Tag: COVID-19 pandemic

Technology

Fintech, bank convergence seen to accelerate amid crisis

While fintech startups disrupted the banking industry, the COVID-19 crisis will see traditional banks, neobanks, and fintechs converging and collaborating to address the needs of customers. Image credit: Floriane Vita on Unsplash
Image credit: Floriane Vita on Unsplash

While fintech startups have disrupted the banking industry, the COVID-19 crisis will see traditional banks, neobanks, and fintechs converging and collaborating to address the needs of customers.

“Fintechs, while regulated, almost don’t have any baggage to begin with. This is where they kind of flew up front to provide the experience profile, to provide the experience management for the market. But at the same time, they needed to connect back with systems so that the customer that they are serving has an end-to-end experience. And this is where I think the new age digibanks, the new age fintechs, and the heritage banks have a real opportunity to now leverage technology and leverage partnerships,” Aju Murjani, IBM Public Cloud Executive, Sales, IBM Asia Pacific, told Digital Life Asia.

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Technology

Financial woes force Filipinos to cancel digital services

A Philippine survey on the financial impact of COVID-19 on consumers shows that 31% of Filipinos have cancelled or reduced digital services due to financial woes. Image credit: TransUnion Philippines
Image credit: TransUnion Philippines

A Philippine survey on the financial impact of COVID-19 on consumers shows that 31% of Filipinos have cancelled or reduced digital services due to financial woes. This was among the budget changes reported by respondents, according to the Consumer Pulse study conducted by TransUnion. The research found that 93% of Filipinos surveyed have seen their household income negatively impacted by the COVID-19 pandemic.

“The survey did not specify the digital services. However, examples of wireless data, cable TV, and internet were provided in the survey, so at least one of these digital services has been cancelled or reduced by respondents,” TransUnion Philippines President and CEO Pia Arellano told Digital Life Asia.

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Technology

BPI on evolving role, encouraging Gen Z to save

New BPI president and CEO Jose Teodoro “TG” Limcaoco wants to cement BPI's position as the undisputed leader in the Philippine digital banking space. Image credit: BPI
New BPI president and CEO Jose Teodoro “TG” Limcaoco wants to cement BPI’s position as the undisputed leader in the Philippine digital banking space. Image credit: BPI

Quoting Charles Dickens, BPI Chairman Jaime Augusto Zobel de Ayala said “it was the best of times, it was the worst of times” for the bank in 2020. And as the oldest bank in the Philippines — and in Southeast Asia — formally welcomed its new president and CEO Jose Teodoro “TG” Limcaoco on April 22 after its board meeting, BPI emphasized the evolving role of banks as they navigate the changing digital landscape and the preferences of consumers across different generations and channels.

“In the old days, people wanted to see the cash in the vault. Today, you don’t see the cash in the vault. You know your money’s there, but it’s in data form. And therefore going forward, the successful banks are the ones with the name that people can trust that the data is safeguarded, that the data can be used by themselves, and that the cost of using is actually cheap or actually positive because their data grows, or their wealth grows. And that’s why people love the concept of digital banks. I think there will be people who will come into the Philippines trying to set up a digital bank, but they will always be at a disadvantage to BPI which has the name and the physical infrastructure to attract the customers,” Limcaoco said.

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Entertainment, Science, Technology

Selena Gomez to host Global Citizen’s VAX LIVE concert

To inspire vaccine confidence worldwide and help get COVID-19 vaccines to everyone, international advocacy organization Global Citizen has announced VAX LIVE: The Concert to Reunite the World, hosted by Selena Gomez. Image credit: Global Citizen
Image credit: Global Citizen

To inspire vaccine confidence worldwide and help get COVID-19 vaccines to everyone, international advocacy organization Global Citizen has announced VAX LIVE: The Concert to Reunite the World on May 8 hosted by Selena Gomez.

“I’m honored to be hosting VAX LIVE: The Concert to Reunite the World. This is a historic moment to encourage people around the world to take the COVID-19 vaccine when it becomes available to them, call on world leaders to share vaccine doses equitably, and to bring people together for a night of music in a way that hasn’t felt possible in the past year. I can’t wait to be a part of it,” said Gomez in a press statement.

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Technology

Digital fraud from PH targets Gen Z, says TransUnion

The provisional results of TransUnion’s Global Consumer Pulse Study found that 44% of Philippine consumers said they have been targeted by digital fraud related to COVID-19 in the last three months.  Image credit: TransUnion
Image credit: TransUnion

The provisional results of TransUnion’s Global Consumer Pulse Study found that 44% of Philippine consumers said they have been targeted by digital fraud related to COVID-19 in the last three months. Gen Z (born 1995–2002) is currently the most targeted out of any generation at 48%. They are followed by Millennials (born 1980-1994) at 42%. The full results of the TransUnion Philippines Consumer Pulse Survey are set to be released this April.

“Fraudsters are always looking to take advantage of significant world events. The COVID-19 pandemic and its corresponding rapid digital acceleration brought about by stay-at-home orders is a global event unrivaled in the online age. By analyzing billions of transactions we screened for fraud indicators over the past year, it has become clear that the war against the virus has also brought about a war against digital fraud,” said TransUnion Philippines President and CEO Pia Arellano in a press statement.

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Technology

Cancer charity leverages Boomi integration platform

A cancer charity is finding new fundraising opportunities by integrating and automating using the Boomi platform. Image credit: Boomi
Image credit: Boomi

By integrating and automating using the Boomi platform, the New South Wales (NSW) arm of Australia’s leading cancer charity is finding new fundraising opportunities.

“From patient support, to research and retail, we offer so many services across NSW, making it critical to have the right building blocks in place to maintain visibility across our operations,” said Cancer Council NSW Chief Information Officer Frances Waterford in a press statement.

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Technology

GCash in 2020: Mobile wallet catalyzes digital economy

The massive growth of GCash in 2020 shows how Filipinos have embraced digital finance and made the mobile wallet part of their new normal. Image credit: Globe Telecom
Image credit: Globe Telecom

The massive growth of GCash in 2020 shows how Filipinos have embraced digital finance and made the mobile wallet part of their new normal.

“GCash has played an integral role in keeping not only the economy going, but keeping Filipinos safe and sane during the pandemic. We’ve seen not only heads of households and young adults use the GCash app for their financial lifestyle, but even consumers that advocate a greener Philippines, in maximizing what our platform has to offer,” said GCash President and CEO Martha Sazon in a press statement.

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A Life Less Analog, Entertainment, Technology

My favorite things: What made 2020 bearable for me

Technology column header

Happy New Year, everyone! I don’t believe in New Year’s resolutions, or that everything will suddenly be better just because 2020 is finally over. I do believe, however, that many of us have changed a lot in 2020, and that the lessons we learned in that challenging year will help us in 2021. So I’m sharing a list of my favorite things that made 2020 more bearable for me and kept me (mostly) sane.

2020 has taught me that I don’t need a lot of people or things to make me happy. In fact, it made me realize that I should focus my energy on the people who really matter, and the things I truly value and spark joy in my life. Here are a few of my favorite things.

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Technology

Digital channels a ‘must-have’, says TransUnion PH head

TransUnion Philippines President and CEO Pia Arellano says consumers are getting more and more used to transacting on digital channels. Image credit: TransUnion Philippines
TransUnion Philippines President and CEO Pia Arellano says consumers are getting more and more used to transacting on digital channels. Image credit: TransUnion Philippines

As we prepare to say goodbye to 2020, we should expect the pandemic-driven growth of digital channels this year to continue in 2021.

“Digital transactions will definitely continue to become more widely used and even expected when it comes to spending. For all the challenges that the pandemic has brought about, it did push businesses into speeding up their adoption of digital channels to reach and interact with customers. Before the pandemic, these digital channels were primarily seen as a ‘nice-to-have’ option for lenders and businesses but today (and going beyond 2021), they are must-haves for any company to survive and capture their target market,” TransUnion Philippines President and CEO Pia Arellano told Digital Life Asia.

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Technology

Digital transformation is human-centric, says Boomi

Digital transformation is not just about technology, says Boomi Vice President for Asia Pacific and Japan Ajit Melarkode. Image credit: Boomi
Digital transformation is not just about technology, says Boomi Vice President for Asia Pacific and Japan Ajit Melarkode. Image credit: Boomi

Ecommerce is booming, with the COVID-19 pandemic forcing businesses to accelerate their digital transformation. Yet even as we embrace digital transformation, we must not forget to put humans first.

“Humans are more important in technology and to technology than ever before. I’m constantly reminded that the ‘servers’ in our IT industry originally meant someone or something that serves. COVID-19 has reminded us of our service obligations to ourselves, our families, our teams, our communities, and our business networks,” Boomi Vice President for Asia Pacific and Japan Ajit Melarkode told Digital Life Asia.

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A Life Less Analog, Technology

FLEXWORK: Why the future of work is employee-centric

Technology column header

Working from home isn’t for everyone. Some people love it. Some people don’t. But whether it’s due to resistance to change, fear of technology, or generational differences, those who hate working from home should not get in the way of those who love it. That’s why the future of work is FLEXWORK, with companies adopting employee-centric practices that emphasize flexibility and choice.

“The world that we’re moving forward to right now is one where companies are able to provide flexibility to their workers. I think in some instances, we’ve seen that people commute to work for an hour, an hour-and-a-half. Some people have an extremely long commute up and back each way. And some people feel that if they work from home, they would actually be more than happy to give that two hours each way back to the organization for time to work. Some people love the idea that they can be a little bit more flexible around their routine. Maybe they don’t start at 9 o’clock on the dot. They can do their shopping in the morning, but they’re actually managing their day accordingly,” said Sean Duca, Vice President and Regional Chief Security Officer, Asia Pacific and Japan of Palo Alto Networks.

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Entertainment

BLACKPINK online concert postponed to Jan. 31

YG Entertainment announced today that the BLACKPINK online concert BLACKPINK: THE SHOW will now be held on Jan. 31 instead of Dec. 27. Image credit: YG Entertainment
Image credit: YG Entertainment

YG Entertainment announced today that the BLACKPINK online concert BLACKPINK: THE SHOW will now be held on Jan. 31 instead of Dec. 27.

“We can’t wait to meet our BLINKS as soon as possible, but in order to comply with the Korean COVID-19 prevention guidelines and to ensure a safe performance, unfortunately we have made the decision to postpone THE SHOW from December 27th to January 31st of next year,” said BLACKPINK member Jisoo in the message video that was posted on the official BLACKPINK Twitter account and YouTube channel.

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