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Oct 22 2020 UnionBank Talks Digitizing Corporate Clients in the New Normal at 5th E-TalkTales
Last October 20, Union Bank of the Philippines (UnionBank) held the fifth installment of its E-TalkTales series wherein Head of Transaction Banking Mon Duarte discussed the Bank’s various transaction banking solutions, particularly The Portal, its all-digital banking platform for corporate clients.
Duarte began the discussion by differentiating UnionBank’s Transaction Banking solutions, which he defined as simply…
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Oct 21 2020 Diokno discounts BSP digital currency issuance
A central bank digital currency (CBDC) will not materialize in the Philippines within the term of Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno, which is until 2023.
“I don’t think so. Most central banks said they will not issue CBDC within the next five years. So not within my term,” Diokno said in a virtual…
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Oct 21 2020 Firms need to embrace sustainability for survival
BUSINESSES must embrace sustainability to survive amid the so-called new normal, experts said on Wednesday.
Department of Trade and Industry-Export Marketing Bureau (DTI-EMB) Director Senen M. Perlada said companies should adapt to the new global economy which is becoming digital, green and circular. Failure to do so, he said, would result in the closure of business.
“The…
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Oct 21 2020 SM Group to help entrepreneurs survive coronavirus pandemic
SM INVESTMENTS Corp. (SMIC) is launching a support program for micro-, small-, and medium-sized enterprises (MSMEs) as it highlights the need to assist small businesses within its ecosystem to survive the coronavirus pandemic.
Timothy Daniels, investor relations consultant for the listed conglomerate, said during a BusinessWorld webinar on Wednesday that SMIC is giving MSMEs financial and…
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Oct 21 2020 Google PH launches free listing of products for MSMEs
Google Philippines now allows businesses to list their products on the Google Shopping tab for free to help micro, small, and medium enterprises (MSMEs) recover.
Bernadette Nacario, Google Philippines country director, said in a Google online event Wednesday that this is part of Google’s initiatives to help Filipino businesses bounce back amid the Covid-19 pandemic.
With the…
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Oct 21 2020 Data must justify interest rate cap on loans, says BSP
AN industry-wide study is needed to determine the ceiling of interest rates charged by nonbank financial institutions, such as mobile lending platforms, on borrowings, the Bangko Sentral ng Pilipinas (BSP) said.
BSP Financial Inclusion Group OIC Rochelle D. Tomas, in a webinar hosted by Home Credit Philippines on Wednesday, said the Central Bank is doing an…
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Oct 20 2020 BSP cites surge in online payment accounts for easy access to gov’t aid
MILLIONS OF new accounts have been opened with financial institutions to facilitate the receipt of government aid, mainly the Social Amelioration Program (SAP), but also to enable users to make digital payments and access credit during the pandemic, the central bank said.
“The COVID-19 pandemic actually induced a change in behavior in our consumer. Four million…
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Oct 20 2020 Motorists welcome RCBC, DiskarTech power to reload EasyTrip, AutoSweep
Nothing is more annoying for a motorist is to realize that you have zero balance or low balance in your electronic pass. The hassle and stress of being apprehended or asked to transfer to another booth because you don’t have enough balance is also an embarrassing experience. Apart from the fact that you have to…
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Oct 20 2020 Credit score info applications rise during pandemic
Inquiries and requests for credit score information increased significantly during the pandemic as more people apply for loans to help them cope with the crisis.
Lawyer Aileen Amor-Bautista, Credit Information Corporation (CIC) officer-in-charge president and chief executive officer, said inquiries for credit information were only about 10 a week before the pandemic.
“Now, we are getting around…
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Oct 20 2020 BSP’s term facility rates rise
The Bangko Sentral ng Pilipinas (BSP) did not offer anew the 28-day term deposit facility (TDF) Wednesday but oversubscriptions were registered for both the seven- and 14-day facilities.
Data released by the central bank showed that the rate of the shortest tenor rose to 1.8813 percent and the 14-day to 1.9051 percent.
These were at 1.8466 percent…