Tag "Philippines"
Philippines’ Outdated Outward Remittance Processes is Overdue for Revamp
As Asia’s third largest recipient of remittances, the Philippines relies heavily on money sent home by around 10 million Filipinos who live and work overseas. In 2019, personal remittances accounted for 9.3% of gross domestic product, according to Bangko Sentral
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Phillippines’ Digital Banking Framework to Trigger Wave of Innovation for the Unbanked
In the Philippines, the upcoming digital banking framework will trigger a wave of innovation and help address financial exclusion, experts said. During a recent webinar, experts representing CIMB Bank, RCBC, Finastra and Microsoft, discussed the forthcoming digital banking license, arguing
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Top 16 Fintech Events in the Philippines to Attend in 2020
With a population of over 100 million people and rising Internet and mobile penetration rates, the Philippines is poised to see its fintech industry boom. The sector has witnessed significant growth over the past couple of years on the back
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Philippine Banks ATM Fees Compared
Bank of the Philippine Islands (BPI), Banco de Oro (BDO), Rizal Commercial Banking Corporation (RCBC), Metrobank and the Philippine National Bank (PNB) and UnionBank of the Philippines are the six banks in the Philippines charging the lowest ATM fees, while
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State-Owned Overseas Filipino Bank to Become a Fully Digital Bank by 2020
The Overseas Filipino Bank (OFBank), a state-owned bank and a subsidiary of Land Bank of the Philippines, is planning to become a fully branchless, digital lender by mid-2020. Currently pending approval from the Bangko Sentral ng Pilipinas (BSP), the country’s
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Philippines Introduces New Laws, Initiatives To Boost Innovation And Entrepreneurship
The Philippines government is pushing for innovation and entrepreneurship, introducing new regulations and programs to support young companies, and leading numerous projects to bring convenient e-government public services to the masses. The Philippines Innovation Act The Philippines’ president, Rodrigo Duterte,
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Mobile Wallet GCash Leads in Filipino Market
With more than 5 million downloads from Google Play, GCash is not only one of the Philippines most popular mobile banking apps, it is also one of the cheapest banking services providers, requiring no minimum maintaining balance compared to other
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There Are 41 Crypto Businesses Licensed in Philippines Right Now
Philippines has been taking active steps recently to reform its regulation in efforts to position itself a crypto friendly regime . The country’s central bank, Bangko Sentral ng Pilipinas (BSP), released its rules for domestic exchange in February 2017, seeking
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Fintech Set to Enter a New Phase in the Philippines
Strong fundamentals, a supportive regulator and a comprehensive cell phone coverage, are some of favorable attributes of the Philippine market set to drive the digital transformation of the country’s financial sector, according to a report released earlier this month by
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