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Oct 19 2020 
Bank exec cites lesser need for physical branches
Opening up new bank branches is now less critical compared to before the pandemic since going digital has proven its effectiveness in bringing in more people to be part of the financial system, bank executive said Tuesday.
Ramon Duarte, Union Bank of the Philippines (Unionbank) Transaction Banking and Platform Development head, said he considers investing heavily…
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Oct 19 2020 
FICO Survey Reveals Banks in Philippines Struggling With Digital Identity Authentication
FICO, a global analytics software firm, has released its Identity in Digital Banking Survey, which found that the complexity and cost of validating the identity of digital banking customers are the top pain points for banks in the Philippines.
Almost 50% of respondents surveyed nominated the ‘high level of manual processes to validate customer identities’ as their…
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Oct 19 2020 
BSP eyes credit risk database for MSMEs
MANILA – Micro, small and medium enterprises’ (MSMEs) access to financing are expected to further widen through a statistical reference tool being developed jointly by the Bangko Sentral ng Pilipinas (BSP) and the Japanese government.
“This (database) will lessen the dependence of banks on collateral, hence, increase MSME access to financing,” BSP Governor Benjamin Diokno said .in…
