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News and Events

Only 3% of Filipino Adults Invest in Bonds, Funds and Stocks, Says BSP

Those without investments cite unemployment as the main reason

Attend any financial wellness seminar or read any article on growing wealth, and one of the first concepts promoted is the difference between saving and investing. While saving money allows it to be stored and accessed easily, investing money allows it to ...

by Lorenzo Kyle Subido  | August 02, 2018 08:00:00
News and Events

Freedom from Debt? Filipinos With Loans Plunge to 22.3% in 2017 from 47.1% in 2015

Almost half of borrowers needed the extra money for daily needs while almost a third used it for business

Perhaps it’s because of the improving economy, rising household incomes or fewer borrowing options in light of the government’s crackdown on informal lending schemes.Whatever the reason, the proportion of Filipino adults with outstanding loans more than halved from 2015 to 2017, according ...

by Lorenzo Kyle Subido  | July 16, 2018 06:00:00
News and Events

From Sari-Sari Store ATMs to Blockchain-Powered Remittance: RCBC Displays Knack for Fintech

The country's 10th biggest lender is rolling out several technological firsts in the banking industry

RCBC ePiso is the country’s first digital fiat currency, which clients can use to access financial services without the need to open and maintain a bank account“If you’re talking about financial inclusion, necessarily you have to talk about digital banking.”Those were the introductory ...

by Lorenzo Kyle Subido  | July 16, 2018 09:00:00
News and Events

Mirroring Giant Telcos: Is a Duopoly Emerging in Digital Payments Too?

A BSP study uncovers the electronic money issuers leading the race for consumer awareness

Only 1.3 percent of the country’s adult population, which translates to around 900,000 Filipino adults, have an electronic money (e-money) account, according to the Bangko Sentral ng Pilipinas (BSP).In its 2017 Financial Inclusion Survey, the BSP defines e-money accounts as “a transactional ...

by Lorenzo Kyle Subido  | July 13, 2018 01:00:00
News and Events

Rural Banks, Too, Suffer From Financial Exclusion. Is Blockchain the Solution?

UnionBank rolls out Project i2i, which seeks to integrate rural banks into ATM and payments networks

Last May 22, UnionBank officially launched Project i2i in a press conference in Davao City. Heading the event were (from left): Amor Maclang, co-founder of GeiserMaclang; Tanya Hotchkiss, executive vice president of Cantilan Bank; Justo Ortiz, chairman of UnionBank; and Ramon Vicente ...

by Lorenzo Kyle Subido  | May 29, 2018 12:00:00
News and Events

Fintech Startup Plans to Offer Blockchain-Powered E-Wallets to A Million Seafarers, OFWs

TraXion is also holding an initial coin offering to raise up to $55 million in virtual currency

Financial technology startup TraXion is launching an initial coin offering (ICO) that aims to raise up to $55 million worth of virtual currency through the sale of 250 million TraXion tokens or TXN.These utility tokens will grant TXN holders access to TraXion’s ...

by Lorenzo Kyle Subido  | May 21, 2018 09:00:00
News and Events

How Fintech Turned 1,800 Micro Businesses into Financial Agents, Boosting Their Income by Up to 30%

Grameen Foundation’s CAN program aims to promote financial inclusion within low-income communities

Panelists at the launch of the Grameen Foundation's CAN program’s insights report last April 12According to the latest report on financial inclusion by the Bangko Sentral ng Pilipinas (BSP), 571 local government units (LGUs) were considered “unbanked” or lack any form of ...

by Lorenzo Kyle Subido  | April 24, 2018 09:00:00
News and Events

Php100 Initial Deposit and Zero Maintaining Balance: How the BSP Plans to Promote Banking Among the Masses

The so-called basic deposit account will also entail less stringent identification requirements

The Bangko Sentral ng Pilipinas (BSP) has released a new circular outlining its rules and regulations on basic deposit accounts, a type of savings account with less stringent requirements with the aim of making it more accessible to the 86 percent of ...

by Lorenzo Kyle Subido  | February 07, 2018 10:00:00
News and Events

Grab Ties Up with Samsung to Bring Micro-Financing Opportunities to Over 2.3 Million Drivers

Drivers will be able to secure micro-loans to easily purchase their own smartphones

Lee Sangchul, president and CEO of Samsung Electronics SEA and Oceania, and Anthony Tan, Group CEO and Co-founder of Grab, shake hands after signing MOUSoutheast Asian ride-hailing platform Grab has teamed up with Korean electronics giant Samsung to provide a variety of ...

by Lorenzo Kyle Subido  | February 02, 2018 06:00:00
News and Events

'Sachet' Banking: Will Php20-Savings Accounts Reduce the 86% of PH Households That Are Unbanked?

The online platform from PLDT’s fintech unit will be available in over 1.2 million sari-sari stores

In the near future, neighborhood sari-sari stores will turn into bank tellers where people can deposit their hard-earned money in small installments.FINTQ, the financial technology unit of PLDT Inc., has begun rolling out microfinance products under the KasamaKA brand that gives banks ...

by Lorenzo Kyle Subido  | January 22, 2018 10:00:00
Run & Grow

Why Sun Life’s Riza Mantaring Wants to Triple PH’s Top Insurer’s Clients to 5M in 5 Years

CNBC’s Asia Talent Management Awardee for 2017 wants to move from success to significance

What does it take to reach five million people?That’s the question that has been at the top of Rizalina Mantaring’s mind since 2016, when life insurance firm Sun Life Financial Philippines, which she helms as president and CEO, launched a new five-year ...

by Lorenzo Kyle Subido  | November 09, 2017 10:00:00
News and Events

GCash, PayMaya Move Closer to Emulating Jack Ma's Cashless Payment System for PH

The two leading mobile wallets launched scan-to-pay features to ease payments for brick-and-mortar retailers

The country’s two leading telco-powered mobile wallets, Smart Communications’ PayMaya and Globe Telecom’s GCash, rolled out a new “scan to pay” feature that allows users to scan quick response (QR) codes with their smartphones in order to pay for products and services ...

by Lorenzo Kyle Subido  | October 25, 2017 03:00:00
News and Events

PLDT Fintech Unit’s Referral Program Helps You Earn from Your Wide Circle of Friends

Each successful referral can earn you Php300 per customer of FINTQ’s loans, investment or insurance products

PLDT fintech unit FINTQnologies Corp., together with the Bangko Sentral ng Pilipinas (BSP), launched the KasamaKa Community and Income Builder Program last September 7, with the aim to make financial services accessible and affordable to the country’s unbanked population.Interested individuals can apply ...

by Lorenzo Kyle Subido  | September 07, 2017 11:00:00
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