Posts From Fintechnews Philippines

CIMB Philippines Partners with Singapore’s CredoLab to Further Drive Financial Inclusion

CIMB Bank Philippines has partnered with Singapore-based fintech CredoLab to extend financial products to underbanked customers in the Philippines, starting with personal loans. CIMB Bank Philippines uses CredoApp (CredoLab’s white-label mobile application) to instantly score applicants, including “thin-file” customers who

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Philippines’ Regulators Voice Support for Industry Driven TechnoEthics for Digital Lending

Members of FinTechAlliance.ph, an organization of fintech and digital firms have agreed to institutionalize an industry-wide code of ethics and adopt a code of conduct among its Alliance member-companies for responsible online lending. This comes after three online lenders were

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Nearly 300 Arrested in Philippines for Alleged Crypto Investment Scam

227 Chinese nationals were arrested in Pasig City, Philippines, on suspicion of running a crypto investment scam targetting would be investor back in China. This was according to local media, The Inquirer. The 227 Chinese nationals all had Cagayan Economic

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Philippines To Launch Standardised QR Code For Payments Soon

The Philippines is anticipated to launch a standardised QR code for payments by September, according to a report by Philstar. The plan to standardise QR payments in Philippines was first announced by the late BSP Governor Nestor A. Espenilla, Jr

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Philippines’ Fintech Industry Calls for ASEAN Wide Standardised QR

The ASEAN must standardize quick-response (QR) codes for digital payments platforms to facilitate and simplify regional trade. Lito Villanueva, Chief Innovation and Inclusion Officer at Rizal Commercial Banking Corp. (RCBC) and chairman of FinTech Alliance.ph, said that the immediate standardization

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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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Malaysian Bank Secures 500k Customers in 6 Months Thanks to Partnership with Gcash

CIMB Bank Philippines announced that it has garnered 500,000 customers, approximately six months after opening its doors for business in the Philippines. The milestone was reached anchored on a strong proposition of co-creation and partnership between CIMB Bank and GCash,

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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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Philippines’ Regulators Issues New Crowdfunding Rules

Philippines’ regulator, Securities and Exchange Commission (SEC) has released its rules and regulations on crowdfunding as its way of providing certainty in the market so that startups and SMEs can access funding, while the public is given more investment options.

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University of the Philippines Will Launch NFC-Powered ID Cards That Double as a Cashless Payment Card

Soon, students and employees in the University of the Philippines (UP) will say goodbye to the typical barcoded ID cards and instead be given ID cards with radio frequency identification (RFID)/near-field communication (NFC) capabilities. The University has signed a memorandum

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