Philippines
WWF and UnionBank Team Up for Financial Inclusion in Philippines Using Blockchain
Today the World Wide Fund for Nature (WWF) Philippines, UnionBank of the Philippines, and TX, announced the launch Tracey, an app for fisherfolk that will use blockchain technology for documenting and verifying catch and traceability data. The provided data can then be used by
Read More
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
Read More
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
Read More
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
Read More
CIMB Bank Reaches 1M Customers In New All-Digital Bank Model In The Philippines
CIMB Bank Philippines surpasses their targets for expanding their consumer base in the country, successfully signing up over a million Filipinos to its all-digital mobile banking platform in just 10 months. This makes CIMB Bank Philippines the fastest-growing all-digital bank
Read More
Digital Wallet Corporation Enters Philippines with Fintech Acquisition
Digital Wallet Corporation (DWC) today announced its entry to the Philippines through the acquisition of a licensed remittance and foreign exchange company, Speed Money Transfer Philippines, Inc. (SMTP) with operations in the Philippines and Australia. With this acquisition, SMTP is
Read More
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
Read More
Philippines Cracks Down on Online Lenders
Philippines’ Securities and Exchange Commission issued a statement prohibiting another batch of 13 online lending operators from further engaging in lending activities. The regulator issued an immediate cease and desist to the owners and operators from promoting and facilitating unauthorised
Read More
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
Read More
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
Read More