Lawmakers have filed a measure seeking to create the country’s first formal system for consumer-controlled financial data sharing, alongside a new independent commission, to help millions of Filipinos prove their credit standing and gain easier access to financial services.

GoTyme Bank has partnered with the Philippine Statistics Authority to become one of the first local banks to connect directly to the National ID Authentication Services. This integration lets customers open accounts in as fast as five minutes without scanning or uploading physical papers. Instead, they may use their PhilSys ID QR code, card number, or basic name and birth details for real-time, official checks. The move removes common hurdles that keep many Filipinos from accessing banking services, supporting the bank’s goal of easier, more inclusive finance for all.

Maibarara Geothermal Inc. (MGI) has signed a deal with Lopez Group affiliate ThermaPrime Drilling Corp. to carry out exploratory drilling across Batangas and Laguna from 2026 to 2027. Led by the Yuchengco group, MGI said the work will check untapped areas for possible new geothermal power facilities. The project will involve up to four wells drilled to depths of up to 3,000 meters, with operations set to begin in October this year and finish by May 2027. MGI currently runs a 32-megawatt geothermal plant in Batangas.