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Banked Filipinos hit 53 pct amid digitalization, pandemic

Wena Cos, ABS-CBN News
Posted at Dec 23 06:55 PM

The BSP's push for financial inclusion made big gains during the pandemic as the number of banked Filipinos hit 53 percent this year from just 29 percent in 2019. Read more »

GCash not keen having own digital bank

Art Fuentes, ABS-CBN News
Posted at Nov 15 08:54 PM

GCash said it has no plans of applying for a digital banking license like its main competitor as it prefers to remain a platform for other financial institutions. Read more »

Tala raises $145M to fund expansion plans

ABS-CBN News
Posted at Oct 22 01:46 PM

Financial technology firm Tala has raised a total of $145 million in funding which would be used for its expansion plans globally, its founder and CEO Shivani Siroya told ANC on Friday. Read more »

Satellite tech seen to boost financial inclusion: BSP

ABS-CBN News
Posted at Oct 14 11:49 AM

The Bangko Sentral ng Pilpinas said Thursday the implementing rules for the expanded access to satellite technology could accelerate financial inclusion and digital finance in the country. Read more »

Digitalization boosts PH financial inclusion

Warren De Guzman, ABS-CBN News
Posted at Sep 16 05:21 PM

There has been a “significant growth” in financial inclusion in the country driven by pandemic-fueled digitalization, the BSP chief says. Read more »

BSP, French Development Agency ink P41-M grant

ABS-CBN News
Posted at Sep 16 04:03 PM

In a statement, the BSP said it signed a grant facility agreement worth 700,000 Euros (around PHP 41.3 million) with the Agence Française de Développement (French Development Agency) to increase capacities for financial inclusion, especially among rural and women-owned enterprises. Read more »

BPI CEO wary of Delta variant but says 'worst is over' for banks

Bruce Rodriguez, ABS-CBN News
Posted at Aug 02 09:21 PM

The worst effects of the COVID-19 pandemic may be over for the Philippine banking sector, but the spread of the Delta variant still presents uncertainties, the head of Bank of the Philippine Islands said on Monday.    Read more »

PayMaya says users doubled to 38 million in 1.5 years

ABS-CBN News
Posted at Jul 06 07:08 PM

PayMaya doubled its users in the past 18 months to 38 million as it continues to expand its partnership with various government agencies and businesses, the company said on Tuesday. Read more »

House panel OKs bill letting workers choose bank account for payroll

RG Cruz, ABS-CBN News
Posted at Jun 14 08:24 PM

A panel of House lawmakers on Monday approved a bill seeking to allow private sector employees to choose the bank account where their wages may be deposited.  Read more »

Overseas Filipino Bank, 3 others vying to be digital banks: BSP

Warren de Guzman, ABS-CBN News
Posted at Apr 29 05:19 PM

Four banks, including a state-run firm, are currently applying for digital banking licenses, the Bangko Sentral ng Pilipinas said Thursday, as digital transactions continue to grow in the country.    Read more »

BPI unveils new saver plus account after changes in Maxi-Saver policy

ABS-CBN News
Updated as of Apr 17 01:08 PM

The Bank of the Philippine Islands said Friday a new type of savings account would be available in June with a maintaining balance of P50,000.  Read more »

Expanded access to satellite technology to boost digitalization in PH: BSP

Bruce Rodriguez, ABS-CBN News
Posted at Apr 15 06:10 PM

The Bangko Sentral ng Pilipinas said Thursday the measure meant to expand internet providers' access to satellite services will "contribute" to its financial inclusion and digitalization goals. Read more »

New fees to push banks to set up more ATMs in provinces: BSP

Bruce Rodriguez, ABS-CBN News
Posted at Apr 08 06:14 PM

The Bangko Sentral ng Pilipinas (BSP) said the new fee system for ATM services can help push banks to install more units in the provinces. Read more »

Bangko Sentral expects loan costs to go down for microentrepreneurs

Bruce Rodriguez, ABS-CBN News
Posted at Mar 18 07:21 PM

The Bangko Sentral ng Pilipinas said it expects the borrowing costs of microentrepreneurs to fall in step with record low benchmark interest rates as well as innovations that can help lower the costs of microfinance institutions. Read more »

RCBC says DiskarTech app users 'more than doubled' daily deposits in January

ABS-CBN News
Posted at Mar 02 01:46 PM

Rizal Commercial Banking Corp on Tuesday said its digital savings account DiskarTech "more than doubled" its daily deposits in January.  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 »

Bangko Sentral expands distribution channels for Unit Investment Trust Funds

ABS-CBN News
Posted at Sep 23 03:08 PM

The Bangko Sentral ng Pilipinas said Wednesday it approved guidelines that would expand the distribution channels for Unit Investment Trust Funds (UITFs) in a bid to promote financial inclusion.   Read more »

AgriNurture acquires majority stake in fintech firm Pay8

ABS-CBN News
Posted at Jul 21 02:27 PM

AgriNurture, the listed agribusiness firm of businessman Antonio Tiu, disclosed to the stock exchange on Tuesday that it is acquiring a majority stake in fintech firm Pay8 from HatchAsia. Read more »

E-money pushes more Pinoys to get accounts in banks, other financial institutions

ABS-CBN News
Posted at Jul 16 05:40 PM

The Bangko Sentral ng Pilipinas said Thursday the country made significant progress in financial inclusion as 5 million more adult Filipinos now had accounts in banks, e-money issuers and microfinance institutions as of March this year compared to 2017. Read more »

'Premyo Bonds' prize pool increased after nearly P5 billion raised

ABS-CBN News
Updated as of Jan 06 09:34 AM

A total of P4.5 million will be raffled off every quarter from the initial P3 million. There will be 1 winner of P1 million per raffle. The Treasury sold nearly P5 billion in "Premyo Bonds" compared to the initial issue size of P3 billion. Read more »