Philippines

Fintech / Regtech

BSP Directs Banks to Shift to Biometrics, Phases Out SMS OTPs

By Sanday Chongo Kabange | 09/03/2026

New draft rules require banks to adopt server-side biometrics for high-risk transactions to combat fraud, linking compliance to liability.

AML / KYC

Philippines Drafts Protocol to Reverse Fraudulent Transactions

By Sanday Chongo Kabange | 05/03/2026

The industry-wide framework aims to provide clearer and more reliable timelines for recovering funds stolen through scams and cyberattacks.

ESG / Sustainability

Philippines Finance Group, State Bank Launch ESG Guide

By Sanday Chongo Kabange | 05/03/2026

The guide provides practical advice on integrating ESG principles, with state-owned LANDBANK to distribute it to farmers and cooperatives.

Fintech / Regtech

Philippine Rural Banks Warn New Rules Could Stifle Inclusion

By Sanday Chongo Kabange | 05/03/2026

An industry group is urging the BSP to rethink proposed prudential rules, arguing that steep capital requirements and geographic limits could harm digitalisation.

Capital / Liquidity

Philippines Central Bank Reviews Lifting Maturity Cap for Salary Loans

By Sanday Chongo Kabange | 05/03/2026

The move aims to ease borrower debt burdens and provide repayment flexibility amid slowing national credit growth and calls from public sector employees.

AML / KYC

Philippines Doubles EDD Threshold for Cash Withdrawals to PHP 1 Million

By Sanday Chongo Kabange | 04/03/2026

The move aims to ease the burden on legitimate business transactions while allowing FIs to focus AML resources on higher-risk activities.

Fintech / Regtech

Philippines to Reopen Online Lending Market, Slashes Rate Cap

By Sanday Chongo Kabange | 04/03/2026

The SEC will end a three-year ban on new online lenders from 1 April, aiming to boost competition and enhance credit data infrastructure.

Securities / Derivatives

Philippines SEC Sets Out Regulatory Framework for Sukuk Issuance

By Sanday Chongo Kabange | 04/03/2026

The new framework details requirements for Shari'ah governance, issuer registration, disclosure, and continuing obligations to develop the country's Islamic capital market.

Fintech / Regtech

Philippines Proposes Open Finance Law to Widen Credit Access

By Sanday Chongo Kabange | 03/03/2026

Proposed law aims to create a consent-based data framework to improve financial inclusion, with a key focus on the education sector.