Latest news with #LitoVillanueva
GMA Network
3 days ago
- Business
- GMA Network
Higala-RCBC tie up onboards 8 rural banks to InstaPay
In an effort to expand the digital footprint of rural banks, the partnership between Yuchengco-led Rizal Commercial Banking Corp. (RCBC) and homegrown instant payments infrastructure provider Higala Group Inc. has onboarded eight rural banks across the country to InstaPay. Higala and RCBC have jointly created Synerfi, an open payments platform that reduces barriers and accelerates the participation of smaller financial institutions in InstaPay. The companies developed Synerfi to help rural banks as well as microfinance institutions expand their digital transactions through InstaPay as 'traditionally, many rural and community banks have been excluded from the digital financial ecosystem due to regulatory and technological constraints.' Among the onboarded rural banks in Synerfi include Rural Bank of San Antonio Inc., Rural Bank of Lipa City (Batangas), Inc., Progressive Rural Bank Inc., Banco Abucay Inc., Rural Bank of Hermosa (Bataan) Inc., Money Mall Rural Bank Inc., First Philippine Partners Bank Inc. (A Rural Bank), and Lagawe Highlands Rural Bank, Inc. 'This marks the beginning of empowering the underserved banking sector by enabling them to offer digital banking services that are otherwise available only to mainstream and traditional banks,' said Winston Damarillo, president and CEO of Higala. "Connecting rural banks to Instapay and the wider digital ecosystem is not simply an act of digitalization, but a deeper commitment to accelerate financial inclusion in underserved areas. SynerFi continues to demonstrate its promise to drive financial access beyond urban areas and materialize the government's sustainable agenda," said Lito Villanueva, executive vice president and chief innovation and inclusion officer of RCBC. "RCBC is excited to welcome more participants with the shared mission to make banking services accessible to all Filipinos into the instant payment ecosystem," Villanueva added. The RCBC official said the bank and Higala are 'targeting 40 rural banks to be onboarded.' Under their partnership, Higala is providing the technology to operationalize SynerFi while RCBC is acting as the sponsor platform bank and manage the essential regulatory requirements, such as compliance, clearing, and settlement. 'SynerFi seeks to empower rural banks like Rural Bank of San Antonio to access world-class digital banking capabilities. Launching these services with zero capital intensity and without the heavy burden of building dedicated in-house tech and compliance teams is invaluable, enabling us to offer customers top-tier technology and services, truly digitizing our reach.' said Ronaldo Recto, president of the Rural Bank of San Antonio. Meanwhile, Higala also secured a fresh seed funding of $4 million from venture capitalists Talino Venture Studios, Chemonics International, Kadan Capital, Tenco Capital, and 1982 Ventures. 'Fresh funds from our investors will help accelerate Higala's capabilities of powering SynerFi and helping more financial institutions grow and expand their services to their customers and become active players in the digital economy,' Damarilio said. 'After successfully raising our target seed funding of $2.8 million, we've expanded our round to $4 million due to increased interest in Higala and signaling investor confidence in our product,' said Chemonics International president and CEO Jamey Butcher. —AOL, GMA Integrated News
Yahoo
14-03-2025
- Business
- Yahoo
16th annual RBI Asia Trailblazer Awards
The 16th edition of the RBI Asia Trailblazer Awards concluded last night in Singapore, celebrating the most transformative and forward-thinking achievements in retail banking across Asia Pacific. Recognising outstanding innovation, digital excellence and customer-centric strategies, the awards highlighted the institutions and individuals shaping the future of financial services in the region. The most prestigious accolades of the evening—the Asia Trailblazer of the Year 2025 awards—were presented to: Lito Villanueva, RCBC (Individual Award) – Honoured for his visionary leadership and pioneering efforts in advancing digital and inclusive banking solutions. United Overseas Bank (UOB) (Institution Award) – Recognised for its market-leading digital transformation initiatives and seamless cross-border banking connectivity. This year's winners demonstrated key industry trends, including AI-driven hyper-personalisation, cross-border banking innovations, financial inclusion and sustainability-focused banking models. Many submissions reflected banks' increasing investment in fintech partnerships, the expansion of seamless digital ecosystems and the evolution of embedded finance solutions to meet the needs of APAC's rapidly growing digital economy. Recognising the outstanding achievements of this year's winners, MEED's Banking & Finance Editor, Sarah Rizvi, said: "This year's winners set new benchmarks for excellence, showcasing how innovation is redefining the future of retail banking in Asia. From AI-powered personalisation to cross-border digital banking, the industry has made remarkable strides in meeting evolving customer expectations. The quality of submissions this year highlights the sector's dedication to driving financial inclusion and creating seamless, customer-centric experiences. Congratulations to all the winners for leading the way in this transformative journey.' The awards ceremony provided a platform for industry leaders to connect, reflect on key trends, and celebrate achievements that are shaping the future of banking in Asia. "The RBI Asia Trailblazer Awards 2025 brought together the best minds in retail banking for an evening of recognition and celebration,' said Sonia Kerrigan, Senior Commercial Director, MEED. 'This event not only honours outstanding achievements but also fosters dialogue on the future of financial services in Asia. It was inspiring to witness industry leaders coming together to share insights and celebrate innovation in banking. We look forward to seeing how these trailblazers continue to shape the industry in the coming years." The awards ceremony also honoured excellence across multiple categories, including digital banking, product innovation, customer experience and sustainable finance, reflecting the sector's continued evolution in response to shifting consumer needs and technological advancements. For the full list of winners and highlights from the event, visit "16th annual RBI Asia Trailblazer Awards – winners revealed" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
