On July 23, 2024, a few days before Super Typhoon Carina hit the country, the Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG) took a monumental step towards creating a digital economy by launching the “Paleng-QR Ph Plus” program in Mabalacat City, Pampanga. The launch event, held in […]
In a country frequently battered by typhoons, floods, and earthquakes, having a robust calamity fund is not just advisable — it’s essential. As the Philippines continues to face natural disasters, Mocasa, the Philippines’ pioneering virtual credit wallet, is dedicated to helping Filipinos prepare for the unexpected with practical advice on establishing and managing a calamity […]
In a recent media advisory, the Bangko Sentral ng Pilipinas (BSP) announced that the Philippines has successfully met its ambitious target of digitalizing half of its retail payments and is now on the right track towards achieving its goal of being a cashless economy. As of 2023, an impressive 52.8 per cent of monthly retail […]
The Development Bank of the Philippines (DBP), a state-owned institution, has recently been lauded by a prestigious international body for its innovative financing facility to propel the renewable energy sector, according to one of its top officials. In a press release, DBP President and CEO Michael O. de Jesus announced that the Association of Development […]
According to the Bangko Sentral ng Pilipinas (BSP)’s Report on E-Payments Measurement “Traversing New Heights: The Future is Digital,” the share of digital payment transactions (e-payments) in the Philippines has surged from 42.1% in 2022 to 52.8% in 2023. A mobile phone with the Mocasa app that’s being used to conduct e-payments in a coffee […]
Rizal Commercial Banking Corporation (RCBC), one of the Philippines’ leading banks, is anticipated to encounter a significant rise in bad loans over the next 12 to 18 months as it accelerates its growth into riskier retail loans, according to Moody’s Ratings. Facade shot of the RCBC Ayala Alabang branch in Muntinlupa The rating agency has […]
The Bangko Sentral ng Pilipinas (BSP) recently welcomed the passage of Republic Act No. 12010 or the “Anti-Financial Account Scamming Act” (AFASA), which aims to combat financial cybercrimes, safeguard the interests of financial consumers, and uphold the integrity of the country’s economic system. Financial cybercrime or the act of obtaining financial gain through profit-driven criminal […]
In an impressive display of growth and customer satisfaction, GoTyme Bank has established itself as the Philippines’ fastest-growing digital bank, based on new customer acquisitions per month and transactional growth. IMAGE CREDIT: https://www.gotyme.com.ph/ In the first half of 2024 alone, GoTyme Bank welcomed 1.7 million new customers, averaging 250,000 new customers each month. This remarkable […]
Several major banks in the Philippines experienced significant outages recently due to a sweeping technical glitch caused by the cybersecurity software ‘Falcon Sensor.’ This disruption, part of a global IT meltdown, caused widespread inconvenience for customers worldwide and highlighted the vulnerability of interconnected digital systems. The global IT meltdown caused by ‘Falcon Sensor’ exposed vulnerability […]
Chinabank’s exceptional performance and strategic achievements were celebrated at the prestigious Asian Banking and Finance (ABF) Awards 2024, held earlier this month at Marina Bay Sands in Singapore. The bank received the distinguished title of Domestic Retail Bank of the Year-Philippines and secured two additional honors: Debt Deal of the Year-Philippines and IPO Deal of […]
