Various

RCBC to Set Up Digital Bank Following US$ 90.5 Million Investment by Japan’s SMBC

The Sumitomo Mitsui Financial Group (SMBC), a Japanese multinational banking and financial services institution, announced that it is set to acquire a 4.99% stake in the Rizal Commercial Banking Corporation (RCBC) in a deal worth US$90.5 million (JPY 10 billion).

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RCBC’s Diskartech App Emerges as Filipinos’ Preferred Disbursement Platform

Rizal Commercial Banking Corporation’s (RCBC) financial inclusion super app DiskarTech is gaining ground as a preferred disbursement platform of Filipinos for social aid, loans proceeds, dividends, and other digital payments. Since the start of community quarantines in March 2020, RCBC

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Intellicare Taps Unionbank to Open Digital ePaycard Accounts for Affiliated Doctors

Philippines’ health maintenance organisation (HMO) Asalus Corporation which operates under the trade name Intellicare, partnered with Union Bank of the Philippines for ePaycard Digital Account Opening (eDAO). This helps to speed up the disbursement of professional fees, benefits, and other

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Nearly 1 Million Filipinos Signed up Online for National ID via Digital Registration

More than 800,000 have already signed up for the Philippine Identification System (PhilSys) via digital registration, according to the Philippine Statistics Authority (PSA). The government is urging Filipinos to sign up for the Philippine identification (PhilID), the national ID, to

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Filipino Businesses Increase Investment in Digital Experiences, Customer Analytics

Businesses in the Philippines are investing in user-friendly digital experiences and improving customer analytics as they perceive customer experience and innovation as strategic imperatives and critical differentiators, according to findings of a new study by Oxford Economics, a global economic

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CIMB Philippines Signed on Close to 4 Million Customers Within 2 Years of Launch

CIMB Bank Philippines announced that it has accumulated over 40 international awards and has signed up close to 4 million customers within just a little over 2 years from opening its digital doors in the country. International finance organisations have

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Philippines and UK Inked MoU for Fintech and Green Finance Cooperation

Several Philippines agencies have signed a Memorandum of Understanding (MOU) with the British Embassy of Manila for the country’s participation in UK’s Prosperity Fund for the ASEAN Economic Reform Programme and ASEAN Low Carbon Energy Programme. The MOU formalises the

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Year End Message to Our Readers – Offline from 24th December to the 3rd January

Fintech News Philippines would like to take this opportunity to wish all our readers a Merry Christmas and a very Happy New Year. We will be taking a break from the 24th December 2020 to the 3rd January 2021. Until

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BSP to Impose Annual Cap of 24% on Credit Card Interest Rates

The Bangko Sentral ng Pilipinas (BSP) has imposed an interest rate cap of 2% a month or 24% annually starting 3 November 2020 onwards. “Starting on this date, interest or finance charges on unpaid outstanding credit card balance should not

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Fintech Alliance.ph Supports the Philippines Government’s Shared Prosperity Initiative

Fintech Alliance.ph joins 25 members from the Philippine Business Groups (PBS) to organise a convocation in support of the government’s “Ambisyon Natin 2040” initiative amidst the COVID-19 pandemic. A manifesto of support will be presented via Zoom and Facebook live

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