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Digital Banking Spurs Financial Inclusion in Philippines

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said the establishment of a digital banking framework is particularly relevant as billions of people affected by the pandemic are driving a historic and dramatic shift in consumer behavior.

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Bangko Sentral ng Pilipinas and French Agency Tie up to Boost Financial Inclusion in the Philippines

The grant from the French Development Agency is expected to enhance the BSP’s initiatives to empower marginalized sectors in the Philippines by providing them access to financial products and services.

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Western Union Launches Digital Money Transfer Services with Cebuana Lhuillier in the Philippines

Expanded collaboration will offer outbound and inbound money transfer services through Cebuana Lhuillier mobile app.

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Philippines: House Panel OKs Bill Promoting Rural Financial Inclusion

The measure will promote financial inclusion and literacy especially to those living in rural and underdeveloped areas to ensure equitable access to financial technology.

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Philippines: QR Code Transactions Near P1 Billion

The value of transactions using the QR (quick response) technology via the national QR code standard reached almost P1 billion as of end-May, as more Filipinos embrace digital channels amid the pandemic.

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Philippines: Microfinance, Micro-entrepreneurs to Gain From National ID System

The system's online authentication and e-KYC will enable a more seamless digital onboarding, making it easier for clients to open an account.

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COVID-19 Loans for MSMEs Reach PHP 4.3 Billion

The loans approved under the COVID-19 Assistance to Restart Enterprises program is said to have benefited 29,816 enterprises in the Philippines.

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Experian and FinScore to Raise Financial Inclusion in the Philippines via Alternative Credit Scoring

Through this partnership FinScore will intensify its focus on delivering alternative credit scoring to help financial institutions reduce high default rates and prevent fraudulent activity.

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New IFC Initiative Helps Banks in Mexico, Philippines, South Africa, Egypt Scale Climate Finance

The program is designed to increase climate lending by participating banks in Egypt, Mexico, the Philippines, and South Africa to 30 percent of their portfolios by 2030.