The Securities and Exchange Commission (SEC) has cancelled the lending license of Copperstone Lending, which operates online lending platforms (OLPs) Quickla, Pococash, Blue Peso, Peso Forrest, Moca Moca, Pesobuffet, and Load Cash, for its unfair debt collection practices and its failure to disclose the true and correct terms of loan contracts with borrowers. In an order dated April 11, the SEC Financing and Lending Companies Division (FinLend) found that Copperstone Lending violated Republic Act No. 3765, or the Truth in Lending Act (TILA), as well as SEC Memorandum Circular No. 18, Series of ..read more

The Securities and Exchange Commission (SEC) said it is working with tech giants Google and Apple for the removal of applications operated by cryptocurrency giant Binance in app marketplaces accessible in the Philippines. In separate letters addressed to Google and Apple dated April 19, the SEC has requested for the removal of applications controlled by Binance.com from Google Play Store and the Apple App Store, respectively. “The SEC has identified [Binance] and concluded that the public’s continued access to these websites/apps poses a threat to the security of the funds of investing Filipin ..read more

New research from global cloud communications platform Infobip has revealed how conversational customer experiences and generative AI developments have created a long-lasting impact for the way people and brands interact. Infobip analyzed more than 473 billion digital interactions on its platform in 2023 between businesses and consumers to identify the latest global business messaging trends. As consumers look for a deeper connection with the brands they buy from, the conversational messaging channels are seeing the fastest growth, the report said. In 2023, Infobip recorded a 137% increase in ..read more

nubia Philippines has launched in the country the newest variant of the nubia Neo series — the nubia Neo 2 5G, which succeeds the nubia Neo 5G. The new model of the series further elevates the capabilities of the nubia Neo 5G with new and upgraded features, all designed to offer a gaming experience with a thrill that lasts all day. Powered by the Unisoc T820 processor with an advanced 6nm EUV process, the nubia Neo 2 5G delivers high-quality phone performance without consuming too much of the device’s power. It boasts a 5G lightning-fast speed performance that supports fast downloads, uploads ..read more

The OnePlus brand is not as well-known as its corporate sibling Oppo, which are both owned by parent company BBK Electronics.  But if there’s a way to describe its relationship to each other, it might be this: it’s like Lexus to Toyota. Yes, it’s a premium brand compared to Oppo, which, by the way, is also as affordable – but reliable – as a Toyota car. The OnePlus 12R is a credible proof that this brand is indeed serious on its attempt to take a slice of the high-end market dominated by the likes of Apple and Samsung. Right off the bat, you can feel the “premium-ness” in the way it was p ..read more

Two teams from the Philippines triumphed recently at the 8th Huawei ICT Competition Asia-Pacific 2023-2024 organized by Huawei and co-hosted by Asean Foundation at the Asean headquarters in Jakarta, Indonesia. Two Filipino student teams topped two of the four categories featured in the technology contest for students and will now represent the Philippines at the Global Finals of the Huawei ICT Competition in Shenzhen, China in May 2024. Cebu Institute of Technology – University (CIT-U), represented by Thomas Danjo Manulat, Adrian Sajulga, Tristan James Tolentino, and Instructor Dr. Eugene Busi ..read more

The National Economic and Development Authority (NEDA) has underscored the need to accelerate its efforts to achieve its goal of reaching the 43rd rank from 56th among 132 world economies by 2028 by promoting a culture of innovation and entrepreneurship and scaling up technology innovation, utilization, and commercialization. This was stressed by NEDA secretary Arsenio Balisacan during the celebration of the 2024 National Innovation Day on Monday, April 22, at the Novotel Manila Araneta City in Quezon City where he also emphasized strong support for market-driven and customer-centered research ..read more

A total of 287,413 ransomware incidents were detected by Kaspersky cybersecurity solutions for businesses in Southeast Asia (SEA) from January to December 2023. Experts from the cybersecurity company urged organizations, regardless of shape and size, to beef up their IT security posture as ransomware, especially the targeted type, continues to be a damaging menace for organizations in the region. “The era of widespread mass attacks by encryptors on both individuals and businesses is gradually fading away. Instead, we are witnessing a shift towards organized groups that execute hacks involving ..read more

A newly organized organization of digital banks in the Philippines said global and local investors have poured over $700 million into the digital banking sector, setting a new milestone that underscores the industry’s robust growth and its potential to reshape the digital financial landscape.  In a sign of investor confidence, digital banks have attracted substantial capital since 2021 and are now showcasing extraordinary growth, with depositor numbers reaching 5.9 million at the end of 2023 alone.  The surge in depositor numbers accompanied a remarkable increase in deposits, from ov ..read more

Global and local investors have poured over $700 million into the digital banking sector, setting a new milestone that underscores the industry’s robust growth and its potential to reshape the digital financial landscape.  In a sign of investor confidence, digital banks have attracted substantial capital since 2021 and are now showcasing extraordinary growth, with depositor numbers reaching 5.9 million at the end of 2023 alone.  The surge in depositor numbers accompanied a remarkable increase in deposits, from over P35 billion at the end of 2022 to P69 billion at the end of 2023, and ..read more