Banking
UnionBank Bolsters Digital Arm UnionDigital with US$32.5M Capital Infusion
UnionBank of the Philippines is significantly enhancing its investment in its digital banking division, UnionDigital Bank Inc., with a capital boost of P1.8 billion (US$32.5 million). This move, ratified by the bank’s board on November 24, aims to bolster UnionDigital’s
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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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Security Bank Invests 12.3% Revenue on Tech — Here’s How They Prioritise It
The digital age has ushered in a new era of banking efficiency, enabling financial institutions to connect with even the most remote segments of society. Faced with the challenges of modern technology and the demands of discerning customers, banks now
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Behind PNB’s Digital Strategy Which Onboarded Over 300% New Users
In the ever-evolving banking and finance landscape, the digital revolution has emerged as a driving force, revolutionising how financial services are delivered and consumed. With a focus on enhancing customer satisfaction, Philippine National Bank (PNB) began a strategic effort in
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A Look at BSP’s Integrated Strategy To Boost Sustainable Finance
The Bangko Sentral ng Pilipinas (BSP) has embraced the responsibility of championing sustainability in the Philippine financial system. As a central bank, the BSP recognises the urgent need to address climate change and other environmental risks to safeguard price stability,
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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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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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