THE global rise of Banking-as-a-Service (BaaS) has been a transformative force in the financial industry, reshaping the way institutions interact with customers.
THE global rise of Banking-as-a-Service has been a transformative force in the financial industry, reshaping the way institutions interact with customers.BaaS, powered by application programming interfaces , allows nonbanking entities to embed banking products into their platforms. This innovation has democratized access to financial services via inclusion and convenience for individuals and businesses worldwide.
Lito Villanueva, RCBC executive vice president, and chief innovation and inclusion officer, emphasizes the transformative potential of these efforts. By leveraging composable APIs, RCBC aims to transition into platform banking, which allows it to act as a hub for various financial and nonfinancial services.Customers, in turn, benefit from a seamless and integrated experience, where they can access services ranging from loans and payments to wealth management on a single platform.
The 'Digital Glue' Of Modern Banking
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Banking sector assets increase to almost P27TTHE total assets of the Philippine banking sector rose to P26.77 trillion as of end-September, data from the Bangko Sentral ng Pilipinas showed, up by 11.4 percent compared to the year-earlier P24.01 trillion.
Read more »
Banking propels SMIC 9-mo income to P60.9BSY family-led conglomerate SM Investments Corp. (SMIC) saw its consolidated net income for the first nine months of 2024 grow 9 percent to P60.9 billion from P55.9 billion a year ago.
Read more »
GCash, RCBC join forces for sachet banking initiative to empower rural FilipinosGCASH and the Rizal Commercial Banking Corp. (RCBC) will team up to make cash withdrawals in rural and remote areas more accessible for e-wallet service users. Through the grassroots-oriented and bank-agnostic ATM network, RCBC ATM Go, GCash users can use their QR scanners to withdraw funds from their accounts.
Read more »
Charles Tiu banking on 'tougher, deeper' Benilde in impending dogfight vs. MapuaAs De La Salle-College of Saint Benilde heads to the NCAA Season 100 finals round, the Blazers are seeing some semblance of their squad that reached that point two years ago.
Read more »
BSP: 2 foreign players keen on putting up Islamic banking ops in PHLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
RCBC Enhances Hexagon Club VIP Banking Program for Growing MembershipRizal Commercial Banking Corporation (RCBC) has upgraded its Hexagon Club VIP banking program, offering increased life insurance coverage, improved loan rates, and enhanced wealth management services for its expanding member base of emerging affluent and affluent clients.
Read more »