Posts From Fintech News Philippines
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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Mobile Wallet GCash Leads in Filipino Market
With more than 5 million downloads from Google Play, GCash is not only one of the Philippines most popular mobile banking apps, it is also one of the cheapest banking services providers, requiring no minimum maintaining balance compared to other
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15 New Philippine Fintech Startups to Watch out for in 2019
Financial technology continues to bring exciting times ahead in the Philippines with the ever-growing emergence of new fintech players that aim to cater to 69 per cent of its adult population that are still unbanked. A report released earlier this
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Philippines’ Digital Lenders Pledge to Weed Out Predatory Behaviour
Members of the FinTech Alliance.ph have agreed to adopt a code of conduct for responsible online lending. This was after 48 online lenders have been cited for alleged unethical collection practices leading to data privacy violation. Over 400 harassment complaints
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RCBC Waiting on Regulator Approval for Its Stablecoin on IBM’s Blockchain
RCBC Bank is currently awaiting regulatory approval to issue its own Philippine Peso-backed cryptocurrency on the newly announced IBM Blockchain World Wire, a real-time global payments network created for regulated financial institutions. RCBC Bank sees this as an opportunity to
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