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ADB approves 655,000 USD to help Philippine rural banks digitization
MANILA, Feb. 19 (Xinhua) -- The Asian Development Bank (ADB) on Monday said it will provide grants totaling 655,000 U.S. dollars for the digitization of nine rural banks and a bank consortium in the Philippines. The grants are part of ADB's Fintech for Inclusion Transformation (FIT) program. The grant awardees were chosen from among rural banks nationwide serving women, farmers, fisherfolk, and micro, sma.....»»
ADB approves 655,000 USD to help Philippine rural banks digitization
MANILA, Feb. 19 (Xinhua) -- The Asian Development Bank (ADB) on Monday said it will provide grants totaling 655,000 U.S. dollars for the digitization of nine rural banks and a bank consortium in the Philippines. The grants are part of ADB's Fintech for Inclusion Transformation (FIT) program. The grant awardees were chosen from among rural banks nationwide serving women, farmers, fisherfolk, and micro, sma.....»»
The Importance of Still Keeping Loose Change
In the Philippines, the convenience of digital payments is quickly becoming the norm. There are now fewer lines to the ATMs every payday, people are now using their phones more for payments, and digital banks are becoming more prevalent. Amidst the digital transformation the country is undergoing, we often hear “I don’t have cash” from […].....»»
Public sector banks doing better in managing NPAs vis-a-vis their private counterparts: FICCI-IBA survey
New Delhi [India], March 21 (ANI): Public sector banks in India are doing better in comparison to their private sector counterparts in terms of non-performing assets, a survey conducted by industry body FICCI and banking association Indian Banks' Association (IBA) found. A nonperforming asset refers to loans or advances that are on the brink of default. According to the survey, a large majority (77 per cent) of the respon.....»»
Should You Bite on Digital Credit Line Offerings?
Digital credit lines have become a prevalent offering for digital platforms like digital banks and online shopping apps. These readily available lines of credit, often so accessible, can be tempting, especially for unexpected expenses. But before you hit “apply,” it’s crucial to weigh the pros and cons to determine if a digital credit line aligns […].....»»
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).....»»
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......»»
Nikon acquires Red Digital Cinema, enters professional video market
Nikon Acquires Red Digital Cinema to Enter Professional Digital Cinema Camera Market In a strategic move to expand into the professional digital cinema camera market,.....»»
Minister attending Australian data, digital meeting
Minister for Digitising Government Judith Collins is in Sydney to attend the first Data and Digital Ministers' Meeting of 2024. "This is a great opportunity to connect with our Australian counterparts and identify how we can work together on digital transformation," Ms Collins says. "Both our nations are looking into how advancements like AI and digital iden.....»»
Bizmen eyeing to create power dev t coordinating council
Bizmen eyeing to create power dev t coordinating council.....»»
FEU s Cantela eyeing FIDE Master title
FEU s Cantela eyeing FIDE Master title.....»»
Investors pour over $700 million into Philippine digital banks
Global and local investors have poured over $700 million (around P40 billion) into the country’s digital banking sector to support the industry’s growth and potential to reshape the online financial landscape......»»
Digital banks post significant deposit, loan growth in 2023
The digital banking sector has recorded a significant growth in total deposits and loans in 2023 compared to a year ago, as consumers looked for more accessible and user-friendly financial services......»»
UBS sees 2-digit credit growth for Philippines banks
Banks operating in the Philippines are expected to post a double-digit credit growth this year on the back of robust economic expansion, according to banking giant UBS......»»
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......»»
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......»»
Philippines conducts marine patrols to check presence of Chinese research ships
MANILA (Reuters) – The Philippines on Monday deployed a coastguard vessel to carry out a two-week patrol mission in waters north and east of the country to intensify its maritime presence and check on Chinese research vessels that were spotted in Benham Rise. Benham Rise, which sits off the Philippines’ east coast, is a vast.....»»
Philippines will increase military presence in islands facing Taiwan
MANILA, The Philippines: The Philippines is set to bolster its military presence on islands adjacent to Taiwan, aiming to enhance its territorial defense capabilities, as announced by Defense Secretary Gilberto Teodoro. During his visit to naval facilities on the remote Batanes islands, less than 125 miles from Taiwan, Teodoro instructed the military to increase troop deployments and called for the development o.....»»
Khalil Sanchez ready to conquer Ironman 70.3 Lapu-Lapu
CEBU CITY, Philippines — Khalil Sanchez is eyeing a victorious stint in this Sunday’s Ironman 70.3 Lapu-Lapu following his win in the Bantayan Island Mountain Bikers Mayor’s Cup. Sanchez, 19, dubbed as “Chamba Prince,” is the son of renowned cyclist “Chamba King” Dongkey Sanchez. Khalil first made his presence felt in the cycling world during.....»»
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......»»