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Philippines, German central banks partner on capacity-building
The central banks of the Philippines and Germany have formalized their partnership on capacity-building through the signing of a memorandum of understanding......»»
Banks’ bad loans swell in 2023
The soured loans of Philippine banks picked up to 3.23 percent in 2023 from the almost two-year low in 2022, according to the Bangko Sentral ng Pilipinas......»»
Globe reports steep 73.7% decline in blocked bank-related spam, scam SMS in 2023
The telecommunications company Globe has reported a significant 73.7% decrease in the number of blocked spam and scam SMS related to banks in 2023. This reduction is a result of the interception of 21.9 million bank-related fraudulent messages, a sharp decline from the 83.39 million messages blocked the previous year. Globe attributes this achievement to its proactive strategies and strong partnerships with major banks and financial institutions in the Philippines. The company has established anti-fraud alliances with the Bankers Association of the Philippines and individual players in the finance sector, enabling the sharing of data and intelligence to prevent and investigate fraud effectively. Anton Bonifacio, Chief Information Security Officer at Globe, emphasized the company's commitment to combating financial fraud and enhancing security measures for customer protection. Globe has invested approximately US$20 million to improve its spam and scam SMS detection and blocking system and operates a 24/7 Security Operations Center to filter out unwanted messages from both international and domestic sources. Despite certain limitations, Globe remains dedicated to customer protection and emphasizes the need for a unified approach in the fight against fraud. The company is focused on leveraging technology and strengthening alliances with key stakeholders to combat fraudulent activities. As Globe continues to advance its technologies and collaborations, it aims to provide a safer and more secure digital environment for its customers. For more information about Globe and its initiatives, visit www.globe.com.ph. (SPONSORED CONTENT).....»»
RCBC the best PH bank by network uptime, and UBP ranks at the bottom
Brankas, a Singapore-based fintech software and services provider, published its first annual ASEAN Bank Stability Report to measure the network uptime performance of ASEAN-region banks, and RCBC finished in the top spot among banks in the Philippines with an uptime of 98.3% (31 hours total downtime) including a stretch of seven months with zero downtime events......»»
‘Philippine banks to ride wave of robust economic growth’
The projected robust economic growth this year could shape up into a better year for Philippine banks, S&P Global Ratings said......»»
Banks expect higher consumer, corporate loan demand in Q1
Despite the higher for longer interest rate scenario, Philippine banks still expect a stronger loan demand from companies and households in the first quarter of the year, according to the Bangko Sentral ng Pilipinas......»»
More groups to establish Islamic banks in Philippines
More groups are looking at establishing Islamic banks in the Philippines as the first branch of the new banking classification is expected to open soon, according to the Bangko Sentral ng Pilipinas......»»
BSP pursues reforms to modernize banks
The Bangko Sentral ng Pilipinas is pursuing policy reforms to modernize Philippine banks and ensure a sustainable, digital and inclusive banking future......»»
BSP onboards 1st nonbank electronic money issuer
The Bangko Sentral ng Pilipinas (BSP) achieved a significant milestone by welcoming OmniPay, Inc. as the first nonbank electronic money issuer (EMI) participant in its Real Time Gross Settlement (RTGS) payment system, PhilPaSSplus. This move aligns with the National Payment Systems Act and signifies a more inclusive national payment system, allowing nonbank financial institutions to conduct efficient and low-risk funds transfers directly through the central bank. Assistant Governor Mary Anne P. Lim emphasized the BSP's commitment to safeguarding the entire Peso RTGS payment system amidst global trends of diversified participation. With 236 institutions, including various banks and nonbank entities, utilizing PhilPaSSplus for large value transactions and retail payment clearing, the BSP's initiative reflects a broader trend of central banks facilitating direct access for nonbank entities to settlement services. This development comes as international standard-setting bodies work on access guidelines to manage risks in evolving payment systems with new players and financial technologies......»»
Beermen, Gin Kings go for Last 8 clincher
San Miguel Beer attempts to get on the next rung of what coach Jorge Gallent dubbed as their step-by-step mission in the PBA Philippine Cup......»»
House moves closer to Cha-cha goal after 6 hearings
The House of Representatives, meeting as a whole committee, took a significant step towards Charter change (Cha-cha) by approving Resolution of Both Houses No. 7 (RBH 7) on Wednesday. This step is similar to endorsing a committee report. House leaders anticipate the next stage, the approval on second reading, to occur next Wednesday or before.....»»
Winning is just the first step
Winning is just the first step, avoiding the obstacles and landmines will be the next......»»
Waikato MoU reinforces Govt s commitment to increase NZ doctors
The Government has taken an important step forward in addressing a critical shortage of New Zealand-trained doctors, with today's signing of a Memorandum of Understanding for a third medical school, Minister of Health Dr Shane Reti has announced. "Today's signing by the Ministry of Health and the University of Waikato is a big step forward," Dr Reti says."The Ministry.....»»
‘SecuRE Negros step in right direction’
‘SecuRE Negros step in right direction’.....»»
Stocks move in step with Asia-wide rally
Local stocks recovered yesterday, moving in step with Asian peers, ahead of US inflation data that could influence the Federal Reserve’s thinking on rate cuts, while the crypto world got a boost after exchange-traded funds to track Bitcoin were approved in the United States......»»
Only 1 percent of Philippine firms ready for cyberthreats
Software giant Cisco has found that almost every company in the Philippines is not ready to fend off new forms of cyberattacks......»»
Security Council warns of foreign interference in 2025 polls
There may be foreign interference in next year’s midterm elections and the Department of Information and Communications Technology should prepare to counter cyberattacks, the National Security Councilwarned yesterday......»»
Marcos calls warships, cyberattacks in WPS worrisome
He, however, stressed that these developments would not deter the government from “[defending] our territory and [continuing] to support all our fishermen who make their living from these fishing grounds.”.....»»
Microsoft, OpenAI: Hackers Using ChatGPT for Cyberattack Improvements
Hackers are leveraging ChatGPT’s AI technologies to enhance cyberattacks, according to recent findings by Microsoft and OpenAI. In a joint research effort, the two tech giants have identified instances of malicious actors from various countries utilizing large language models (LLMs) for refining their tactics and improving their cyber offensive capabilities. In a blog post today, […].....»»
DICT, Asia-Pacific team probe cyberattacks on government websites
The Department of Information and Communications Technology is coordinating with the Asia-Pacific Computer Emergency Response Team in an effort to investigate the cyber attack attempts on government websites and domains originating from China, according to a ranking DICT official......»»