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Fintech startup Affirm aims for over $9-billion valuation in US IPO

AFFIRM HOLDINGS INC., founded by PayPal Holdings, Inc. co-founder Max Levchin, is aiming for a valuation of over $9 billion in its initial public offering, the lending startup said in a filing on Tuesday.

Why is Bitcoin’s price at an all-time high? And how is...

Bitcoin continues to trade close to its all-time high reached this month. Its price is now around US$34,000—up about 77% over the past month...

Rising startup SquidPay licensed as an e-money issuer by the BSP

SQUIDPAY TECHNOLOGY INC. can now operate as an e-wallet after obtaining its Electronic Money Issuer (EMI) license from the Bangko Sentral ng Pilipinas (BSP)...

China could restrict bank tie-ups with fintech platforms, official says

BEIJING — China’s former finance minister Lou Jiwei suggested that China could restrict the number of banks a single fintech platform can partner with, to prevent any platform from gaining too much market share, state media reported on Sunday.

UnionBank named ‘Bank of the Year 2020’ in PH

Union Bank of the Philippines (UnionBank) was declared the “Bank of the Year 2020” in the Philippines by The Banker, regarded as the industry...

Fintech group wants industry-crafted rules

THE CENTRAL BANK should allow market players to develop their own open finance framework, with the Bangko Sentral ng Pilipinas (BSP) only providing support when needed in the process, an industry group said.

Homegrown fintech startup SquidPay secures P200 Million in funding

Local startup SquidPay Technology Inc. has recently signed Php 100 Million in Series A and Php 100 Million line of credit arranged by Eastern...

Philippine startup fundraising hits $184 million in first half of 2020

The first half of 2020 saw total investments in Philippine startups reach an estimated $183.8 million, a 384% increase from the 2019 year-round estimated value of $37.9 million, according to the Philippine Venture Capital Report released by Foxmont Capital Partners, a venture capital fund.  

House bill proposes major push to attract fintech firms

A BILL filed in the House of Representatives is seeking to attract financial technology (fintech) companies away from more crowded markets elsewhere in Asia.

Crypto is beating gold as 2020’s top asset so far

A cryptocurrency mania known as decentralized finance has helped to turn digital currencies into this year’s best-performing asset by far.

Tailor-fit regulations sought for fintech industry

FINANCIAL TECHNOLOGY (fintech) players are hoping for legislation tailor-fit for the industry to address its issues.

Fintech support sought for small firms

THE Philippine arm of an Asia-Pacific business council is urging the country to take on financial technology tools to assist small businesses recovering from the effects of the coronavirus disease 2019 (COVID-19) pandemic.

Fintech firms seek emerging-industry protections in tax

THE fintech industry said it wants to be recognized as an emerging industry with some protections in a bill proposing to tax digital services.

Filipino team bags grand prize at Finastra global hackathon

The team’s solution aims to connect local farmers to financial opportunities.

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...

New partnership with Transfez furthers PearlPay’s expansion into Indonesian market

With the establishment of PearlPay Hong Kong, PearlPay aimed to service HK-based OFWs looking for an easier way to send money home. Now, through their recent partnership with Transfez, PearlPay is hoping to do the same for Hong Kong’s Indonesian workers.

Insurtech is key to fintech’s evolutionary timeline

“Founders would be wise to break-down their respective spaces into a timeline, not a map. What types of businesses must come before theirs in order for their own startup to succeed?”

GorricetaLaw named innovative tech law firm of the year

GorricetaLaw has established itself as a leading firm in navigating the legal frontiers of emerging technologies like fintech, artificial intelligence, and blockchain. Among their clients are Xurpas, Zalora, Rappler, and Coins.ph.

Fintech held back in PHL by infrastructure, preference for cash —...

INFRASTRUCTURE and an enduring preference for cash are holding back the financial technology (fintech) industry in the Philippines, but the tide will turn when international firms decide that the market is ready, a Visa official said Thursday.

Banks need to digitize, tap fintech firms

THE BANKING INDUSTRY needs to go digital for survival and may seek the specialty offered by financial technology (fintech) firms for more efficient service delivery, according to bank and fintech executives on Thursday.

Online lenders, fintechs to adopt code of ethics

A CODE OF ethics for online lenders has been created to safeguard borrowers from abusive practices of financial technology (fintech) players such as shaming them in times of default and late payments and to foster transparency for both creditors and borrowers.

Local fintech Cashalo launches national financial literacy platform, ‘Cash Academy’

Earlier today, local fintech platform Cashalo launched ‘Cash Academy’, a nationwide financial literacy program aimed towards developing a generation of more financially knowledgeable, responsible,...

Investing: A considerable choice for Gen Zers

Investing was viewed before as an activity that only the rich or older people do, but nowadays it turns out that younger people are...

The Future of Business: Next-Wave Disruptions & Opportunities

Keynote Speech of Jaime Augusto Zobel de Ayala, Chairman and CEO of Ayala Corp., at the BusinessWorld Economic Forum Former Prime Minister Cesar Virata; Hon....

On redefining the future of business

By Bjorn Biel M. Beltran, Special Features Writer In fast-changing times, it is the responsibility of leaders and visionaries to redefine what it means to contribute...

Dealing with the most constructive yet destructive force in the financial...

By Mark Louis F. Ferrolino, Special Features Writer For several decades, traditional banks have held a dominant market share with little modification to their business models....

Cloud-based fintech start up targets underserved rural banking sector

A fintech startup and mobile wallet enabler is set to begin a pilot test program for a new generation of cloud-based financial services set...

A champion of financial inclusion

When he first took office as Bangko Sentral ng Pilipinas’ (BSP) Governor in May 2017, Nestor A. Espenilla, Jr. vowed to push for general...

Fintech revolution still not here a year into ‘open banking’

WHEN EUROPEAN lawmakers ushered in the era of “open banking” for consumers one year ago, both lenders and financial technology startups expected a sea change. For the first time, banks would be required to share account data with competitors as long as customers gave their permission.

How to get through the holidays with your wallet intact

Tips for shopping responsibly this holiday season.

On Cagayan’s Cryptohub: How can it succeed?

With the announcement that the Philippines is building a “Crypto Valley of Asia” (CVA) in the Cagayan Economic Zone Authority (CEZA), cryptocurrency once again took the national spotlight as a potential key industry in the country.

Fintech lender First Circle to expand, boost financial literacy nationwide

Online lending firm First Circle to boost lending across nation, region.

The three obstacles business operators face when going digital

Dino Velasco explains how to grow online with UnionBank GlobalLinker.

From tellers to coffee shops — how new tech is changing...

IBM expert weighs in on banking’s new tech and new competitors.

Filipinos fintechs need to get creative to be competitive

Need inspiration? Here are three ASEAN fintech companies to get you thinking.

Today’s online marketplaces might just be tomorrow’s banks, expert says

Platform companies and online marketplaces are the biggest competition faced by banks today, an industry expert from IBM said. If they plan on surviving, players need to look beyond banking to keep profits afloat.

FinTech group supports Philippine ID system

A NATIONAL IDENTIFICATION (ID) system would allow more Filipinos to access financial services, according to FintechAlliance.PH Chairman Angelito “Lito” M. Villanueva.

BusinessWorld Economic Forum 2018 tackles realities of disruption

Last May 18, BusinessWorld, the most read and most respected business newspaper in the Philippines, triumphantly staged the third edition of its annual BusinessWorld...

The customer-centric story of disruption

By Mark Louis F. Ferrolino, Special Features Writer In a trajectory of rapid improvements, buoyed by disruptive technologies, consumers are becoming more demanding and discriminating. Emerging...

Philippine blockchain association launched

THE BLOCKCHAIN Association of the Philippines (BAP), one of the first blockchain-related organizations in the country, has been launched to harness and develop its use cases in the country, including the banking sector.

Man vs machine: Will AI put our humanity at stake?

THE VISION of an all-knowing, omni-present intelligent being that forms the backbone of our everyday lives has been portrayed in movies that captivate the...

Heading towards a ‘cash-light’—not cashless—society

The Philippines may have to cross a long road yet before becoming a totally “cashless society.”

FINTQ reports double-digit growth in loan disbursements

FINTQnologies Corp. (FINTQ), the financial technology (fintech) arm of PLDT Group's Voyager Innovations, Inc., booked a double-digit in the loan disbursements through its online...

Comparison-shopping site says interest in car loans stable despite TRAIN

Moneyguru Philippines Corp., the company that operates financial comparison website MoneyMax.ph, said interest in car loans remained steady after the implementation of the tax...

Malaysia’s CIMB wants to enter Philippine market via FINTQ

A Malaysian lender has tapped FINTQnologies Corp. (FINTQ) to penetrate the Philippine market as a digital bank. In a statement on Tuesday, FINTQ, the financial...