-
Apr 24 2024 Investors poured over $700 million into Philippine digital banks
By: Philstar
Source: philstarThe Digital Bank Association of the Philippines (DiBA PH) said the country’s six digital banks have attracted significant capital since 2021.
MANILA, Philippines — Global and local investors have poured over $700 million (around P40 billion) into the country’s digital banking sector to support the industry’s growth and potential to reshape the online financial…
-
Apr 22 2024 Another money changer gets license revoked by BSP
By: Philstar
Source: philstarIn a circular letter signed by BSP Deputy Governor Chuchi Fonacier, the regulator said the Monetary Board has cancelled the certificate of registration of Nikko Mart to operate as a remittance and transfer company with money changing and foreign exchange dealing services for serious violation of its deed of undertaking.
MANILA, Philippines — The…
-
Apr 18 2024 PHL gains World Bank’s help in digitalization bid
By: BusinessMirror
Source: businessmirrorTHE World Bank (WB) expressed its support for the Philippine government’s digitalization program to enhance tax administration, assist in the energy and agriculture sectors and facilitate investments in human capital.
A statement issued by the Department of Finance (DOF) last Wednesday announced that Finance Secretary Ralph G. Recto secured the assistance of the World…
-
Apr 17 2024 BSP looking into BPI downtime
By: BusinessWorld
Source: businessworldTHE BANGKO Sentral ng Pilipinas (BSP) is looking into the unscheduled service disruption experienced by clients of Bank of the Philippine Islands (BPI) on Tuesday, a senior official said.
“At this point, the BSP is looking at the root cause of this occurrence,” BSP Deputy Governor Chuchi G. Fonacier said in a Viber message…
-
Apr 16 2024 Filipinos Gain Access to Crypto Education
By: ManilaStandard
Source: manilastandardCoins.ph and Tether, issuer of biggest stablecoin USDT, team up to launch a blockchain education initiative in the Philippines, focusing on Bitcoin, stablecoins, and the crypto industry, as a whole.
“Our collaboration with Tether marks a significant step towards equipping Filipinos with essential knowledge to participate in the growing digital asset economy. This collaboration…
-
Apr 15 2024 Asialink gets P300-million credit line from Taiwan’s Cathay United Bank
By: BusinessWorld
Source: businessworldAsialink gets P300-million credit line from Taiwan’s Cathay United Bank
ASIALINK Finance Corp. has tapped Taiwan’s Cathay United Bank for a P300-million credit line to boost its resources in support of its client expansion plans.“This latest partnership will allow us to sustain growth in our customer base. One of our strengths has always been…
-
Apr 12 2024 SEC Flags eToro as Unauthorised for Investment Offerings in the Philippines
By: FintechNews
Source: fintechnewsT
he Securities and Exchange Commission (SEC) of the Philippines has issued a warning to the public regarding eToro, an online investment trading platform that is not authorised to sell or offer securities in the country. The notice highlights the importance of compliance with regulatory requirements and the risks associated with using unregistered platforms.
eToro,…
-
Apr 08 2024 Digital banks post significant deposit, loan growth in 2023
By: Philstar
Source: philstarIn a statement, the Digital Bank Association of the Philippines (DiBA PH) said the six digital banks operating in the country reported impressive growth last year, outperforming traditional banks in making financial services accessible among most Filipinos.
MANILA, Philippines — The digital banking sector has recorded a significant growth in total deposits and loans…
-
Apr 05 2024 CIMB boosts financial inclusion with Lazada
By: Philstar
Source: philstarMANILA, Philippines — Digital-only commercial bank CIMB Bank Philippines has teamed up with e-commerce platform Lazada Philippines to further advance financial inclusion and digital payments among Filipinos, targeting to onboard 500,000 borrowers within six months.
The partnership will allow the seamless integration of buy now, pay later (BNPL) payments into online shopping, extending credit…
-
Apr 04 2024 BillEase Soars to New Heights in 2023 With US$ 57 Million Revenue, Outperforms Traditional Banks With 47% ROE
By: Indo-Asian News Service
Source: indo-asian news serviceSINGAPORE, April 3, 2024 /PRNewswire/ — BillEase, a leading consumer finance and buy now pay later app in the Philippines, announced exceptional growth in its preliminary unaudited financial report for 2023. The fintech company doubled its revenue to USD 57 million and generated a net income of USD 7…