Tagged: Philippines

November 26, 2023 @ 9:42 pm By Michael Wong  |  

The future of Philippine fintechs, which have basic characteristics centered around innovation and sustainability, will be driven in major part by investments that value environmental, social and governance (ESG) principles, analysis from consumer finance company Digido revealed. The global sustainability technology (SusTech) industry, characterized to… Read More

November 20, 2023 @ 9:25 pm By Omar Faridi  |  

​Personal remittances from Overseas Filipinos (OFs) in September 2023 have reportedly “reached US$3.23 billion, 2.6 percent higher than the US$3.15 billion recorded in the same month last year.” The growth in personal remittances in September 2023 was driven “by increased remittances from 1) land-based workers… Read More

November 19, 2023 @ 3:39 pm By Michael Wong  |  

Australia and the Philippines have agreed to cooperate in promoting trade and investment within the financial technology (fintech) sector, marking a major step towards enhancing the technological collaboration between the two nations. The memorandum of understanding that formalises the partnership was signed by FinTech Alliance.ph… Read More

November 5, 2023 @ 10:29 pm By Michael Wong  |  

The Philippine Securities and Exchange Commission (SEC) now allows crowdfunding platforms to register as official gatekeepers of qualified institutional and individual investors, a move that forms part of the government’s efforts to bolster the capital market. This development stems from the SEC’s latest issuance, Memorandum… Read More

October 22, 2023 @ 10:32 pm By Omar Faridi  |  

Tonik, the digital bank in the Philippines, is pleased to announce its newest strategic partnership with life insurance company Sun Life Grepa Financial, Inc.. This transformative collaboration aims “to enhance the financial well-being of the companies’ valued customers.” The focal point of this groundbreaking partnership… Read More

October 8, 2023 @ 1:50 pm By Michael Wong  |  

The Asian Development Bank (ADB) has approved a $300 million policy-based loan to support the Philippines government in creating a stronger institutional and policy environment to help expand Filipinos’ access to financial services, particularly the vulnerable segment of the population, and to promote economic growth…. Read More

October 2, 2023 @ 6:22 am By Michael Wong  |  

Globe Fintech Innovations, Inc (Mynt), the parent company of the most popular e-wallet in the Philippines GCash, is acquiring Electronic Commerce Payments Inc (ECPay) for about $40 million, according to a disclosure Monday. In a statement, Globe Telecom, the parent company of Mynt, said it… Read More

September 23, 2023 @ 6:10 pm By Michael Wong  |  

Recent preliminary data reveals that in July, outstanding loans of universal and commercial banks (U/KBs), excluding reverse repurchase (RRP) placements with the Bangko Sentral ng Pilipinas (BSP), witnessed a 7.7% year-on-year growth, a slight decrease from the 7.8% reported in June. When assessed on a… Read More

September 15, 2023 @ 12:11 pm By Omar Faridi  |  

The team at TWINO is pleased to announce the expansion of TWINO Group lending operations into the Philippines, in a continued partnership with VIA SMS Group under the VAMO brand. Thus, VAMO Philippines securities are now “available for investments on TWINO platform allowing you to… Read More

September 11, 2023 @ 10:02 pm By Omar Faridi  |  

Globe, the telecommunications service provider and digital solutions platform in the Philippines, has partnered with international insurtech bolttech in order “to launch Gadget Xchange, a new mobile device program that will make postpaid device switching easier, no questions asked.” The innovative program reportedly “offers greater… Read More

September 4, 2023 @ 4:43 am By Michael Wong  |  

Japan’s telecom giant IPS Inc. has committed an additional $100 million in new investments into the Philippines for 2023 to 2024 to expand the capacity of a modern and secure gateway for the archipelago. This announcement was made by the Philippine Department of Information and… Read More

August 30, 2023 @ 8:57 pm By Omar Faridi  |  

The Philippines’ “Pioneering” Digital Bank Tonik continues to take strides in furthering its Shop Installment Loan through its partnership with trusted retailer, Home Along. Since the onset of 2022, Tonik’s Shop Installment Loan “has been accessible across 70% of Home Along retail outlets, a strategic… Read More

August 20, 2023 @ 10:09 pm By Omar Faridi  |  

The Philippines’ First Neobank Tonik Digital Bank is pleased to announce the launch of its Shop Installment Loan to FC Home Center stores. The partnership pushes to “enhance the shopping experience of customers in the consumer durables market.” Customers will now have “access to 15-minute… Read More

August 20, 2023 @ 9:58 pm By Omar Faridi  |  

Atome Financial has announced that it has renewed and expanded its partnership with HSBC Singapore to include the Philippine market to its US$100m debt facility. At the moment, Atome has reportedly “disbursed more than US$4b in loans.” Atome Financial and HSBC Singapore had “entered into… Read More

August 19, 2023 @ 6:49 pm By Omar Faridi  |  

Temenos (SIX: TEMN) announced that Cebuana Lhuillier Bank, one of the most dynamic rural banks in the Philippines, has selected Temenos in order “to modernize its core banking platform, helping the bank, which serves seven million Filipinos, to quickly launch new banking products and scale… Read More

August 9, 2023 @ 10:26 pm By Omar Faridi  |  

Netbank and UBX have signed an agreement to issue loans to sellers on ecommerce platforms, and started to issue these loans. Netbank expects to rapidly “expand its lending to e-commerce sellers in the next year.” Many sellers on e-commerce platforms “require additional working capital to… Read More

August 9, 2023 @ 12:55 pm By Omar Faridi  |  

The Digital Dollar Project announced the completion of a pilot study conducted in collaboration with The Western Union Company, BDO Unibank, Inc. (BDO Unibank) in the Philippines, and support from Accenture. This collaboration represents the Digital Dollar Project’s latest private sector efforts “in support of… Read More

July 30, 2023 @ 10:21 pm By Omar Faridi  |  

The first half of the year was a “busy” one for the RoboCash Group. The holding focused “on the expansion of the current business in the Philippines and Kazakhstan, as well as the systematic preparation for the opening of new markets.” As noted in a… Read More

July 27, 2023 @ 1:22 am By Omar Faridi  |  

Netbank, the Filipino embedded finance platform, is plessed to announce its strategic partnership with Pays0, a dynamic payments company, to offer seamless funds disbursement services through a cutting-edge application programming interface (API). This collaboration proves the opportunities in the Filipino payments market and marks a… Read More

July 25, 2023 @ 10:17 pm By Omar Faridi  |  

Bangko Sentral ng Pilipinas (BSP) reports that personal remittances from Overseas Filipinos (OFs) reportedly “reached US$2.78 billion in May 2023, higher by 2.9 percent than the $2.70 billion registered in the same month last year.” The increase in personal remittances in May 2023 was “due… Read More