The Bangko Sentral ng Pilipinas (BSP) has set up a Research Academy that will boost BSP’s readiness to handle, keep track of, and regulate digital currencies and artificial intelligence (AI). “The BSP is looking at the implications of new technologies such as digital currencies and AI on the...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno expects to have two online-only banks with digital bank license to start operation by the second half of 2021, including Overseas Filipino (OF) Bank. Diokno said another two new digital banks with no existing banking license from the BSP...
EDITOR’S DESK Bernie Cahiles-Magkilat The pandemic has given rise to new businesses if not the strengthening of existing ones that are able to pivot and innovate with the use of digital technologies. Some of these businesses are delivery/logistics, micro finance, financial technologies (fintech),...
The Bangko Sentral ng Pilipinas’ (BSP) five-only digital banks is not a long-term limit and can be lifted depending on demand and requirement, according to BSP Governor Benjamin E. Diokno. “At the moment our policy is to consider among applicants the top five banks that we are willing to...
After wiping out all content from its social feeds across Instagram, Facebook, and Twitter, luxury fashion house Bottega Veneta finally debuts its quarterly digital publication: Issue 01. For fashion insiders, this move is rumored to replace Bottega Veneta's social media presence and potentially...
Overseas Filipino Bank (OF Bank), a subsidiary of government-owned Land Bank of the Philippines, has become the country’s first online-only bank after the Bangko Sentral ng Pilipinas (BSP) granted it digital banking license on Maundy Thursday. BSP Deputy Governor Chuchi G. Fonacier, head of BSP...
The pandemic has become the most influential driver of digital transformation and, consequently, global Cloud usage. With total worldwide spend on Cloud services expected to surpass $1 trillion in 2024 according to the International Data Corporation (IDC), performance, availability, and cost of...
A year after the COVID-19 pandemic began, fraudsters from the Philippines are increasing their digital schemes against businesses with 44 percent of consumers been targetted, according to a study. Provisional findings of TransUnion’s recent Global Consumer Pulse Study found that as of March...
Everyone has been affected since the pandemic started spreading around the world. The quarantine protocols that are put in place to halt the spread of COVID-19 in the country have hindered many local farmers from transporting their products to markets and houses. The strict enforcement of...
Following Presidential mandate on reinforced ‘digital readiness’ among government agencies, the Energy Regulatory Commission (ERC) stated it is now at the process of doing all the spadework on it switch to online platforms for key facets of its systems and operations. The power industry...
ShopeePay, an integrated mobile wallet that offers users easy access to digital payment services, now provides Filipino shoppers a more convenient way to top-up their mobile wallets. They can do so at TouchPay automated payment machines (APM) located in over 600 locations nationwide. As more...
The Lucio Tan-controlled Philippine National Bank (PNB) has started to build its digital-only banking business and is scouting for partners, but its president and CEO Arnulfo “Wick” Veloso is still unsure if this could be set up in six months to a year. “We need to finish the business plan...
