Here’s good news for those who have grown accustomed to topping up their e-wallets using their BPI accounts. Just recently, the Bank of the Philippine Islands (BPI) announced that cash-in transactions using GCash will still remain free of charge. This is definitely a welcome development for Filipinos who have since started to adapt to digital […]
The Monetary Board, the policy-making arm of the Bangko Sentral ng Pilipinas (BSP), is proposing that capital requirements for Islamic banks be made similar to conventional banks. Once approved, this figure could range between P3 billion to P20 billion, depending on how many branches would be put up. “No final decision yet. Consultations are ongoing,” […]
Reports circulating on social media about a new Philippine coin series have reached the Bangko Sentral ng Pilipinas (BSP), and it was quick to clarify that no such new issuances have been made. “The Bangko Sentral ng Pilipinas informs the public that it has not released a new Philippine coin series,” a statement from the […]
by Bhea Baarde, Correspondent A number of account holders of ING, The Netherlands-based digital bank, expressed dismay after the firm announced in late June this year plans to close down its retail operations in the Philippines. In a press release, ING announced that it will quit its 4-year-old retail banking business before the end of […]
Union Bank, a publicly-listed universal bank with over 5 million customers, 200 branches, and 7,000 cash-in and cash-out points, has just issued the country’s first-ever offering of Digital Peso Bonds. The move is in line with its vision to transform traditional banking services through digital innovations. Digital peso bonds serve as a “proof-of-concept” for the […]
The BPI’s Asset Management and Trust Corp. (AMTC) has recently appointed Maria Theresa Marcial Javier as its new president and chief executive officer effective June 15, 2022. She replaces Shiela Marie U. Tan, who headed the same unit since 2018. Ms. Marcial has over 25 years of experience in the financial services industry, specifically in […]
The Philippines’ push towards financial inclusion is slowly gaining ground, with a recent survey revealing that 51 percent of Filipino adults now have access to financial institutions, thanks in part to the pandemic. This is a significant improvement as the World Bank’s Global Findex 2021 report also confirmed that the Philippines was able to establish […]
by Bhea Baarde, Correspondent The future of Fintech through BaaS looks bright. BaaS or Banking-as-a-Service is now the latest buzzword in the financial services industry which continues to undergo rapid change. BaaS is an end-to-end model that allows digital banks and other third parties to connect directly with the bank’s system via its Application Programming […]
