digital-banks | ABS-CBN News

BPI unfazed by competition with digital banks

ABS-CBN News
Updated as of Aug 22 11:00 AM

The Bank of the Philippine Islands can compete head-to-head with digital banks, its president Jose Teodoro Limcaoco said Monday. Read more »

UnionBank clarifies launch of digital bank will be in Q3 or Q4

ABS-CBN News
Posted at Jul 01 01:29 PM

A UnionBank official earlier said that UnionDigital would launch this month, but the bank issued a statement on Friday that the launch would be in the third or fourth quarter. Read more »

UnionBank eyes July launch of digital bank UnionDigital

Jessica Fenol, ABS-CBN News
Updated as of Jun 28 02:16 PM

UnionBank on Tuesday said it is eyeing the launch of its digital bank UnionDigital this coming July. Read more »

UNO Digital Bank partners with Mastercard ahead of launch

ABS-CBN News
Posted at Apr 06 04:12 PM

NO Digital Bank said on Wednesday it partnered with Mastercard ahead of the planned rollout of its digital banking services in the country. Read more »

Up to 24 'gives': GCash gets buy now pay later feature

ABS-CBN News
Updated as of Mar 09 05:11 PM

The new feature called GGives allows qualified users to pay for items costing as much as P30,000 with up to 24 installments. Read more »

BSP says digitalization seen to ease inflation

Jessica Fenol, ABS-CBN News
Posted at Jan 18 11:34 AM

The wider adoption of digital payments in the country is seen to reduce costs of production and distribution for businesses, the Bangko Sentral ng Pilipinas said. Read more »

Digital banks to help drive economic recovery, says BSP

ABS-CBN News
Posted at Nov 03 11:17 AM

Digital banks, along with traditional banks, can boost the country's pandemic recovery, the Bangko Sentral ng Pilipinas said Wednesday, as it pushes for a "tech-savvy" economy. Read more »

Volume of digital payments hit 20 percent in 2020: BSP

Jessica Fenol, ABS-CBN News
Posted at Oct 08 12:03 PM

The volume of digital payments in 2020 reached 20 percent, hitting the Bangko Sentral ng Pilipinas' target for the year, the central bank said. Read more »

9 applicants vying for last digital bank slot

Warren De Guzman, ABS-CBN News
Posted at Sep 28 04:04 PM

Nine applicants are vying for the last digital bank license, the Bangko Sentral ng Pilipinas said Tuesday. Read more »

Businesses more pessimistic in Q3: BSP survey

Warren De Guzman, ABS-CBN News
Posted at Sep 24 06:08 PM

Businesses have turned pessimistic while consumers' outlook was less pessimistic as shown in the latest business and consumer expectation surveys. Read more »

GCash, BPI to work closer amid digital competition: JAZA

Warren de Guzman, ABS-CBN News
Posted at Sep 24 04:34 PM

Jaime Augusto Zobel de Ayala said GCash and BPI have been instrumental in each others’ success and this collaboration will become more apparent over time. Read more »

BSP to stop accepting digital bank applications Aug. 31

ABS-CBN News
Updated as of Aug 19 05:06 PM

The monetary board will stop accepting applications for digital banks by Aug. 31, the Bangko Sentral ng Pilipinas said Thursday. Read more »

COVID reverses reluctance in online banking: JP Morgan

ABS-CBN News
Posted at Aug 10 11:45 AM

The COVID-19 pandemic has accelerated the growth of online financial services, reversing the reluctance of both banks and the consumers in the previous years, J.P. Morgan's Co-head of Asia for Financial Research Harsh Modi said Tuesday. Read more »

Gokongwei group, UnionBank plan to launch own digital banks: BSP

ABS-CBN News
Posted at Jun 14 11:11 AM

The Gokongwei Group and UnionBank of the Philippines have also applied for digital banking licenses under the new framework of the Bangko Sentral ng Pilipinas, BSP Gov. Benjamin Diokno said Monday.   Read more »

New digital bank Tonik offers time deposit interest up to 6 percent

Jessica Fenol, ABS-CBN News
Posted at Mar 18 05:53 PM

Newly-launched all-digital bank Tonik said it is offering a time deposit interest rate of up to 6 percent and savings account interest rate of up 4.5 percent. Read more »

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 »

BSP recognizes 'digital bank' as new bank category

ABS-CBN News
Posted at Nov 27 01:09 AM

The Bangko Sentral ng Pilipinas' (BSP) Monetary Board has officially recognized "digital bank" as a new bank category, in line with its Digital Payments Transformation Roadmap which seeks to streamline financial technology in the country.   Read more »

Cash cards for kids - digital banks race to capture the next generation

Anna Irrera and Iain Withers, Reuters
Posted at Nov 19 09:36 AM

While traditional banks have long offered basic savings accounts to children, fintechs say they have spotted an opportunity to offer better, slicker apps to tech-savvy kids and teenagers, who they say have been under-served. Read more »

Bangko Sentral urges thrift banks to leverage 'limitless' potential of digital tech

ABS-CBN News
Posted at Oct 13 12:07 PM

Bangko Sentral ng Pilipinas Gov. Benjamin Diokno said Tuesday thrift banks should take advantage of the "limiteless" potential of digital technology including cloud banking.    Read more »

Proposed measure regulating virtual banks to 'level playing field': BSP

ABS-CBN News
Updated as of Sep 09 03:43 PM

The Bangko Sentral ng Plilipinas said it welcomes the Virtual Banking Act seeking to establish a regulatory framework for virtual-only banks as it will 'level the playing field'. Read more »