Posts From Fintech News Philippines

RCBC Introduces New Key Features in Revitalized Mobile App

Yuchengco-led Rizal Commercial Banking Corp. (RCBC) introduced many firsts in its revitalized mobile banking app with enhanced user interface and other new online banking features to optimize digital customer experience. Among these new features include the multi-currency foreign exchange or

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Philippines’ RCBC Registers Over 500% Growth in its Inclusive Digital Finance Initiative

Rizal Commercial Banking Corporation has achieved exponential growth for its mobile point-of-sale (mPOS) implementation generating 515% and 622% year-on-year growth on transaction volume, from US$ 6.5 million in 2018 to US$ 41 million, and on transaction count, from 111,000 to

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RCBC Adopts Philippines’ National QR Code Standard For Interoperable Payment System

Rizal Commercial Banking Corporation (RCBC) announced that it has adopted the national QR (quick-response) code standard that would simplify and facilitate interoperable payment transactions. “This is another milestone in further promoting the government’s National Retail Payment System in accelerating interoperability

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How Philippines’ UnionBank is Reinventing Themselves for a Digital World

UnionBank of the Philippines has been stealing headlines for quite a bit recently with various tech-related announcements. There a lot of bright spots in the Philippines fintech ecosystem even though they are not as heavily reported on as some of

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RCBC Embarks on Digital KYC with LenddoEFL to Onboard Millions of Unbanked Filipinos

Rizal Commercial Banking Corporation (RCBC) has sealed a partnership with LenddoEFL for faster and more convenient financial account opening for Filipinos through an end-to-end digital verification and authentication solution. In Philippines, Know Your Customer (KYC) processes have always required a

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Phillippines’ Central Bank Sets June 2020 Deadline for Industry to Adopt QR Standard

In line with its thrust of ensuring the efficiency of payment systems in support of inclusive economic development, the Monetary Board has approved a policy requiring the adoption of a National Quick Response (QR) Code Standard for payments. The QR

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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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