
Financial Inclusion
GoTyme Bank and PayMongo Enable Easier Loan Access for Thousands of SMEs
Filipino digital bank GoTyme and payment gateway PayMongo have recently announced a partnership aimed at enhancing financial access for small and medium-sized enterprises (SMEs). This collaboration is set to allow thousands of SMEs in the PayMongo merchant network to obtain
Read MoreNetbank Offers Tailored Savings Accounts for Filipino Facebook Groups’ Members
Netbank, a Filipino bank specialising in partnership-based banking, has launched new savings accounts in collaboration with several Filipino Facebook Groups. This offering is designed to meet the unique needs and preferences of specific communities. This partnership-based banking approach allows the
Read MoreBSP’s Push to Standardise QR Codes Helps Salmon Expand Financial Inclusion
Bangko Sentral ng Pilipinas’ (BSP) recent moves to standardise QR payment codes across the Philippines are helping democratise consumer credit in the Philippines in unexpected ways, with Salmon leading the charge. Based on a global standard for secure payments, QR
Read MoreGCash Rolls Out New Visa Card for Millions of Unbanked Filipinos
Philippines’ e-wallet GCash has partnered with Visa to launch the new GCash card that will give millions of unbanked Filipinos access to the benefits of owning one. The GCash card can be used at over 100 million merchants in the
Read MoreRCBC ATM Go Records PHP 7.5 Billion in Transactions
Rizal Commercial Banking Corporation’s (RCBC) community-based financial service ATM Go recorded PHP 7.5 billion (US$ 132.1 million) in transactions. The service has been growing rapidly, with a 43% year-on-year increase in transaction volume and a 527% increase in the number
Read MoreINDX3.0 Puts Spotlight on Financial Inclusion for Equitable Growth in the Philippines
Financial inclusion has increasingly gained recognition as a pivotal driver of economic development, fostering empowerment and equitable national growth. It goes beyond the mere accessibility of financial products; genuine financial inclusion necessitates the thoughtful design, seamless accessibility, and tailored responsiveness
Read MoreIMF Cautions Against CBDC Risk Posed to Banks in the Philippines
Felipe M Medalla, former Governor of Bangko Sentral ng Pilipinas (BSP), earlier this year stated that the central bank of the Philippines had started a pilot wholesale central bank digital currency (CBDC) project, a major capacity-building exercise for both the
Read MoreHow 6 Licensed Digital Banks in the Philippines Have Progressed
In the dynamic landscape of the Philippine fintech sector, 2023 has emerged as a pivotal year, signifying the nation’s determined stride toward enhanced financial inclusion and digital transformation. Digital banking in the Philippines is progressively making its mark, with significant
Read MoreBehind PNB’s Digital Strategy Which Onboarded Over 300% New Users
In the ever-evolving banking and finance landscape, the digital revolution has emerged as a driving force, revolutionising how financial services are delivered and consumed. With a focus on enhancing customer satisfaction, Philippine National Bank (PNB) began a strategic effort in
Read MorePhilippines Moves Closer to Open Finance Ambitions
The Bangko Sentral ng Pilipinas (BSP), backed by the International Finance Corporation (IFC) and the World Bank, has launched the Open Finance PH Pilot, moving a step closer towards its ambition to leverage open banking and data sharing to advance
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