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Jul 10 2021 PH fintech market lagging behind despite pandemic boost — Fitch Solutions
The coronavirus pandemic has accelerated mobile banking adoption, but the country’s financial technology market remains “fairly immature,” compared to its neighbors, think tank Fitch Solutions said.
In a report released Thursday, Fitch Solutions said the Philippines needs to step up its mobile banking push as it lags behind neighboring countries with “higher proportions of mobile banking…
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Jul 10 2021 Digital banking sector to grow amid rise in online transactions
THE RISE in online transactions has opened opportunities for digital banking as many Filipinos remain unbanked or underbanked, Fitch Solutions Country Risk & Industry Research said, although the country’s underdeveloped digital infrastructure may limit the sector’s growth.
“The Philippines’ large unbanked population, one of the highest in South East Asia, creates a sizeable market on which…
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Jul 10 2021 Government shift to digital streams increasing
THE Bangko Sentral ng Pilipinas (BSP) reported on Thursday that the government is increasingly shifting to digital streams in terms of its day-to-day transactions and services due largely to restrictions brought about by the pandemic.
BSP Governor Benjamin E. Diokno said transactions using EGov Pay, an e-payment facility for taxes, permits, fees and other government obligations,…