May 2022 - Fintech News Philippines

Archive

Banking

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

Security Sponsored

New Report Outlines Emerging Fraud Trends in 2022

The widespread shift to online channels during COVID-19 has seen scams and fraudulent activities surge. A new study by Onfido, a provider of identity verification solutions, highlights an increase of 44% in identity fraud since 2019 as a result of

Payments

BSP Says EGov Pay’s Transactions Showed 467% Growth Since 2021

The use of EGov Pay, a system that enables digital payment for government services, jumped by 467 percent to over 91,000 transactions at end of 2021 from around 16,000 transactions a year earlier, according to the Bangko Sentral ng Pilipinas

E-wallets

Mynt’s GCash Clocks Over 60 Million Registered Users

GCash, a Philippines’ mobile wallet operated by Mynt under Globe’s corporate venture builder 917Ventures, announced that it now has over 60 million registered users and more than five million merchants nationwide. Additionally, GCash said that it records 29 million daily

Digital Transformation Sponsored

At the Cusp of a BaaS Revolution, Here Are Some of the Challenges

The future of finance is open, and the rise of Banking-as-a-Service (BaaS) means this future is closer than ever. The BaaS industry is quickly maturing, with 88% of senior APAC executives – in industries from banking and technology to healthcare

Payments

BSP and PPMI Set to Launch Three E-Payment Streams Over the Next Two Years

The Bangko Sentral ng Pilipinas (BSP) and the Philippine Payments Management Inc. (PPMI) will launch three e-payment streams as part of a push to broaden the use of digital payments over the next two years. BSP’s Governor Benjamin E. Diokno

Cloud Digital Transformation Sponsored

Banks Need to Avoid Risks of a Big Bang Transition When They Digitise

The latest research by the International Data Corporation (IDC) and Thought Machine, a cloud native core banking technology firm, revealed that 40% of banks in the Asia Pacific will make significant changes to their current core banking systems in the

Crypto Funding

Coins.ph Raises US$30 Million in Series C to Deepen Its Southeast Asian Presence

Philippines’ fiat and crypto wallet services provider Coins.ph announced that it has closed a US$30 million Series C financing led by Ribbit Capital, and joined by other strategic investors. The company said that the new capital will be used to

E-wallets InsurTech

GCash Partners With Generali Philippines to Roll Out More Insurance Packages

Philippines’ mobile wallet GCash has teamed up with Generali Philippines to offer four affordable insurance packages on GCash’s GLife feature. GLife is a lifestyle “mini app” within GCash that offers food, groceries, gadgets, fashion, beauty products, and now insurance to

Trading

Understand These Important Points if You Are a Retail Trader

According to statistics on the websites of many forex & CFD brokers, an average of 77% of traders lose money trading derivatives. Other reports also say 90% of traders lose money trading online on a general scale be it equity,