Banking & Insurance

A recent Metrobank survey reveals that Filipinos’ reasons for saving change as they move through different life stages. Younger adults save mainly for financial security and personal needs, working adults focus on buying a home or funding travel, and middle-aged Filipinos prioritize retirement and their children’s education.

Globe and the Bank of the Philippine Islands (BPI) are testing a new security technology called Silent Network Authentication (SNA), which aims to make digital banking safer and easier. The Proof of Concept (POC) is part of Globe’s G Verify platform, which uses real-time network data and secure APIs to verify users without requiring one-time passwords (OTPs) or SMS codes.

Some 3.2 million Filipino workers received assistance through Pag-IBIG Fund’s short-term loan (STL) programs from January to October this year, a 28 percent jump from the 2.5 million borrowers recorded in the same period last year, agency officials announced Monday, December 1.

The Bangko Sentral ng Pilipinas (BSP) recognized the country’s top financial education advocates and formalized a new digitalization partnership with the Department of Information and Communications Technology (DICT) during the Financial Education Stakeholders’ Congress held on 17–18 November at the BSP head office in Manila.

The Government Service Insurance System (GSIS) has reopened its renovated Zamboanga City branch and launched a Digital Business Center to improve services for nearly 48,000 members and pensioners.