Posts From Johanan Devanesan
Oradian Champions Financial Inclusion at Scale in the Philippines
Oradian, a fintech company headquartered in Croatia, has made significant strides in enhancing accessibility in the financial sector, particularly in the Philippines. Recently, they played a prominent role in a panel discussion at the Singapore Fintech Festival, focusing on scalability
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Inside the Digital Transformation Strategy of Historic PBCOM
The Philippine Bank of Communications (PBCOM) started operations as an overseas branch of the Chinese Bank of Communications, one of the largest banks in China that was headquartered in Taiwan – making it one of the first non-American foreign commercial
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3 Ways the Philippines is Navigating the Future of Its Digital Economy
Held at the Shangri-La The Fort in Taguig City, Philippines from 7th to 8th August 2023, the INDX 3 Summit brought together some of the most progressive minds in the country’s fintech sector to discuss developments of its burgeoning digital
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IMF Cautions Against CBDC Risk Posed to Banks in the Philippines
Felipe M Medalla, former Governor of Bangko Sentral ng Pilipinas (BSP), earlier this year stated that the central bank of the Philippines had started a pilot wholesale central bank digital currency (CBDC) project, a major capacity-building exercise for both the
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The Fintech Philippines Report 2023: Financial Inclusion Drive Starts to Bear Fruit
In the Philippines, the fintech sector has been expanding at an unparalleled rate, transforming how individuals and companies handle financial dealings, as evidenced in the 2023 edition of the Fintech Philippines Report, produced by Fintech News Philippines in collaboration with
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BSP to Incentivise Sustainable Green Financing in the Philippines
The Bangko Sentral ng Pilipinas (BSP) intends to introduce further incentives to promote sustainable and green financing in the Philippines. These incentives, including an increased single borrower’s limit (SBL) and a zero reserve requirement rate, are part of the BSP’s
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Banks in the Philippines Face Fintech Threat, Warns McKinsey
Management consulting firm McKinsey & Co. has cautioned banks in the Philippines that they must adapt to the emerging and rapidly evolving landscape of digital finance or risk losing market share to emerging fintech providers. In a study entitled On
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SEC Delays Releasing Philippines Digital Assets Framework in Wake of FTX
The Philippine Securities and Exchange Commission (SEC) has deferred the rollout of a new framework for digital assets, influenced by lessons learned from the fall of Bahamas-based cryptocurrency exchange, FTX, in late 2022. The SEC Chairperson, Emilio B. Aquino, expressed
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Is Philippines Falling Short of Its PhilSys Digital Identity Ambitions?
This month, the Bangko Sentral ng Pilipinas (BSP) issued the latest rules outlining the minimum digital identification and verification requirements for financial institutions, otherwise known as electronic ‘know-your-customer’ procedures, or e-KYC. Seeking to promote seamless identity verification and customer due
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How Far Along is the Philippines’ Digital Payments Transformation Roadmap?
Of the many branches of fintech that can benefit society, the Philippines recognised the need to embrace digital payments as a means of fostering financial inclusion and economic growth. In response, the Bangko Sentral ng Pilipinas (BSP) launched the Digital
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