Some 16 local and foreign business groups have strongly urged for the immediate enactment of the proposed Financial Consumer Protection (FCP) Act, which seeks to protect consumers amidst the growing complexity in financial services, especially digital services. In a statement the business group...
Financial technology (fintech) companies in the Philippines are poised to overtake brick and mortar banks, debt-watcher Moody’s Investors Service said. In a commentary on Thursday, July 15, Joyce Ong, Moody’s analyst said that fintech has “abundant room” for growth in the country as 70...
Tech firm Voyager Innovations raised US$167 million (P8.15 billion) to establish a digital bank via its financial technology arm, PayMaya Philippines (PayMaya). Existing shareholders PLDT Inc., global investment firm KKR and leading Chinese tech firm Tencent participated in the fund-raising, which...
Filipino-fintech company Ventaja International Corp., the government’s pioneer collection partner for overseas Filipino workers’ contribution and payments to pension funds, has announced a complete overhaul of its platform to expand its services to more Filipinos. “The company is overhauling...
PearlPay, a Filipino fintech company, is hoping that over 10 rural banks and micro financing institutions could go live this year using their world-class digital banking solutions. Spark Perreras, PearlPay co-founder and CEO, said during a media roundtable organized by AWS the need to go digital to...
As part of the efforts to boost the Philippines’ agricultural production, the Philippine government should find a way to be able to tap into financial technology (FinTech) in linking farmers with financial services. “If done well, FinTech could be key to increasing agricultural...
The Authority of the Freeport Area of Bataan (AFAB) is joining the digital bandwagon as it shifting focus on attracting financial technology (fintech) firms engaged in blockchain, distributed ledgers and other fintech solutions firms from emerging digital econoImies to locate operations in the...
Multisectoral groups, comprising of 51 largest and widely-represented private sector associations, have urged for the immediate enactment of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill to boost market confidence, save jobs and provide instant relief to businesses’...
Globe Fintech Innovations, Inc. (Mynt), subsidiary of Globe Telecom and operator of mobile wallet GCash, hauled in close to $1 billion investments to date from a private equity fund. ASP Philippines LP, a limited partnership fund managed by investment firm Bow Wave Capital Management, infused new...
Dismayed over the Philippines disaster responses in the recent typhoons, Business groups have urged Filipinos to move in an efficient fashion in partnership with local government units to mitigate the impact of climate change. “We express serious concern about the state of our...
Qatari businessmen are pushing for the planned cooperation on Islamic banking with the Philippines as they looked into collaboration in fintech, agro industrial ventures, furniture manufacturing, renewable energy, and industrial parks development in Mindanao....
The COVID-19 health crisis have shut down workplaces and schools at all levels, banned public gatherings, and for all intents and purposes interrupted normal life as we know it pre-pandemic, especially for adolescents who were not even allowed to leave the house. It was challenging but a...
