13 APAC Mobile Wallet and Digital Bank Leaders Sign up for New MSME Initiative to Accelerate Inclusion and Sustainability Efforts

13 APAC Mobile Wallet and Digital Bank Leaders Sign up for New MSME Initiative to Accelerate Inclusion and Sustainability Efforts

Tuesday, March 26, 2024

Programme Sirius (Sustainability Innovation for Regenerative & Inclusive Purpose), supported by 13 Asia-Pacific fintech leaders at its inaugural launch, was unveiled today to empower Micro, Small, and Medium-Sized Enterprises (MSMEs) in their transition towards sustainability, in line with the United Nations Sustainable Development Goals.

Programme Sirius is an industry-led knowledge initiative that aims to support MSMEs operating on digital platforms in their journey towards sustainability. It will foster open industry dialogues where like-minded industry partners can exchange ideas on sustainability innovations and share best practices to supportMSMEs on their sustainability journey, helping their transition into a low-carbon economy, advancing their accessibility to sustainability financing, and uplifting MSMEs with new growth opportunities.

International Finance Corporation (IFC), a member of the World Bank Group, will collaborate with Ant International to develop and promote a set of Digital Sustainability Impact Management Toolkits in the next two years. These toolkits aim to empower MSMEs to adopt environmentally and socially friendly practicesto improve MSMEs’ access to sustainable finance through digitalization while driving the entire economy towards a low-carbon development path.

To support MSMEs in commencing their sustainability journeys, Gprnt, an initiative by the Monetary Authority of Singapore, will collaborate with Ant International to provide a technology-enabled reporting solution for MSMEs to embark on simplified sustainability disclosures against basic Environmental, Socialand Governance (ESG) metrics. Gprnt will further augment Programme Sirius by sharing how MSMEs can better harness data and technology to gain access to sustainable business, finance, and supply chain opportunities.

At the launch, 13 industry partners from 11 economies have committed to be part of Programme Sirius:AlipayHK (Hong Kong SAR, China), ANEXT Bank (Singapore), Bigpay (Malaysia), bKash (Bangladesh), DANA (Indonesia), GCash (the Philippines), Hipay (Mongolia), Kakao Pay (Republic of Korea), MPay (Macao SAR, China), TNG Digital (Malaysia), TossPay (Republic of Korea), TrueMoney (Thailand) and Zalopay (Vietnam).

Corporates and businesses today face increasing reporting requirements from regulators, financial institutions, and supply chain partners to disclose and track their sustainability performances. Small Medium Sized Enterprises (“SMEs”) represent 90% of all businesses and 50% of employment worldwide1, yet their limited size means they lack the capability and data collection mechanism for sustainability related reporting. MSMEs, which form key components of larger firms’ supply chains, face even greaterchallenges from the complexities of the reporting landscape, insufficient resources, and know-how to generate basic sustainability reports, and high cost of employing technological solutions and consulting services to develop effective sustainability reporting solutions.

With multinational companies aiming to curtail their carbon footprint and extending these expectations to their suppliers, local merchants could gain competitive edge by embracing sustainability. To facilitateMSMEs, including those operating in digital channels, to transition towards sustainability, there is a greaturgency to call for industry collaborative efforts and innovations to help in addressing these key areas of challenges.

“We always talk about financial and digital inclusion, but sustainability inclusion for MSMEs is becoming one of the most pressing challenges,” said Leiming Chen, Chief Sustainability Officer, Ant International. “As these merchants play an increasingly important role in the global and local economies,there is a need to provide them with the right mindset, knowledge, and resources to take climate action.Given the complexities of the task, ranging from taxonomy and governance framework to cost and education, it requires collective effort across public and private sectors, industries, and markets to drive this change. With our experience in innovation-led sustainability and MSME programs, Ant International is proud to join partners like the Gprnt and IFC, and other industry partners of the Programme Sirius likeGCash to unlock opportunities for MSMEs as they transform to become more sustainable.”

“MSMEs are the backbone of any growing economy. With this, GCash has become their bridge to digital byproviding essential tools – transforming the way they do business. We remain committed to helping FilipinoMSMEs achieve progress through democratized financial services, especially with easy access to credit,” commented Martha Sazon, President and Chief Executive Officer of GCash.

“MSMEs are the backbone of the Asia-Pacific economy, accounting for more than 97 percent of its businesses and employing over half its workforce. Meanwhile, our region accounts for three-fifths of globalemissions from power generation and includes many countries vulnerable to climate change,” saidChristina Ongoma, Upstream and Advisory Manager, Financial Institutions Group, East Asia and the Pacific, IFC. “The sustainable growth of MSMEs is of great importance, as it not only creates jobs and drives economic growth, but also paves the way for a better future for all.”

Sopnendu Mohanty, Chief FinTech Officer, Monetary Authority of Singapore, said: “The widespread adoption of digital wallets and payment solutions makes them a key enabler for helping smaller businesses commence their sustainability journeys. Industry initiatives like Programme Sirius are important for the public and private sector to coordinate the tools, frameworks and technologies for smaller businesses to build their sustainability competencies as they transition into the green economy. The MAS is pleased tosupport Programme Sirius by leveraging its work on Project Savannah, which articulates a common starting point for MSMEs to report basic ESG information; and through the involvement of the newly established Gprnt platform, which harnesses technology and automation to simplify how MSMEs report such information. We look forward to Programme Sirius bringing together global financial institutions and payment providers, to collectively power more inclusive and sustainable growth for MSMEs around the world.”

Read More

Skyro reports strong 2023 performance, expected to triple in 2024 as it expands digital financial offerings for Filipinos

Skyro reports strong 2023 performance, expected to triple in 2024 as it expands digital financial offerings for Filipinos

Sunday, March 3, 2024

Skyro, a fast-growing fintech provider in the Philippines, continues its commitment to transform the local financial landscape by delivering accessible and affordable digital financial solutions to Filipinos.

Skyro is committed to empowering more Filipinos by offering a range of digital consumer finance products such as product loans, cash loans, and other lending products designed to meet the diverse financial needs of Filipino consumers. These solutions offer a streamlined process, competitive rates, and diverse payment options, providing customers with flexibility and convenience.

Achievements and Business Performance in 2023

In just under two years since its inception as a fintech startup, Skyro has achieved significant milestones and business performance in the fintech industry by the end of last year.

Skyro has recorded significant growth in both applications and usage as it gains traction among new markets and diverse user groups. Notably, in 2023 alone, Skyro achieved an average Compound Monthly Growth Rate of 50%, a testament to the rapid trust and adoption placed in the company’s innovative financial solutions.

Skyro's mobile app had an increase in its number of new and active users by 82.5%, leading to a proportional rise in total app downloads and usage. The brand has grown its network with over 500 partner merchants and a presence in over 2500 stores nationwide. It has also expanded its workforce from less than a hundred to more than a thousand employees.

Its product loan solution has shown exceptional growth in 2023, generating substantial results more than its initial value. Similarly, the cross-sell products have delivered remarkable outcomes in usage.

Outstanding Performance Under Expert Leadership

Skyro’s co-founders and co-CEOs Nasim Aliev and Arsen Liametov have been instrumental in the company's growth and success. 

With a strong experience in financial technology and business development, Aliev oversees key areas such as sales, partnerships, marketing, and customer acquisition, garnering trust from both customers and partners. On the other hand, Liametov is focused on optimizing Skyro's offerings, utilizing his extensive understanding of fintech products and operations. His main areas of expertise include ensuring smooth integration and efficient functioning of Skyro's digital services, all with the goal of meeting market demands while delivering maximum value to Filipino customers.

"At Skyro, our mission is to bring joy into every interaction our customers have with our financial products," shared Nasim Aliev. "We prioritize accessibility, simplicity, and flexibility, supported by an exceptional customer experience. By leveraging a compelling model, we've managed to reduce risk two-fold while achieving profitability, showcasing our strategic foresight and commitment to sustainable growth. We want to create a future where every Filipino has access to the right financial tools and knowledge for achieving success.”

Liametov added, "Our dedication to innovation and customer satisfaction remains unwavering. With a focus on continuous improvement and expansion, we're poised to reach new heights in 2024 and beyond. Skyro is committed to empowering individuals with the financial solutions that would cater to their ever-evolving needs and lifestyles."

Looking ahead to the rest of 2024, Liametov said, "As we anticipate the year ahead, we're filled with optimism, expecting even greater growth and impact for Skyro."

Skyro aims to continue its impressive trajectory into 2024, with expectations of tripling its growth and onboarding half a million customers by the year's end. This ambitious goal underscores Skyro's commitment to expanding its reach and impact in the digital financial landscape of the Philippines, further solidifying its position as a key player in the industry's evolution.

Skyro is a fintech company duly licensed and supervised by the Securities and Exchange Commission (SEC). To learn more about digital financial products from Skyro, visit its official website www.skyro.ph. Follow its official Facebook and Instagram accounts to know more about its latest promos and offerings.

Read More

Bayad Revolutionizes Bill Payments: A Leap into the Future at the 2023 Singapore Fintech Festival

Bayad Revolutionizes Bill Payments: A Leap into the Future at the 2023 Singapore Fintech Festival

Friday, December 22, 2023

Bayad, the Philippines' largest multi-channel payment platform, recently took center stage at the 2023 Singapore Fintech Festival, reaffirming its commitment to transforming financial technology and expanding its global footprint. President and CEO Lawrence Y. Ferrer presented a compelling vision for the role of bill payments in catalyzing digital economic growth in the Philippines.

Fueling Progress: Bill Payments as the Catalyst for Digital Economic Growth

In his insightful presentation, Mr. Ferrer underscored the pivotal role of bill payments in the Philippine economy. With the country ranking among the top receivers of global remittances, a digital shift in payment behavior is evident, projected to reach at least 50% in 2023. This aligns with the Digital Payments Transformation Roadmap of the Bangko Sentral ng Pilipinas, reflecting the growing preference for digital transactions.

Bayad's Response to the Digital Wave

The surge in digital transactions in the Philippines, constituting 9.4% of the GDP in 2022, prompted Bayad to adapt. Lawrence Y. Ferrer expressed Bayad's commitment to meeting the demands of Filipinos for secure and convenient bill management solutions globally.

Bayad's Role in the Bill Payment Industry

Having served as a trusted brand for 26 years, Bayad has evolved into the premier bill payments aggregator. Boasting an extensive ecosystem, Bayad caters to over 3,000 biller brands, covering a diverse range of services. With over 400,000 physical touchpoints and connectivity to 80 million subscribers, Bayad stands as a unifying force in the bill payment industry.

Bayad Overseas Empowers Global Filipinos

Bayad Overseas, a groundbreaking initiative, enables Filipinos worldwide to conveniently pay bills in the Philippines. Specifically designed for Overseas Filipino Workers (OFWs), Bayad Overseas ensures secure, convenient, and reliable bill payments, enriching the financial experiences of global Filipinos.

Partnership for the Future

In concluding his presentation, Mr. Ferrer extended an invitation to potential partners, emphasizing Bayad's commitment to integrity, reliability, and trust. With a mission to shape a better world of fintech, Bayad seeks collaborations that fuel the expansion of the global digital economy.

Bayad's active participation in the 2023 Singapore Fintech Festival included a booth exhibition, where it showcased its extensive biller ecosystem alongside more than 500 fintech companies worldwide. Mr. Ferrer highlighted Bayad's role as the biller aggregator of choice, offering a faster time-to-market approach.

Bayad's presence at the 2023 Singapore Fintech Festival signifies a significant stride toward its mission of empowering individuals and businesses with seamless and convenient bill payment solutions on a global scale. As Bayad continues to revolutionize the fintech landscape, it invites forward-looking partners to join hands in shaping a future where financial transactions are secure, convenient, and accessible for all.

Read More

Bayad seals partnership with Tala, enabling convenient bills payment services

Bayad seals partnership with Tala, enabling convenient bills payment services

Friday, September 29, 2023

CHAMPIONING DIGITAL FINANCIAL INCLUSION: Executives of Bayad and Tala on their partnership signing. Seen in the photo (from L-R) are Tala President and Head of Finance Charisse Alvarez, Tala Chief Business Officer Jori Pearsall, Bayad President and CEO Lawrence Y. Ferrer, and Bayad Chief Commercial and Marketing Officer Dennis S. Gatuslao.

Two fintech innovators – CIS Bayad Center, Inc. (Bayad), the country’s pioneer brand in the outsourced payment collection system, and Tala Financing Philippines, Inc. (Tala) - a global leading money app for the underbanked, has officially sealed its partnership, sharing the same goal of elevating the financial experience of Filipinos.

Since 2017, Tala has been providing financial tools that help its customers manage their household expenses and help them navigate opportunities to invest in small businesses. Tala has recently reached one million wallet users on its mobile application since its official launch earlier this year. Through its partnership with Bayad, Tala now enablesMeralco bill payments in its mobile application, while also offering quick and easy ways to pay loans, allowing its customers to settle their bills on time. 

Today, Tala customers can now pay their bills in real time using their credit of up to PHP25,000 all within the Tala app. With its flexible credit terms, customers have the freedom to choose when to repay within 61 days, aligning with their respective income cycles.

Bayad President and CEO Lawrence Y. Ferrer shared, “We continue to strengthen our digital footprint by co-creating payment innovations with forward-thinking fintech institutions like Tala. We are one with Tala as we help boost the financial well-being of our kababayans. We are keen on expanding our biller ecosystem as we bring our one-stop bills payment solution in the Tala App. With this, Tala will also soon be able to accept payments for other electric and water utilities, telecommunications, cable, internet, insurance, online shopping, and many others.”

Tala’s Chief Business Officer Jori Pearsall added, “We believe everyone deserves access to financial services, regardless of their background or circumstances. As the Philippines is Tala’s innovation hub, and its largest market in Asia, we view this collaboration with Bayad as part of our ongoing commitment to financial inclusion as we step up to help revive our economy.”

For fintech institutions like Tala that are interested to be part of Bayad’s extensive channel network, you may send an email to partnerships@bayad.com. Bayad enables partners to attain nationwide presence and provides end-to-end support services for efficient payment and collection processing.

Read More