Archive
Redefining Finance for Good: COVID-19, a Catalyst for Inclusive Digital Finance
The current COVID-19 health crisis is unprecedented in its scope, impacting all countries and the world’s economy at large. In banking, COVID-19 has accelerated the shift to digital, pushing customers towards mobile banking and contactless payments. For financial institutions, COVID-19
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Improved Financial Inclusion Key to Philippines’ Economic Recovery
Bangko Sentral ng Pilipinas’ (BSP) Governor Benjamin Diokno indicated that improving the financial inclusion landscape can aid in the recovery of the domestic economy from the pandemic. In a taped speech during the Pru Life UK Online Investment briefing, he
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Quezon City’s Public Market Embraces Digital Payments With DiskarTech App
Most of the Litex Market’s vendors at Commonwealth Avenue, Quezon City seem to have embraced digital payments with the aid of Rizal Commercial Banking Corporation’s (RCBC) DiskarTech app. They reported that about 197 out of 200 vendors have downloaded the
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Phillippines’ Digital Banking Framework to Trigger Wave of Innovation for the Unbanked
In the Philippines, the upcoming digital banking framework will trigger a wave of innovation and help address financial exclusion, experts said. During a recent webinar, experts representing CIMB Bank, RCBC, Finastra and Microsoft, discussed the forthcoming digital banking license, arguing
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FICO Survey Reveals Banks in Philippines Struggling With Digital Identity Authentication
FICO, a global analytics software firm, has released its Identity in Digital Banking Survey, which found that the complexity and cost of validating the identity of digital banking customers are the top pain points for banks in the Philippines. Almost
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MoneyGram and PayMaya Ties Up for Real-Time Payments Using Visa Direct
MoneyGram, a provider of cross-border P2P payments and money transfers, announced a partnership with PayMaya Philippines to enable real-time payments with Visa Direct. The new digital capability will allow customers to send money from the United States to the Philippines
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Grab Philippines Appoints Grace Vera Cruz as Its Country Head
Grab, South East Asian ride-hailing app, announced the appointment of Grace Vera Cruz as Country Head for Grab Philippines. Grace brings with her more than 15 years of business experience and vast industry knowledge to drive Grab’s mission in the
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Meet the 5 Startups Selected for ING and UNICEF’s Fintech for Impact Initiative
ING Bank and UN children’s agency UNICEF have launched an initiative in the Philippines called ‘Fintech for Impact’ to support startups developing digital solutions that aim to empower young people, children and families. Five fintech startups will receive equity-free investments,
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BSP Pushes for Financial Inclusion With Digital Payments Transformation Roadmap
The Monetary Board has approved the Bangko Sentral ng Pilipinas’ (BSP) Digital Payments Transformation Roadmap 2020-2023. The roadmap charts BSP’s current initiatives and strategies in advancing an efficient, inclusive, safe and secure digital payments ecosystem. It has identified two key
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Fintech Alliance Collaborates With Philippine Statistics Authority to Roll Out PhilSys ID
The National ID system or the Philippine Identification System ID (PhilSys ID) has launched virtually on October 9, 2020. FintechAlliance.ph is a financial inclusion partner of PhilSys ID. The organisation is a coalition of strategic players in the digital finance
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