Archive

BSP Urges Banks to Beef up Security Against Cyber Attacks

Bangko Sentral ng Pilipinas (BSP) has urged financial institutions to adopt robust control measures against cyber attacks on retail electronic payments and financial services (EPFS) due to the increasing shift to digital channels. According to the memorandum that BSP had

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ING Set to Shutter Its Philippines’ Retail Banking Business Before the Year Ends

ING announced that it will leave the retail banking market in the Philippines before the end of 2022. It will, however, continue to invest in its wholesale banking business and global shared services operations in the Philippines. According to ING,

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Philippines to Get Gov’t Agencies to Support National Financial Inclusion Strategy

The Malacañang palace, the official residence and principal workplace of the Philippines’ president, has approved a circular institutionalising the whole-of-government support for the implementation of the National Strategy for Financial Inclusion (NSFI 2022-2028). This also pushes for the adoption of

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Alternative Lenders Are on the Rise to Plug the Financing Gap for SMEs

In Singapore, small and medium-sized enterprises (SMEs) are struggling to secure sufficient financing from traditional lenders, with most still largely relying on their personal networks to support their business, findings from a new study by cloud banking startup Mambu show.

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Cybersecurity Talent Shortage Puts APAC Organizations at Risk

Organizations across Asia are facing challenges in recruiting and retaining cybersecurity talents, a skills shortage that’s putting them at risk amid increasing occurrence of security breaches and resulting financial losses, findings from a research by cybersecurity firm Fortinet show. The

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Filipino MSME Bookkeeping App Lista Raises Over US$5.1 Million

Lista, a bookkeeping app for MSMEs based in the Philippines, has raised over US$ 5.1 million in a recent funding round led by Singaporean VC firm Openspace Ventures. Existing investors East Ventures, Saison Capital, and 1982 Ventures had also participated

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Digital ID Verification, Remote Document Signing to Become the Norm in Finance Sector

The pandemic has accelerated the growth of non-face-to-face interactions, forcing banks, merchants and others to swiftly deploy digital tools to accurately verify the identity of the person on the other end of a digital transaction. A 2021 study by advisory

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MoneyGram Launches Global Crypto-To-Cash Service in the Philippines

MoneyGram has partnered the Stellar Development Foundation (SDF) with to initiate the roll out of  its crypto-to-cash service that is now available in key remittance markets, including the Philippines, Canada, the U.S., and Kenya for the first wave of users.

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Alibaba Cloud Set to Host the Fintech Summit 2022 in the Philippines

Alibaba Cloud Philippines is set to host the “Alibaba Cloud Day Philippines: Fintech Summit 2022” at the at Grand Hyatt Manila on 21 June 2022. During this half-day summit, attendees will hear from industry leaders about the latest policies, hottest

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GCash Surpasses PHP 2.5 Billion in Loan Disbursements Within 10 Months

Philippines’ mobile wallet GCash has disbursed more than PHP 2.5 billion in cash loans in just 10 months since the launch of GLoan. According to GCash, this reflects the significant demand for affordable and fair lending rates among Filipinos. Offering

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