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This Pinoy company is making an impact through financial technology
“We started by looking at transforming and [digitizing] rural banks. Along the way we discovered a number of pain points, one of which is how to improve their credit process.” Tapiador said......»»
CARD Inc. Medical Services opens in Tanauan, Leyte
CARD, Inc. - CARD MRI’s Microfinance and Health Protection (MaHP) opens a clinic and laboratory facility that offers medical services in Tanauan, Leyte on October 5, 2023......»»
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......»»
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......»»
PhlPost partners with USAID on e-commerce initiatives
Recognizing the potential of the Philippine Postal Corp. (PhlPost) as an important partner in expanding e-commerce, even in rural areas, the United States Agency for International Development Philippines is extending its technical assistance through its Strengthening Private Enterprises for the Digital Economy Activity. The initiative aims to help PhlPost develop its digitalization roadmap as part of its modernization program. .....»»
Landbank eyes digital expansion
State-run Land Bank of the Philippines is targeting to reduce over-the-counter transactions as it moves to expand its digital services for customers......»»
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......»»
Navigating the Ticketing Maze: Evaluating Digital and Hard Copy Tickets for Performances and Athletic Events
The ticketing landscape for concerts and sporting events has changed significantly in the era of digital innovation, giving customers the option of digital or physical.....»»
Banks’ bad loans rise in February
The soured loans of Philippine banks picked up for the 14th straight month in February, bringing the gross non-performing loan ratio to a steady 3.44 percent, amid high interest rates......»»
Indian banking sector continues to improve with better asset quality, high credit growth: Survey
New Delhi [India], March 21 (ANI): The health of the Indian banking sector continues to improve with better asset quality and high credit growth, a survey conducted by industry body FICCI and banking association Indian Banks' Association (IBA) showed. The eighteenth round of the survey was carried out for the period July to December 2023. Those banks that were surveyed together represent about 77 per cent of the banking i.....»»
Moody’s outlook: Philippine banks remain on stable footing
Moody’s Investors Service has maintained a stable outlook for Philippine banks as interest rate cuts from the Bangko Sentral ng Pilipinas this year are seen to support economic recovery......»»
‘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......»»
Digital times call for digital measures
The Bureau of Internal Revenue has recognized the undeniable rise of digital commerce in the Philippines by promulgating Revenue Regulation16-2023, issued on Dec. 21, 2023, and Revenue Memorandum Circular 08-2024, issued on Jan. 15, 2024, respectively......»»
More banks keen on green financing – BSP
More banks in the Philippines have expressed interest to finance green and sustainable projects in the country amid the need to fund efforts that would mitigate impacts of climate change......»»
Fitch keeps credit rating of 5 Philippine banks
Fitch Ratings has affirmed the credit rating of five of the country’s biggest banks and kept its stable outlook, on the back of a likely robust economic growth over the next two years......»»
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......»»
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......»»
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......»»