Tag: financial inclusion

Technology

TransUnion pushes for information-powered recovery

TransUnion is encouraging businesses to envisage an information-powered recovery as the Philippines targets growth in an economy emerging from the impact of COVID-19. Image credit: rupixen.com on Unsplash
Image credit: rupixen.com on Unsplash

TransUnion is encouraging businesses to envisage an information-powered recovery as the Philippines targets growth in an economy emerging from the impact of COVID-19. The global information and insights company said that by ensuring that a consumer’s creditworthiness is accurately represented, financial institutions can expand their services to the unbanked and underserved.

“Prior to the pandemic, financial inclusion in the Philippines had been increasing at pace. A greater volume of institutions sharing financial information had enabled more consumers to access a greater range of financial services and products,” said TransUnion Philippines President and CEO Pia Arellano in a press statement.

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Technology

AI for financial inclusion: CIBI partners with ADVANCE.AI

Aiming to leverage the power of AI for financial inclusion, CIBI Information Inc. has signed a strategic partnership with ADVANCE.AI. Image credit: ADVANCE.AI
CIBI President and CEO Marlo R. Cruz says the partnership will boost financial inclusion in the Philippines. Image credit: ADVANCE.AI

Aiming to leverage the power of artificial intelligence (AI) for financial inclusion, Philippine credit bureau agency CIBI Information Inc. (CIBI) has signed a strategic partnership with Singapore-headquartered AI and big data company ADVANCE.AI.

“We’re truly excited by this partnership. Our mission has always been to boost financial services access and inclusion among unbanked and underbanked individuals and businesses in the Philippines. This partnership will pair ADVANCE.AI’s industry-leading AI and risk management solutions, including its identity verification and anti-fraud products, with our own data capabilities so we can grow our range and depth of credit reporting and information services in the country,” said CIBI President and CEO Marlo R. Cruz 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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Technology

Just Xendit: Indonesian fintech startup expands to PH

Xendit Philippines Managing Director Yang Yang Zhang aims to help Philippine businesses in their digital transformation journey. Image credit: Xendit
Xendit Philippines Managing Director Yang Yang Zhang aims to help Philippine businesses in their digital transformation journey. Image credit: Xendit

Will more Filipinos embrace digital payments and learn to just Xendit? That’s the goal of the Indonesian financial technology startup, which today announced it is expanding its operations in the Philippines.

“While we see increasing demand for digital transactions, we understand that many businesses in the Philippines have not yet fully embraced the digitalization journey. Xendit is unique because we build deeply into each local market and culture, allowing us to work hand-in-hand with both traditional and startup businesses to innovate together along their digital transformation journey. This is especially important now, as so much of the Philippines continues to rely on transacting online for essential payments and purchases,” said Xendit Philippines Managing Director Yang Yang Zhang.

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Technology

Bonds.PH app makes bond investing easy for unbanked

Union Bank of the Philippines President and CEO Edwin R. Bautista says the Bonds.PH mobile app will benefit every Filipino.
Union Bank of the Philippines President and CEO Edwin R. Bautista says the Bonds.PH mobile app will benefit every Filipino.

Have you ever thought of investing in retail treasury bonds? Now the Bonds.PH mobile app makes it easy for every Filipino, even the unbanked, to do so for as low as US$100.

The Philippine Bureau of the Treasury (BTr) is the first in Asia to launch an app for the distribution of retail treasury bonds enabled by Distributed Ledger Technology (DLT).

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Technology

TrueMoney supports sari-sari stores via Dagdag Puhunan

Sari-sari store owner Amy Garcia is thankful that TrueMoney is giving her convenient access to essential food and non-food products.
Sari-sari store owner Amy Garcia is thankful that TrueMoney is giving her convenient access to essential food and non-food products.

Amy Garcia, a sari-sari store owner for more than two decades, is one of the many beneficiaries of the low touch economy innovations of the award-winning Dagdag Puhunan program of TrueMoney Philippines.

“In these extraordinary times, TrueMoney Philippines accepts the challenge of helping the simple Filipino sari-sari store owner to thrive and survive,” TrueMoney Philippines CEO and Country Managing Director Eugene Go told Digital Life Asia.

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Technology

RCBC all-digital bank also inclusion super app, says EVP

RCBC EVP and Chief Innovation and Inclusion Officer Lito Villanueva says exciting times are ahead with the upcoming launch of the RCBC all-digital bank.
RCBC EVP and Chief Innovation and Inclusion Officer Lito Villanueva says exciting times are ahead with the upcoming launch of the RCBC all-digital bank.

As Yuchengco-owned Rizal Commercial Banking Corporation (RCBC) ramps up its digital transformation, it will launch an all-digital bank that will drive financial inclusion in the Philippines.

“RCBC will be launching an all-digital bank and it will be sooner rather than later. The company is not afraid to look towards the future and accept that legacy banking may be a thing of the past. A peek into what we have ahead: this new product will not only be an all-digital bank but also an inclusion super app — with an array of services that is more than what is offered in the market today. Exciting times are coming,” Lito Villanueva, EVP and Chief Innovation and Inclusion Officer of RCBC, told Digital Life Asia.

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