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Lenders adjust branch banking strategies as pandemic causes client behavior shift

BRICK-AND-MORTAR lenders are refocusing their branch banking strategies this year amid the coronavirus pandemic that has caused their customers to shift to using their digital services.

PHL should focus on closing digital gap, upskilling workers

IN ORDER TO “build back better” from the impact of the coronavirus pandemic, the Philippines should focus on closing the digital gap, upgrading the education curricula, upskilling workers, and expanding investments in research and development, according to a new report by the World Economic Forum (WEF).

PHL finishes in lower half of rankings for digital readiness

THE PHILIPPINES was ranked towards the lower half of a 90-country study on digital infrastructure quality, according to a study conducted by Tufts University in Massachusetts and Mastercard, Inc.

Travel, trade sectors to benefit from digitalization

THE COUNTRY’S travel and trade sectors could benefit from fully digitizing processes in response to the coronavirus pandemic, Perlin.net Chief Executive Officer Dorjee Sun said.

Lenders, tech firms adjust to e-payments shift

FINANCIAL INSTITUTIONS are boosting their capabilities to ensure they can accommodate the needs of consumers and merchants in their shift to digital payments amid the coronavirus pandemic.

Firms going digital amid pandemic

THE MARKET has seen an increase in smaller businesses amid the coronavirus pandemic, with most firms tapping digital platforms to reach their customers.

BSP approves regulatory framework for digital banks

THE MONETARY BOARD has approved a regulatory framework for digital banks, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Thursday.

CCP Encyclopedia of Art goes digital

ACCURATE information about Philippine art can now be accessed on one’s phone — and laptop, iPad, desktop… — as the Cultural Center of the Philippines (CCP) launched the digital version of its Encyclopedia of Philippine Art (EPA) in a webinar last week.

Gov’t told to expand digital tax foothold

THE government should look at digital payment systems that can cover cross-border transactions to widen its digital tax base, according to the National Tax Research Center (NTRC).

Agriculture startup seeks to empower farmers through digital sale platforms

AGRO-DIGITALPH, a startup, hopes to organize a new “digital ecosystem” of farmers to encourage greater use of technology in the industry with the end goal of raising farmer incomes following the disruptions caused by the coronavirus disease 2019 (COVID-19) pandemic.

Local digital economy to hit $28B by 2025 — study

THE Philippine digital economy’s gross merchandise value (GMV) is seen to hit $28 billion in 2025, accelerating to a 30% compound annual growth rate (CAGR), driven by the growth in new digital consumers, the latest e-Conomy Southeast Asia report by Bain & Company, Google, and Temasek said.

Digital banks to boost inclusion

MORE FILIPINOS are expected to put their savings in digital-only banks that offer higher interest rates than traditional banks as the coronavirus pandemic has amplified the need for easily accessible emergency funds, ING Bank N.V. Manila said.

Microsoft hopes to close digital skills gap in PHL

MICROSOFT Philippines (PHL) is seeking to close the digital skills gap in the country by helping Filipinos increase their digital literacy, company officials said.

Digital shift seen key to outsourcing industry’s rebound

DIGITAL and workforce transformation in outsourcing, instead of cost cutting, will be the key to industry recovery, Accenture Senior Managing Director Ambe C. Tierro said.

ABS-CBN to further expand digital presence after YouTube success

ABS-CBN Corp. will further expand its digital presence after the Youtube channel of its entertainment show hit 30 million subscribers, the listed media company said.

A higher aim on innovation

46th Philippine Business Conference & Expo continues conversation about innovation in business By Adrian Paul B. Conoza, Special Features Writer One of the points the coronavirus...

Diskarte: The best powers of today’s entrepreneur

G Summit of Globe myBusiness encouraged MSMEs to harness their inner diskarte By Adrian Paul B. Conoza, Special Features Writer The pandemic has inevitably sent a...

Improvements needed to boost PHL’s digital competitiveness

BUSINESS LEADERS are calling for improvements in information technology infrastructure and workforce talent development after the Philippine ranking for digital competitiveness dropped two spots in a global digital competitiveness index.

Southeast Asia to reap dividends from expansion of digital space: ADB

SOUTHEAST ASIA is among the regions seen to gain the most in the expected surge in the digital space, the Asian Development Bank (ADB) said, but this would require huge investments and good management of risks.

Digital banks urged to tap youth, small firms to boost presence

VIRTUAL BANKS in the Philippines looking for growth opportunities must target the young and unbanked as well as small businesses, S&P Global Ratings said.

Kadayawan spirit lives on with digital events, but tourism sector struggles...

DAVAO CITY — Video-sharing platform TikTok was this year’s stage for the Indak-Indak street dancing competition, one of the highlights of the annual Kadayawan Festival in August.

A digital dance-off spreads from Argentina to the world

BUENOS AIRES — With theaters closed around the world, three South American dancers have created a digital dance-off for aspiring twirlers, with Instagram the new stage where competitors from Argentina and Brazil to Israel and Italy post clips of their moves.

UN pushes sustainable shift to digital finance

THE UNITED NATIONS (UN) has encouraged countries to ramp up the use of technology in financial services while ensuring its sustainability to help them achieve their Sustainable Development Goals (SDGs) by 2030.

Linggo ng Musikang Pilipino goes digital

THESE ARE uncertain times with a pandemic wreaking havoc on people’s health and the country’s (and the world’s) economy, but uncertain times notwithstanding, Filipinos will do what they are best at doing: adapt and endure. The same goes for the music industry which at first was halted by one of the longest lockdowns in the world as it is an industry that thrives in front of a live audience, but it has since adapted and re-programmed to be visible digitally.

Expensive, slow internet pulls down Philippine digital ranking

THE Philippines ranked 66th out of 85 countries in the 2020 Digital Quality of Life Index, saddled with issues like expensive, low-quality internet and the need to upgrade its electronic infrastructure.

Digitized education levels the playing field for students with special needs...

Digitized education levels the playing field for students with special needs, said Shaina Tantuico, co-founder and executive director of TinyLabs, a virtual class platform for children up to seven years old. 

Pandemic to accelerate digitalization

THE digitalization that is expected to spur the country’s young workforce to drive consumption by 2030 will be accelerated by the pandemic, a report from the World Economic Forum and Bain & Company said.

Aboitiz power provider goes digital

A UNIT of Aboitiz Power Corp. has brought online its first digital substation in Davao City.

Digital tax bill hurdles House panel

THE House Ways and Means Committee on Wednesday approved a measure that would impose a 12% value-added tax (VAT) on digital services, particularly those offered by foreign technology companies such as Facebook, Netflix, Inc., Alibaba’s Lazada and Alphabet’s Google.

Pandemic forces Japan’s analog businesses to turn to digital solutions

THE CORONAVIRUS pandemic may be a drag on economies across the globe, but in Japan it’s bringing long-overdue change in work habits and tools.

Housing developers go digital amid pandemic

PROPERTY DEVELOPERS are turning to digital tools to boost home sales amid the coronavirus pandemic.

Supply chain for food, other goods challenged by overloaded shippers

DAVAO CITY — Cargo logistics operations are slowly improving with the easing of lockdown rules, but the industry says supply chains remain challenged due to the workload imposed on freight forwarders and the failure of government agencies in charge of approvals for the movement of goods to fully embrace digital processes.

Manila FAME 2020 trade show canceled in favor of digital

THE Department of Trade and Industry’s export promotion arm is cancelling the 71st Manila FAME trade show as it shifts to digital promotion activities.

Turning the digital divide to dividends

In a recent speech, President Rodrigo Duterte declared that face-to-face classes will be suspended until a vaccine for the coronavirus disease 2019 has been found. As a result, the country’s educational system, from basic to higher education, finds itself abruptly shifting to either blended or online modes of instruction.

Pandemic digital habits expected to stick around after public health crisis

NEW digital behaviors adopted by consumers and businesses during the coronavirus crisis are expected to linger after the pandemic, accelerating the long-term growth of the technology sector, the Franklin Equity Group said.

Digital is ‘new normal’ as businesses restart

THE “new normal” for businesses after the lockdown is lifted will likely include a major shift to digital services, including digital payments and telemedicine.

TONIK to launch the first digital-only bank in the Philippines

TONIK is powered by BPC The Philippines is about to welcome its first digital-only bank. TONIK Digital Bank Inc, founded in 2018, received its banking...

Agency banking transactions rose in 2019

THE COUNTRY’S digital agency banking in 2019 took a leap as transactions ballooned by more than fivefold, fueled by withdrawal transactions of conditional cash transfer beneficiaries.

Utility payments, remittance transactions still done manually despite digital platforms

UTILITY PAYMENTS and remittance transactions are still done manually by majority of Filipinos, according to a study by Better Than Cash Alliance which recommended an interoperable platform to streamline these inflows.

Volume, value of Filipinos’ digital transactions climb

THE COUNTRY has seen a leap in moving towards a more digital economy with a significant growth in the volume of e-payments, according to a study cited by the Bangko Sentral ng Pilipinas, with Filipinos also becoming more trustful of online payments as the value of the transactions made have also inched up.

IEMOP’s bright year as WESM operator

By Mark Louis F. Ferrolino, Special Features Writer With its assumption of the operations of the Wholesale Electricity Spot Market (WESM) on Sept. 28, 2018, the...

The future in focus

Winning together in the fourth industrial revolution By Bjorn Biel M. Beltran, Special Features Writer Professor Klaus Schwab, founder and executive chairman of the World Economic Forum,...

Providing world-class connectivity

Telecommunications has become one of the lifeblood of the modern world. It happened to be the driving force behind massive changes and multitudinous advances...

Smart Padala by PayMaya empowers communities with digital financial services

Digital financial services adoption is growing fast as mobile and internet penetrate all corners of the country. For most of the unbanked and underserved,...

A better health care experience

Advances in technology across retail, hospitality and finance, among others, have caused consumers to become more demanding. The exact same thing came to apply...