Metrobank advises clients to use new app
Metrobank is encouraging its clients to switch to the new Metrobank app, as the old app will be deactivated soon. To enjoy uninterrupted mobile banking, current users of the old…
Metrobank’s 9-month profit up by 36%
Metropolitan Bank & Trust Co. (Metrobank) reported a 35.6% year-on-year increase, reaching P31.8 billion in net income for the nine months ending in September 2023. Metrobank attributes the income growth…
Backbase: Banks fail to achieve return on equity with in-house digital infra
A study conducted by the International Data Corp. (IDC) on behalf of Backbase, a provider of engagement banking platforms, has revealed that 80% of organizations in the Asia Pacific (APAC)…
BPI holds BizTalk on taxation sessions for small businesses
The Bank of the Philippine Islands (BPI) recently held a series of free BizTalk learning sessions in an effort to educate small and medium enterprises (SMEs) about taxation. In partnership…
Banks need to leverage IT to remain competitive
The roundtable discussion hosted by Silverlake Axis and the International Data Corp. emphasized the importance for banks to find the right partner to accelerate their digital transformation. Silverlake Axis is…
Metrobank posts a growth of 31% net income in 1Q23
Metrobank (Metropolitan Bank & Trust Co.) posted a 31.3% growth in net income in the first quarter of 2023. The bank attributed the P10.5 billion growth to higher margins and…
BSP agrees to the use of digital ID for bank client verification
The Bangko Sentral ng Pilipinas (BSP) has agreed to the use of digital identification and verification of bank clients. BSP also released guidelines on electronic Know-Your-Customer (e-KYC), which recognizes its…
BSP revises guidelines on operations of e-money
Citing protecting customers from IT-related risks, the Bangko Sentral ng Pilipinas (BSP) has announced the changes in the electronic money (e-money) operations in the Philippines. In a media advisory, the…
BSP calls on BFSIs to join open finance standards consultation
The Bangko Sentral ng Pilipinas (BSP) will soon begin consultations for the “PH Open Finance Pilot” in crafting the development of open finance technical and operational standards and arrangements. In…
BPI optimistic about merger with Robinsons Bank
Bank of the Philippine Islands (BPI) sees growth and opportunities after the bank’s shareholders approved the merger with Gokongwei-led Robinsons Bank Corp. (RBC) merger. In a special stockholders meeting, BPI…
ICTSI taps ING, Bank Mendes Gans for global cash management service
ING Bank Philippines and Bank Mendes Gans (BMG) will be in charge of centralizing International Container Terminal Services Inc.’s (ICTSI) cash management involving multiple countries and currencies. ING hopes to…
Consumer behavior drives digital adoption in banking sector — Finastra
Usage of e-wallets during the pandemic saw an unprecedented surge in the Philippines. This continues and other financial services are easing into the consciousness of consumers, according to Finastra, a…
Brankas develops world’s first Banking-as-a-Service open-source license
Open Finance technology company Brankas has developed “Brankas Open,” a first-of-its-kind open-source license for the next generation of Banking-as-a-Service and Open Finance software. The Brankas Open license is meant to…
UnionBank raises $358 million in syndicated loan facility
Union Bank of the Philippines (UnionBank) has tapped the syndicated bank market through a $358 million three-year syndicated loan facility. Despite prevailing market uncertainty and volatility, UnionBank’s syndicated financing was…
Visa, Brankas unveil new open finance products
Brankas, an open finance technology provider, has been appointed by Visa as its first regional partner to provide live access to its Open Data products. The two companies have been…
Unistar taps Cloud4C’s cloud solution to transform business operations
Unistar Credit and Finance Corp. (Unistar), a financial solutions company, partners with Cloud4C, a multi-cloud, application focused managed cloud services leader in the adoption of digital technology to improve efficiency…
Metrobank offers opening of time deposit account online
Metropolitan Bank & Trust Co. (Metrobank) now allows account holders to conveniently and securely open a time deposit account through Metrobank Online, its internet banking platform. Depositors can enjoy higher…
Metrobank maintains top position in securities trading
Metropolitan Bank & Trust Co’s. (Metrobank) Financial Markets Sector was recently recognized by the Asset and the Bureau of the Treasury for its expertise in trading and for cornering the…
Metrobank lists P23.7 billion bonds
Metropolitan Bank & Trust Co. (Metrobank) lists the P23.7 billion fixed-rate bonds it recently raised on the Philippine Dealings and Exchange Corp. (PDEx). The figures are more than double its…
BanKo ramps up digitalization efforts with new products, services
The Bank of the Philippine Islands (BPI), through its microfinance arm BanKo, introduced new products and services as part of its digitalization efforts. “Digital banking has become a necessity now.…
UnionBank continues digitization efforts with new banking solutions
Aboitiz-led Union Bank of the Philippines recently introduced new solutions — eDAO (ePaycard Digital Account Opening), Remote Check Deposit (RCD), and Embedded Banking — to strengthen its banking services offerings.…
Tonik boosts API security with Noname Security solution
Noname Security, a proactive API (application programming interface) security platform, has been chosen by Tonik, a neobank based in the Philippines, to help safeguard a critical component of its digital…
ING joins the QR Ph program to offer free instant transfers
ING Philippines beefs up its services with the addition of new features as a response to customers’ evolving digital banking behavior. The financial services institution added two new features in…
APAC banks need to embrace digitization or lose market share — report
The new report by The Financial Times Focus and Mambu shows that banks must reposition themselves and embrace technology to avoid “extinction.” The results of the report illustrate the urgent…
PSBank to shorten banking hours during ECQ
In support of the Philippine government’s initiative to prevent the further transmission of COVID-19, all PSBank branches nationwide will have shortened banking hours (8:30A a.m.-2 p.m.), Monday-Friday, from Aug. 6…
RCBC honors partners in digital aid disbursements
The Rizal Commercial Banking Corporation (RCBC) recognized its partner banks and institutions at the Araw ng Pasasalamat sa mga Madiskarteng Kabalikat program. The event, in time for the Philippine Independence…
Global spending on blockchain to reach $6.6 billion in 2021
The financial sector is leading the way in the use of blockchain technology with the industry analyst International Data Corp. (IDC) expecting that global spending will increase by more than…
FICO: 56% of Filipino respondents prefer digital banking
Filipinos are fast adapting to digital banking as shown by the recent survey by analytics software firm FICO wherein 56% of the respondents said they now prefer to do their…
EastWest’s EasyWay allows clients to pre-process bank transactions
Banking should be quick, especially if you’re there for a simple transaction that you do regularly. That’s why EastWest has figured out how to keep your bank visits short with…
UnionBank uses AI to enhance customer digital experience
As technologies are now taking over many industries across the globe, the UnionBank of the Philippines is now transforming its data science and artificial intelligence (DSAI) into a wide range…