Banking
Philippines, Japan Launch Credit Risk Model for SMEs’ Creditworthiness
The Bangko Sentral ng Pilipinas (BSP) and the Japan International Cooperation Agency (JICA) have teamed up to launch the Credit Risk Database (CRD) Scoring Model, aimed at improving the creditworthiness assessment of small and medium-sized enterprises (SMEs) in the Philippines.
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Two Filipino Fintech Leaders Recognised at SFF Global Fintech Awards
Two Filipino fintech companies’ leaders received awards at the recent Singapore Fintech Festival (SFF) Global FinTech Awards 2022 UNO Digital Bank Manish Bhai, Founder, CEO, was awarded the Top 10 FinTech Leaders award. Meanwhile, GeiserMaclang founder Cristina Amor Maclang walked
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New Challengers Pressure Incumbents to Improve Customer Experiences
In the Philippines, the market entry of new, digital-first challenger banks is shaking up the banking industry, forcing incumbents to put an emphasis on improving customer experiences to not only win new customers, but also retain existing ones. During the
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70% of Filipino Banks Find it Difficult to Keep up With Customer Expectations
Changing consumer expectations and a fast-evolving banking landscape are posing challenges for incumbents to keep up. Despite the realization that digital banking is the way forward, many Filipino banks are struggling to develop and implement innovative solutions, citing outdated legacy
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LANDBANK Unveils Digital Onboarding for Account Opening via Mobile App
The Land Bank of the Philippines (LANDBANK) has rolled out digital onboarding for its customers to enable them to open a savings account without the need to visit a physical branch. The state-run bank launched the digital onboarding system known
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FICO Survey Reveals Filipinos’ Rising Preference for Digital Banking Channels
A recent survey by global analytics software firm FICO has revealed that 56 percent of Filipino consumers prefer to use digital channels to engage with their bank during financial hardship. The poll was conducted in December 2020, during the height
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ING Banks: COVID-19 Is Causing Fillipinos to Save More
Dutch financial giant and all-digital bank in the Philippines, ING Bank, said that the rise of the “savings mentality” during the quarantine period can be sustained even after the COVID-19 pandemic in the Philippines. In a report by ING’s research
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FICO Survey: Filipinos Showing Greater Acceptance for Biometrics
FICO, a global analytics software firm, has released its Consumer Digital Banking Survey, which found a notable percentage of Filipinos are not taking the necessary precautions to protect their passwords and logins when banking online. The study found that only 53% are using
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RCBC Sees 1000% Increase in Growth for Cardless ATM Withdrawal Service
More than 1,000-percent increase in the growth was recorded in May in transaction value coursed through Rizal Commercial Banking Corporation’s (RCBC) cardless ATM withdrawal service, as the bank sustains its exponential growth across key digital metrics at the close of
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RCBC Expands Its Payout Network to Include Those Without Mobile Phones in Rural Areas
Rizal Commercial Banking Corporation (RCBC) said that it is closer to its target of covering all provinces of the country with handheld automated teller machines (ATM) as the bank beefs up the payout partner network through its ATM Go service.
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