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THE PHILIPPINE Deposit Insurance Corp. (PDIC) wants to introduce a risk-based assessment system to prevent banks from taking on too much leverage following the increase in the maximum deposit insurance coverage (MDIC).

“Presently, we only have one premium assessment, the flat…

There are only a few things in the world that are more costly than downtime.

Research indicates that large organisations can lose up to USD $9,000 per minute during system outages, with high-risk industries like finance and healthcare facing potential losses…

THE BANGKO SENTRAL ng Pilipinas (BSP) said it is working to ensure that the country will not return to the Financial Action Task Force’s (FATF) “gray list,” citing the need to crack down on digital technology threats.

“Just because we are…

The Philippines Securities and Exchange Commission (SEC) is struggling to combat investment scams that utilise deepfake technology.

SEC Chairperson Emilio B. Aquino highlighted the difficulty, stating, “Everything is fake. It’s very difficult to discern if it is true or not.”

He emphasised…

Visa and the Philippine Postal Corporation (PHLPost) have formed a partnership to broaden financial services and access, particularly for Filipinos in remote areas.

This collaboration aims to modernise PHLPost’s essential services, including remittances, money orders for overseas Filipino workers (OFWs), and…

THE BANKERS Association of the Philippines (BAP) wants to open the peso interest rate swap (IRS) market to offshore investors as the platform continues to be developed.

Citi Philippines Country Head and Chief Executive Officer and BAP Open Market Committee Chairman…

PHILIPPINE BANKS may continue to post record-high net incomes this year as robust economic growth is expected to spur lending.

“We expect another record year for banks given the accelerating domestic economy, loan growth pickup and robust expansive balance sheets of…

MANILA, Philippines — GCash spent a meaningful 2024, reaping accolades from prestigious international award-giving bodies for its efforts in digital financial inclusion, sustainability and women empowerment—among many other game-changing innovations that help uplift the lives of the 94 million Filipinos…

Taguig City, Philippines – The country’s leading and largest digital industry association, Fintech Alliance PH, officially welcomed its newest members during an oath-taking ceremony led by Bangko Sentral ng Pilipinas (BSP) Deputy Governor Mamerto “Mert” Tangonan at the Digital Industry…

Most of these institutions use Philippine Peso (PHP), while there are some in American Dollar (USD). However, there are quite a few organisations that do not impose any transfer fees.
The Philippines’ banking sector is made up of various financial institutions,…