Archive

Global Report Reveals Filipino Banks Face Extinction Unless They Embrace Digitisation

Three in five banks believe they will cease to exist within five to ten years unless they change their business models, according to a new global research report “Evolve or be extinct” from the Financial Times Focus (FT Focus) and

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Fintech Alliance.PH Condemns Irresponsible Data Harvesting by Online Lenders

The Fintech Alliance.PH, the National Privacy Commission (NPC) and various industry players have joined forces in condemning the insidious practice of illegal and irresponsible data harvesting of some online lending applications. Several online lending platforms have been found to be

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How Will Branch Banking Evolve in the Digital Age?

With digital adoption spiking up in recent years coupled with Bangko Sentral Ng Pilipinas’ recent introduction of the digital banking framework, industry pundits have been examining the relevance of branch banking and whether it will survive the digital age. A

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PhilSys: Key Building Block for Greater Financial Inclusivity in the Philippines

In August 2018, President Rodrigo Duterte signed the Philippine Identification System Act into law to create a national identification system where a single official identification card will be issued to every citizen that combines various government-issued identification. Through the act,

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Machine Learning: The Future of E-Commerce Fraud Prevention

Machine learning plays a pivotal role in effective fraud prevention systems. In this article, learn how machine learning can significantly improve your business’ ability to stop fraud attacks. With the recent surge in e-commerce usage globally, the possibility of an

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Fintech Alliance.PH Partners 10×1000 Tech to Roll Out Fintech Programme for Filipinos

Fintech training platform 10×1000 Tech for Inclusion launched its latest global Fintech Foundation Programme Flex, an online certificate programme with the goal to bridge digital skills gap to drive inclusion. Fintech Alliance.ph will collaborate with 10×1000 to recruit 100 learners,

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RCBC’s DiskarTech App Rakes In PHP 11.8 Billion in Transactions a Year After Launch

Rizal Commercial Banking Corporation’s (RCBC) financial inclusion super app DiskarTech has booked a gross transaction value in excess of P11.8 billion a year after its launch in July last year. This total throughput value is an aggregate of both organic

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Voyager’s PayMaya Bags Sixth Digital Bank License From BSP

Bangko Sentral ng Pilipinas (BSP) has awarded the sixth digital banking license to Voyager Innovations (Voyager), through its financial technology arm PayMaya Philippines. PayMaya had previously raised US$167 million from the likes of Philippines telecoms PLDT, global investment firm KKR,

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BSP, French Development Agency Sign PHP 41.3 Million Grant for Financial Inclusion Push

Bangko Sentral ng Pilipinas (BSP) and the Agence Française de Développement (AFD) signed a grant facility agreement of 700,000 Euros (around PHP 41.3 million) to support the Philippines’s financial inclusion drive, especially among rural and women-owned enterprises. This will fund

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Tonik Ventures Into the Consumer Lending Market With ‘Quick Loan’ Offering

Philippines’ neobank Tonik announced that it has launched a Quick Loan product on its platform marking its venture into the consumer lending market in the country. Tonik said that its all-digital Quick Loan is designed to serve the unbanked and

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