Technology NEWS

The first-ever cardless teller machine that will work with a QR code was launched last November 11 in the course of the 2022 C-Tech Summit. COOPNET rolled out its Cooperation Network (COOPNET) teller machines (CTMs) to cater for the underserved and less digitized cooperatives and financial institutions. Its QR technology is powered by QRPh, the National QR Code standard in the country regulated by the Bangko Sentral ng Pilipinas (BSP).

The Philippines’ business process outsourcing (BPO) industry continues to thrive, even amidst a global pandemic. In 2021, the sector grew to $29 billion with 100,000 new jobs. Indeed, the BPO industry plays a key role in the country’s road to economic recovery.

During the recently concluded SAP TechEd 2022, SAP has introduced their newest product — SAP Build, their low-code solution to address future problems.

The first-ever digital cooperative summit, aimed at empowering cooperatives through technology, was launched at the inaugural Philippine FinTech Festival (PFF), the regional conference where key technology enablers gathered to discuss the issues, challenges, and best practices in creating an innovative digital system for the cooperative sector.

917Ventures has partnered with worldwide venture capital firm 500 Global to develop and scale 917Ventures’ portfolio companies and ventures. This partnership unlocks more opportunities for growth beyond the Philippines and Southeast Asia. 500 Global aims to support 917Ventures in accelerating startups with exciting potential in the Philippines. Up to 11 startups were selected to participate in an ongoing 10-week accelerator program, with an emphasis on supporting founders in their post-commercialization efforts to unlock the next stage of growth and scale.

As e-Commerce emerges as a vital tool in the country’s economic development, developing this sector becomes a key government priority. And to achieve this, close cooperation between all stakeholders is a must.

A domain name is often the first thing people see about your business. It is your website’s unique address so that users can find your site effortlessly. With that, choosing the right one is crucial and requires careful consideration.

Over 10 percent of RCBC ATM Go’s more than 1,000 merchant partners nationwide are cooperatives. RCBC ATM Go is the Philippines’ first neighborhood handheld mobile device that has the most extensive reach covering all 82 provinces in the country with more than 1,500 terminals. It is RCBC’s bank-agnostic business-to-business last mile digital financial service through partner micro, small, and medium enterprises meant to cater to geographically isolated and disadvantaged areas. Approximately 60 percent of its transactions are cash card withdrawals done by 4Ps Pantawid conditional cash transfer household beneficiaries. On average, ATM Go’s monthly transaction is now close to P1 billion or about P12 billion annually. RCBC ATM Go accepts any Bancnet prepaid or debit ATM card. Its five-year compounded annual growth rate was registered at 85 percent.

The end of the third quarter is such an exciting period. There is much to look back on and yet still several months of potential before the close of the year. Nine months into the Aboitiz Group’s year of Great Transformation and there are countless stories and accomplishments to share. With innovation and a renewed entrepreneurial mindset driving development, Aboitiz is truly on its way to becoming the Philippines’ first Techglomerate.

UBX, the financial technology (fintech) venture studio of the Aboitiz Group, is setting up a foundation that will champion the development of an inclusive Open Finance Framework in the Philippines.

UnionDigital Bank, the digital banking subsidiary of Union Bank of the Philippines, today announced that it has acquired 1.73-M customers, reached US$ 70-M in loan book size, and collected US$ 50-M in deposits from its first four months of operations in the country. UnionDigital Bank has achieved double digit growth in digital loans to mass market communities through ecosystem partnerships powered by UnionBank.

In a recent study that followed the shopper’s journey from discovery to delivery, Lazada found that more than half (57%) of Southeast Asian consumers now use eCommerce marketplaces as search engines to find what they want. This means that tools offered by digital platforms for brands and businesses are critical in building sustainable models for the ecosystem. This gives Lazada the reason to improve solutions to support sellers and partners.

Brankas, a leading Open Finance technology provider, has been appointed by Visa as its first regional partner to provide live access to its Open Data products. For months, the two companies have been collaborating on data and money movement initiatives, where they had been leveraging each other’s expertise in Open Finance, global payments, and data intelligence.

Growsari continues to bridge the gap between financial institutions and sari-sari stores by rolling out Universal PH QR codes, in partnership with Instapay-approved member institutions. Small physical retail sectors have always been underrepresented and underbanked, through Growsari, sari-sari stores can now accept digital payments from their customers (sukis), making them more competitive and leveling the playing field between small and large retail stores.

Kandama now fashions a future in the blockchain and NFT space with its partnership with blockchain firm Tetrix. In keeping with its mission of providing economic opportunities to indigenous women and preserving the tradition of handloom weaving, this partnership will guarantee the authenticity of Kandama’s innovative designs.

Maya, the fastest-growing digital bank and all-in-one money platform, received the SHIELD Trust Award for building exceptional standards of security and trust across its consumer and enterprise ecosystem.

The Philippines’ leading airline, Cebu Pacific, gives everyJuan an early PASSko as it offers its one-of-a-kind travel voucher, the CEB Super Pass, from 10AM on October 10 until October 13, 2022.

A consumer group hailed Grab Philippines’ acquisition of motorcycle taxi firm MoveIt as a welcome development that will help ease the burden of commuters, particularly those in Metro Manila.