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Fintech players welcome new digital banking framework as consumers move to virtual realm

ABS-CBN News
Updated as of Nov 27 10:16 PM

Financial technology and digital industry players welcomed the BSP's approval of a digital banking framework, as part of efforts to extend financial services. The Philippine central bank on Thursday approved rules allowing the creation and licensing of digital banks as consumers increasingly turn to the virtual realm for banking. Read more »

AMLC flags surge in ‘suspicious transactions’ in e-payments amid pandemic

ABS-CBN News
Posted at Nov 20 02:24 PM

The Anti-Money Laundering Council (AMLC) on Friday flagged the surge of suspicious transactions amounting to P3.1 billion as more consumers shift to digital banking due to quarantine restrictions brought by the COVID-19 pandemic.   Read more »

Digital-only bank for overseas Pinoys books over 12,000 accounts: DOF

ABS-CBN News
Posted at Nov 11 03:08 PM

The Department of Finance on Wednesday said 12,542 accounts were opened in the Overseas Filipino Bank (OFBank) a digital-only bank that caters to Filipinos working abroad.    Read more »

How smartphones changed the way we bank

Moneymax.ph
Posted at Oct 30 12:05 PM

Smartphones definitely influenced our financial habits in more ways than one. Here are just some of the ways your personal pocket computer did exactly that.    Read more »

Bangko Sentral to lay down rules for ‘digital banks’

Warren de Guzman, ABS-CBN News
Posted at Oct 08 05:31 PM

Digital banks will be different from existing banks as they will offer financial products and services that are processed end-to-end through digital platforms and electronic channels. Read more »

The pivot to digital-first banking

Backbase
Updated as of Oct 07 05:30 PM

As the health crisis continues to bring changes in the world, both good and bad, it has also brought momentum to digital banking. Read more »

BDO digital channels inaccessible on 'substantially' higher volume, says upgrade in progress

ABS-CBN News
Updated as of Sep 30 01:27 PM

BDO Unibank said Wednesday it was taking steps to upgrade its digital banking channels as "substantially" higher volume made it inaccessible.  Read more »

BDO says working on app update for iPhone iOS 14 users

ABS-CBN News
Updated as of Sep 18 02:58 PM

BDO Unibank on Friday said it is working on updating its banking app after Apple iPhone users who upgraded to iOS 14 experienced "issues" with it. Read more »

More gov't agencies, LGUs to accept payments via PayMaya

ABS-CBN News
Posted at Sep 10 03:09 PM

Over 50 government agencies will now accept online payments for transactions, PayMaya said Thursday, as it partnered more agencies to boost cashless and contactless transactions.   Read more »

UCPB extends free fund transfers via InstaPay, PESONet until Dec. 31

ABS-CBN News
Posted at Jul 20 05:37 PM

United Coconut Planters Bank said Monday it would waive fees for fund transfers through InstaPay and PESONet transactions to assist consumers during the coronavirus pandemic. Read more »

BDO 'working hard' to fix digital channels clogged by surge in transactions

ABS-CBN News
Updated as of May 22 08:22 PM

The BSP has urged Filipinos to use digital platforms to transact while on lockdown. The BSP's PesoNet and InstaPay platforms allow bank to bank "cashless" transfers.  Read more »

COVID-19 pandemic propels digital banking in Philippines

ABS-CBN News
Updated as of May 11 11:19 AM

Filipinos are "finally" going to be ready to adapt to 4th industrial revolution due to COVID-19 and the government's national ID is key to making that happen, Unionbank chairman Justo Ortiz said Monday.    Read more »

'High tech, low touch' is new normal as banks see economy through COVID-19

Cathy Yang and Joel Guinto, ABS-CBN News
Updated as of Apr 22 12:20 PM

A self-confessed "old fashioned" boss, Bank of the Philippine Islands President Cezar Consing admits to working in the office instead of at home every other day during the COVID-19 lockdown, as he looked ahead to the new normal when most transactions are done digitally. Read more »

The advantages of digital banking during the COVID-19 quarantine

Moneymax.ph
Posted at Apr 01 04:18 PM

The COVID-19 outbreak is making it harder for everyone to do even the most mundane tasks. Luckily, banking isn’t one of them. Read more »

Coronavirus lockdown spurred 'huge jump' in online banking: RCBC

ABS-CBN News
Posted at Mar 24 03:23 PM

The number of online banking transactions climbed "exponentially" following the coronavirus lockdown in Luzon, an official of Rizal Commercial Banking Corp said on Tuesday.  Read more »

Ant Financial joins Razer, Grab in contest for Singapore digital banking license

Jane Zhang, South China Morning Post
Updated as of Jan 03 09:10 AM

Last June the Monetary Authority of Singapore unveiled plans to grant as many as 5 virtual bank licences to boost competition and innovation. Read more »

Bangko Sentral to ensure security of digital transactions: Diokno

Cathy Yang, ABS-CBN News
Posted at Dec 21 06:44 AM

Digital banking “is safe” Bangko Sentral ng Pilipinas Governor Benjamin Diokno assured the public Friday as the government reviews existing regulations to enable further growth of electronic payments. Read more »

CIMB sees PH market accounting for 5-10% of group bottomline in 5 years

ABS-CBN News
Posted at Dec 04 01:06 PM

Malaysia's CIMB bank expects the Philippine market to contribute around 5 to 10 percent to the group's total bottomline over the next 3 to 5 years. CIMB set up a mobile banking unit in Manila last year and its Philippine CEO believes, as more Filipinos engage in e-commerce, the next thing they will look for would be ways to do banking digitally.    Read more »

Digital bank offers offline branch services via app

ING Bank
Updated as of Aug 02 03:08 PM

Long queues, additional charges, and inflexible operating hours in banks? There is now a solution. Read more »

The future of fully digital banking

Moneymax.ph
Posted at Jun 19 02:15 PM

The banking industry wants to bring banking closer and make access easier to the public. Read more »