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THE only way to come out stronger out of this crisis is to embrace digitization and prevent compromising the country’s growth in the next three decades, according to the World Bank.

In a presentation in a public webinar on Tuesday, World Bank Philippines Senior Economist Rong Qian said the extent of the Covid-19 crisis has far-reaching…

In the Philippines, the upcoming digital banking framework will trigger a wave of innovation and help address financial exclusion, experts said.

During a recent webinar, experts representing CIMB Bank, RCBC, Finastra and Microsoft, discussed the forthcoming digital banking license, arguing that the entrance of new, tech-driven players will shake up the industry for the better.

Vijay Manoharan,…

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…

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…

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…

IN what appears to be a rare silver lining, the global pandemic has pushed more Filipinos to open bank accounts and do their transactions online, the Bangko Sentral ng Pilipinas (BSP) governor said in a recent speaking engagement.

Central Bank chief Benjamin Diokno said their goal to increase local financial inclusion by 2023 may have been…

Lenders operating online apps that can be installed in smartphones are prohibited from harvesting personal information, such as phone and social media contact lists, for harassing delinquent borrowers, the National Privacy Commission (NPC) said in a circular it published today, October 19.

The Commission issued Circular No. 20-01 in response to numerous complaints that online lenders…

Mindful of the importance of connectivity at home as COVID-19 pandemic continues to bring uncertainty in the country that prompted the government to enforce community quarantine and observe strict social distancing, Globe reached out to the underprivileged communities and officially launched the School Bus WiFi program in Manila City today.  The kick-off also marks a…

Aiming to reach out to more creators and innovators and provide them an easier way to secure their intellectual property (IP) assets, the IP Office of the Philippines (IPOPHL) launched Monday, Oct. 19,  its very own mobile application it named “IPOPHL Mobiliz.”

“Given that many of us spend most of our time on mobile, this development…

The Financial Inclusion Steering Committee (FISC), chaired by Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno, held its 9th  meeting  on 06 October 2020 via video conferencing facilities. The FISC meeting, attended by high level representatives from 20 government agencies, is a testament to the whole of government approach being employed to drive financial…