Philippines’ Financial Industry and NGO Groups Link for Faster COVID-19 Subsidy Delivery
Private companies join hands in support of the government’s social amelioration program to Filipinos severely affected by the COVID-19 enhanced community quarantine (ECQ) through the promotion of alternative encashment facilities nationwide.
Philippines Global Financial Inclusion Ranking Slips Further
The global financial inclusion ranking of the Philippines slipped further this year despite improvements spurred by the government’s need to promote digital channels as part of its response to the COVID-19 pandemic.
Amid Pandemic, Household Savings Rise Slightly
Filipino households in the lower-income group, especially those in the rural areas of the country, are still struggling to save.
Philippines: BSP Backs Use of Satellite Technology to Boost Financial Inclusion, Disaster Resilience
The Bangko Sentral ng Pilipinas said the use of satellite technology to expand broadband services would boost financial inclusion, as well as help banks in remote areas improve disaster resiliency.
IFC’s First Investment in an NBFI in the Philippines to Support Women-Owned Small Businesses, Drive Post-COVID Recovery
The funding will allow Esquire, a market leader in the unsecured small and medium enterprises loan segment, to grow its loan portfolio and better serve women-owned SMEs during and after the global pandemic.
CIMB Bank Philippines Collaborates With Zoloz to Strengthen Its Digital Banking Services with Advanced eKYC Solution
Under the terms of the agreement, CIMB Bank Philippines will leverage Zoloz's eKYC solution for frictionless user onboarding and enhanced payment experience, making financial services more accessible and inclusive to Filipinos.
Philippines: IFC, IFC Financial Institutions Growth Fund, and IFC Emerging Asia Fund Invest in Voyager Innovations to Expand Digital Financial Services
The investment will enable Voyager to grow its platform and offer integrated, end-to-end digital financial services to consumers, micro, small, and medium-sized enterprises (MSMEs), and large enterprises.
Fintech Voyager Raises $210 M to Become Second Philippine 'Unicorn'
Voyager, which serves 47 million people through its consumer platforms that include e-wallet and digital payments, said the fresh capital will fund its digital banking venture and other services like cryptocurrency and micro-investments.
Western Union Expands Presence in the Philippines With Tie Up
This tie up highlights Western Union’s efforts to strengthen presence in the Philippines, which has been recognized as the fourth-largest remittance recipient country in 2019 according to the World Bank.