Financial Inclusion
Financial Services Revolution: Salmon’s Drive to Promote Inclusion
The economy in the Philippines is expanding at record speed, and its dynamic population – young, growing, and savvy at using mobile technologies – is set to become the key benefactor of the economic opportunities it creates, with a little
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How Embedded Finance Is Revolutionising Financial Services in Southeast Asia
Embedded finance is a thriving trend that is rapidly changing the banking and financial services landscape in Southeast Asia. With around 290 million unbanked consumers in the region, embedded finance has the potential to help improve financial inclusion for those
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Is Philippines Falling Short of Its PhilSys Digital Identity Ambitions?
This month, the Bangko Sentral ng Pilipinas (BSP) issued the latest rules outlining the minimum digital identification and verification requirements for financial institutions, otherwise known as electronic ‘know-your-customer’ procedures, or e-KYC. Seeking to promote seamless identity verification and customer due
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BSP Gives Nod for New Rules on e-KYC Using Digital IDs
The Bangko Sentral ng Pilipinas (BSP) has approved amendments to its due diligence regulations to include electronic Know-Your-Customer (e-KYC) using digital identity. The new rules set out the requirements for the use of digital identification and verification as part of
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BNPL Firm Mocasa Innovates Lending Space With Finscore’s Telco-Based Credit Scores
Buy Now, Pay Later (BNPL) firm Mocasa has tapped alternative credit scoring company FinScore to engineer bespoke credit scoring models that mitigate risk while its expanding market reach. Now in its second year of business, Mocasa is doubling down on
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UnionDigital Bank Partners mWell to Boost Financial Inclusion Among Filipinos
UnionDigital Bank, the digital banking subsidiary of Union Bank of the Philippines, has partnered with an integrated, fully digital health and wellness platform mWell in an effort to push financial inclusion in the country. Through this partnership, UnionDigital will intergrate
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GCash Users Can Now Open UNO Digital Bank Account Directly From App
Philippines’ mobile wallet GCash‘s customers can now open an UNO Digital Bank account directly from the app and access its digital banking products through #UNOready@GCash. Filipino citizens who are at least 18 years old, and who are fully verified GCash
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BSP Aims to Lower or Waive Fees for Smaller E-Payments
The Bangko Sentral ng Pilipinas (BSP) said that it will continue to work with banks to lower or waive transaction fees for smaller e-payments. The regulator is looking to make financial digitalisation more inclusive in line with the BSP’s Digital
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Financial Inclusion in the Philippines: The Synergy of Fintech and Rural Banks
In the Philippines, financial inclusion remains a pressing issue, particularly in rural areas where access to financial services is limited. This lack of access can perpetuate a cycle of poverty that is difficult to overcome. The traditional rural banking sector
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RCBC Enables MSMEs to Accept Digital Payments Through Its QRph code
Rizal Commercial Banking Corporation (RCBC) has rolled out its NegosyanTech digital payments service to enable micro, small and medium enterprises (MSMEs) to accept any payments from banks and e-wallets through its interoperable QRph code. The “RCBC NegosyanTech Lahat Pwede QRph”
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