Philippines
Fintech Paywatch secures $30m in series A funding round
Fintech Paywatch secures $30m in series A funding round
Vanderbilt University and Third Prime led the investment round.
Overseas Filipinos’ personal remittances up 3.1% in April
Remittances from the US, Saudi Arabia, and Singapore all grew.
Alipay+ and GHL enable cross-border payments in the Philippines
Mobile wallets include AlipayHK, KakaoPay, Touch ‘n Go, and Alipay.
Philippines' liquidity at 5.6% YoY in April
It was slower than the 5.7% YoY in March.
Filipinos collectively spent 42 years on digital lending apps in 2023
About 63.4% of the time was spent on platforms offering personal loans.
Philippine’s bank loans expand by 9.6% YoY in April
It was higher than the previous month’s 9.4%.
Philippines’ Remolona warns of oil prices, interest rates as financial stability risks
The financial stability council also warned of geopolitical risks.
GoTyme Bank launches multi-currency time deposit with $1 minimum
The Philippine-based digital bank promises interest rates between 3% to 3.5%.
Philippine central bank eyes developing local capital markets
It will help make the financial system more resilient, the BSP Governor said.
Wise launches in the Philippines with fee-free money transfer service
Users can receive and spend money internationally and create up to 3 cards.
CTBC Bank PH unveils redesigned web interface and mobile banking app
The app features personalised widgets and customisable features.
PH banks’ total assets expanded 9.2% to $439.3b in 2023
Both lending and investing activity grew during the period.
PH fintech BillEase integrates QRPh in platform with AUB partnership
BillEase customers can now pay at over 600,000 QRPh-accepting merchants.
Philippine loan officer fined for violating lending regulations
The officer was an employee of the now closed Ruran Bank of Buguias (Benguet).
PH banks maintained loan standards in Q1
An estimated 3 in 4 banks maintained credit standards for housing loans.
PH’s BillEase clinched $5m investment from Credit Saison lending arm
BillEase has achieved profitability in 2023 and delivered 47% return on equity.
Zed challenges banking norms with no interest, forward-looking credit card
The soon-to-be-launched card will underwrite based on present and future income, not just past financial records.
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Nearly 8 in 10 MSMEs still face barriers to accessing loans, an expert said.
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