Archive
Migrating to a Cloud-Native Core Helps Banks Reduce Core Spend by 76% Over 5 Years
Across the globe, financial institutions are under increasing pressure to remain competitive in a rapidly changing financial services landscape. Challenger banks and fintechs are leveraging modern technology stacks and agile operating models to innovate at speed and build modern, customer-centric
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BSP Lays Out Prudential Requirements for Philippines’ Digital Banks
The Bangko Sentral ng Pilipinas (BSP) has approved the second set of guidelines for digital banks following the release of the digital bank framework in December 2020. The approved guidelines set out the BSP’s supervisory expectations with regard to corporate
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GCash Disbursed PHP 40 Billion in Loans to More Than 1 Million Users
Philippines’ mobile wallet GCash announced that it has disbursed more than PHP 40 billion worth of loans as it expanded to more relevant lending products. Taking into account its lending offerings GCredit, GLoan and GGives, GCash has logged one million
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I-Remit Taps Ripple’s Liquidity Solution for Same-Day Settlements Globally
I-Remit, a non-bank remittance service provider in the Philippines, will leverage Ripple’s On-Demand Liquidity (ODL) solution to improve its cross-border treasury flows. As a partner of Ripple since 2018, I-Remit is an early adopter of ODL and has been using
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GCash to Launch In-App Stock Trading Service Next Year
Mobile wallet GCash has partnered with the Philippine Stock Exchange (PSE) and brokerage AB Capital Securities to launch its in-app stock trading feature GStocks. GCash aims to roll out the feature by year-end to select users followed by a nationwide
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How to Build End-to-End Digital Trust for Payments and Financial Services
Did you know that in 2020, 84% of businesses in Asia Pacific reported losses in revenue due to payment fraud? Or that synthetic identity theft is growing despite strong Know Your Customer (KYC) practices — because, to date, there has
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PESONet, InstaPay Transactions Surpassed PHP 5.37 Trillion in July This Year
The combined value of PESONet and InstaPay transactions went beyond PHP 5.37 trillion during the first seven months of 2022, a 43 percent increase from the values recorded during the same period last year. PESONet and InstaPay also recorded more
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Data Enrichment Key to Enhancing Accuracy of AI Models in Fintech
Data enrichment, the process of enhancing internal data with relevant, contextual data obtained from external sources, is critical for financial services companies looking to get the most out of their investments in artificial intelligence (AI), allowing them to build more
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GCash Hits 66 Million Users, P3 Trillion in Gross Transaction Value in 1H 2022
GCash reached P3 trillion in gross transaction value (GTV) in the first half of the year, nearly matching its P3.8 trillion full-year GTV of 2021. Barring any unforeseen circumstances, GCash expects to end 2022 with P6 trillion GTV, six times
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How Custom Fields Enable Extensible Banking
One of the great advantages of a cloud-based core banking system is its inherent extensibility – that is, it has been designed to allow for the addition of new features in real-time, and to be configured by the user without
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