by Alexis Tuble, Correspondent Amid the rapid growth of digital banking and e-wallet usage in the Philippines — which accounted for over 52.8% of the total volume of retail transactions in 2023, up from 42.1% in 2022, cyber threats are becoming increasingly serious, posing significant risks to both public funds and trust. This surge highlights […]
by Jan Michael Carpo, Reporter SAVii, the Philippines’ leading fintech salary lender, has recently been acquired by GoTyme Bank’s primary owners, JG Summit and Tyme Group, to accelerate the digital bank’s expansion into payroll-enabled financial products. Founded in 2017 by CEO Liam Grealish, Benoit Portoleau-Balloy, and Javier Frasseto, SAVii (formerly known as Uploa) has become […]
The Bank of the Philippine Islands (BPI) has recently upgraded its mobile banking app by integrating new security features. In a press statement, a bank official said that the move aims to ensure the continued confidence of Filipinos in digital banking while further shielding BPI clients from cyber fraud and scams. IMAGE CREDIT: https://bpi.com/ “Cyberattacks […]
Convenient, easy, and hassle-free. These are just some of the words that we often associate with a “safe” and “secure” banking experience. And despite cash being the primary method of payment for Filipinos, government authorities are now also urging an increased adoption of digital banking and debit cards, especially among the unbanked, to enhance financial […]
CIBC has formed a new collaboration with Visa, a trusted network and world leader in digital payments, to help the bank’s clients send remittances across borders safely and more conveniently. With Visa’s money movement capabilities, clients of CIBC and its digital banking division Simplii will now be able to send money to more digital wallets in the Philippines, China, Bangladesh, […]
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. said the central bank’s strategy to support sustained economic growth is focused on three key challenges: managing monetary policy in a supply-shock economy; digitalizing the banking system; and maintaining a safe and efficient payments system that serves the unbanked. At the Philippine Economic Briefing (PEB) held […]
Digital-only bank CIMB Bank Philippines announced recently that it has teamed up with Visa to accelerate the growth of its debit card program through the use of Visa’s virtual and real cards. According to CIMB, the partnership will allow Visa, the world leader in payments technology, to gain more exposure from a new group of […]
Less than a year after its inception, GoTyme Bank, a joint venture between the Gokongwei business and Singapore’s multi-country digital banking business Tyme, reported it has hit its one millionth customer milestone earlier this month. The digital bank, which was soft-launched in the Philippines in October 2022, attributes this remarkable achievement to its distinctive and […]
Physical restrictions have been put in place during the epidemic to prevent people from becoming infected; as a result, mobile e-wallets and digital banks that facilitate cashless payments have arisen and become extremely popular among Filipinos. Three years later, despite the removal of restrictions, digital payments are still popular. Most recently, Felipe M. Medalla, governor […]
According to a report by research firm Gartner, application programming interface (API) will become the top attack vector for web applications in 2022. API is a software intermediary that allows two applications to talk to each other. In an attempt to exploit system vulnerabilities, hackers would usually use numerous attack vectors such as APIs to launch […]
