Fintech News Philippines is a website that covers the latest news and trends in the fintech sector in the Philippines. The website provides insights and analysis on topics such as digital banking, open banking, digital payments, lending, financial inclusion, and more. In this article, we will highlight some of the recent developments and stories that Fintech News Philippines has reported on.
Cebuana Lhuillier to Expand User Base with Temenos
Cebuana Lhuillier, a rural bank and microfinance provider in the Philippines, has partnered with Temenos, a banking software company, to modernize its core banking platform. The partnership aims to help Cebuana Lhuillier expand its user base to 11 million in five years, as well as offer new products and services such as savings accounts, loans, insurance, and investments. The bank will leverage Temenos’ cloud-native and API-first technology to enhance its operational efficiency, scalability, and security.
BSP Joins UN-Backed Principles for Responsible Investment
The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has announced that it has joined the United Nations-supported Principles for Responsible Investment (PRI). The PRI is a global network of investors who are committed to integrating environmental, social, and governance (ESG) factors into their investment decisions. By joining the PRI, the BSP aims to align its investment practices with its sustainability agenda, as well as promote ESG awareness and best practices among its stakeholders.
Atome Expands Debt Facility with HSBC Singapore to Include Philippines
Atome Financial, a fintech company that offers digital lending solutions in Southeast Asia, has renewed and expanded its debt facility agreement with HSBC Singapore. The new agreement includes the Philippines market, where Atome operates under the brand name Cashalo. The debt facility will enable Atome to increase its lending capacity and reach more underserved consumers and micro-enterprises in the region. Atome claims to have served over 20 million customers and partnered with over 3,000 merchants across Indonesia, Malaysia, Vietnam, and the Philippines.
Alibaba Cloud Summit Philippines 2023 Poised for Kick off This 12 Sept
The Alibaba Cloud Summit Philippines 2023 is set to kick off this 12 September at Grand Hyatt Manila, presenting attendees with an opportunity to learn about the latest trends and innovations in cloud computing. The summit will feature keynote speeches from Alibaba Cloud executives and industry experts, as well as breakout sessions on topics such as digital transformation, cloud security, data intelligence, and smart cities. The summit will also showcase Alibaba Cloud’s solutions and success stories in various sectors such as e-commerce, education, healthcare, and gaming.
Netbank Joins UBX’s Open Finance Platform
Netbank, a digital bank in the Philippines, has partnered with UBX, a fintech spin-off of UnionBank of the Philippines that offers an open finance platform. The partnership will enable Netbank to access UBX’s network of over 300 partners across various industries and segments, such as e-commerce platforms, payment gateways, remittance companies, and cooperatives. The partnership will also allow Netbank to offer its products and services to UBX’s customers through its API-based platform. Netbank is one of the six digital banks that have been granted a license by the BSP.
