Hero aims to empower SMEs to proactively improve their financial standing and increase their chances of securing funding. Accessing finance remains a significant hurdle for many SMEs. Business owners often face loan rejections without fully understanding the reasons or how to improve their…

GCash is gearing up to launch its Tap-to-Pay feature in overseas markets, aiming to provide seamless transactions for Filipino travellers. This expansion, leveraging near-field communication (NFC) technology, is slated for rollout by the middle of the year, according to Oscar Reyes Jr., President and CEO of G-Xchange, the operator of GCash. The Tap-to-Pay service, which allows users to make payments by simply tapping their Android mobile phones on payment terminals, will initially be available for Android users. Reyes emphasised the focus on Android due to its prevalence among Filipinos. However, the company is actively seeking collaboration with Apple to extend…

In this exclusive interview at Money20/20 Asia, Vincent Fong, Chief Editor of Fintech News Network, sits down with Bank Negara Malaysia’s Deputy Governor Adnan Zaylani for an in-depth look into Malaysia’s fintech policy and regulatory landscape. We cover everything you need to know, including: Bank Negara’s long-term vision for fintech and digital finance How Malaysia is advancing cross-border real-time payments across ASEAN The evolution and future of Malaysia’s Fintech Sandbox The launch of the new Digital Insurer and Takaful Operator (DITO) licensing framework Progress and next milestones for Malaysia’s digital banks How Malaysia is championing value-based finance and Islamic finance…

Fintech News Network’s Vincent Fong sits down with Simon Loong, Founder and Group CEO of WeLab Group, one of Asia’s most successful fintech scale-ups. From a Hong Kong-based startup to a multi-market digital bank serving 70 million users and managing over US$15 billion in loans, Simon shares the real strategy behind WeLab Bank’s breakeven milestone, their ambitious plan to reach 500 million users by 2032, and why he believes AI agents will transform banking as we know it. We go deep into: How WeLab became the 3rd largest personal lender in Hong Kong Why most digital banks never turn a…