Fintech PR

GCash marks 20 years of pioneering digital financial inclusion in the Philippines and beyond

Published

1 week ago

October 9, 2024

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The Philippines’ top finance super app makes history as country’s only $5 billion unicorn

MANILA, Philippines, Oct. 9, 2024 /PRNewswire/ — Rooted in its mission to democratize financial services, GCash, the leading finance app in the Philippines, celebrates 20 years of commitment to digital financial inclusion as the nation’s first unicorn with a valuation exceeding $5 billion. This milestone highlights GCash’s global influence and its role in empowering users in the Philippines and across the world.

By consistently delivering innovative and accessible financial solutions, GCash stands out as one of the few financially sustainable fintech companies worldwide, dedicated to bridging the financial divide for underserved communities.

Key investments from Ayala Corporation, one of the Philippines’ largest and most diversified conglomerates, and Mitsubishi UFJ Financial Group (MUFG), Japan’s leading financial institution, have more than doubled GCash’s valuation from $2 billion in 2021. This recent funding round, which saw Ayala and MUFG each acquire an additional 8% stake in Mynt, the parent company of GCash, further solidifies GCash’s position as a trailblazer in financial inclusion across Southeast Asia.

“These past 20 years, we have made strides to provide more Filipinos with access to financial services. Now, we want to take it a step further and be their partner towards financial health and wellness,” GCash President and CEO Martha Sazon said. “Encouraged by the vision set by the Bangko Sentral ng Pilipinas and the United Nations towards digital financial inclusion, we will keep innovating to help Filipinos thrive everyday, be ready for a rainy day, and prepare for one day.”

Redefining financial access

Since its inception, GCash has prioritized how technological innovations can help promote financial inclusion. Before the pandemic, only 29% had bank accounts, less than 1% had access to investments, and 2% held credit cards. With 47% of the population still unbanked, GCash leveraged digital tools to significantly broaden access to digital financial services. Beyond basic transactions, the finance super app offers innovative in-app credit services and affordable lending products like GCredit, GLoan, and GGives and has disbursed PHP 155 billion to 5.4 million unique borrowers, including underserved segments.

In wealth management and insurance, GFunds has on boarded 6.6 million users and handles 3 in 4 UITF transactions. Meanwhile, GStocks represents 1 in 5 PSE accounts with 682,000 users and GInsure protects 7.8 million Filipinos with 28 million policies sold, making investment products and financial protection more inclusive and responsive to the needs of Filipinos.

Financial empowerment across the Philippines and beyond

GCash’s influence extends far beyond the country, solidifying its position as a global player in fintech. Through international remittance services, GCash Overseas, and Global Pay, GCash caters to the needs of millions of Overseas Filipino Workers (OFWs) and provides seamless financial services across borders. GCash Overseas allows Filipinos abroad to create GCash accounts using their international mobile numbers and send money back home, pay bills, and more from 16 countries and territories. Meanwhile, Global Pay enables Filipinos to use their GCash app in 47 countries at over 3 million merchants worldwide. This global expansion has also allowed GCash to become the second most-used finance app in the UAE, underscoring its global relevance.

GCash’s services have not only increased the number of accounts but also redefined the demographics of financial inclusion. In fact, 90% of GCash users come from lower-income classes, 57% are women, and 74% reside outside Metro Manila. This inclusivity is a testament to GCash’s commitment to being a “champion of digital financial inclusion,” helping Filipinos thrive in their everyday lives, wherever they are.

A sustainable and inclusive future for all

Beyond financial inclusion, GCash is also committed to environmental and social sustainability, making it one of the few financially sustainable fintech companies globally. Through its GForest initiative, GCash has mobilized 17 million users to plant over 2.8 million trees, reducing carbon emissions by 138,000 metric tons. This reforestation effort not only contributes to environmental conservation but also provides livelihoods for over 8,600 farmers.

By continually evolving and expanding its offerings, GCash is poised to solidify its status as a leader in the global fintech arena, driving transformative change that not only helps Filipinos thrive every day but also enhances the broader financial ecosystem beyond the Philippine borders.

About GCash

GCash is the Philippines’ #1 Finance Super App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. Its mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only $5 billion unicorn in the Philippines.

GCash is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.

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Fintech PR

FP Markets Team Attends Forex Expo Dubai 2024 And Brings Home Two Awards

Published

1 hour ago

October 16, 2024

CISION (PR Newswire)

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SYDNEY, Oct. 16, 2024 /PRNewswire/ — FP Markets, a global multi-asset Forex and CFD broker, participated in the Forex Expo Dubai 2024 earlier this month. The largest trading event in the Middle East took place in Dubai, UAE, from 7-8 October and drew an impressive 18,000 visitors this year.

The FP Markets Team was invited to participate in two segments: ‘Future Trends in Financial Technology’ and ‘Women in Forex’. Martin Stoilov, Head of Customer Experience at FP Markets, delivered an insightful talk on how Artificial Intelligence and the human element can work together to create authentic customer experiences. Additionally, and as part of the event’s newly-inaugurated segment ‘Women in Forex’, Global Head of Marketing, Andria Phiniefs, led a panel discussion on the crucial part women play in the industry, the challenges they face, and how they can be empowered to take on more leadership roles.

The event concluded with an awards ceremony on Tuesday evening during which the FP Markets Team received two outstanding achievement accolades. Andria Phiniefs was recognised as ‘Mentor of the Year’, and the FP Markets Research Team, headed by Market Analyst Aaron Hill, was presented with the ‘Excellence in Technical Analysis’ award.

Commenting on FP Markets’ presence and achievements at the Forex Expo Dubai 2024, Global Head of Marketing, Andria Phiniefs, stated: ‘For the Team to be invited to talk as experts in their respective fields, as well as awarded for outstanding contributions, is testament to our brand’s culture. We are proud to be part of an ecosystem that encourages agility and adaptability, pushing the boundaries of innovation forward. At FP Markets, our belief in the power of knowledge extends to both our Clients and Team: knowledge sharing happens internally and externally. Striving to be more than just another broker, all our efforts will continue to focus on furthering our Clients’ trading knowledge and delivering a superior investing experience’.

Notes to Editors

About FP Markets:

FP Markets is a Multi-Regulated Forex and CFD Broker with over 19 years of industry experience.
The company offers highly competitive interbank Forex spreads starting from 0.0 pips.
Traders can choose from leading powerful online trading platforms, including FP Markets’ Mobile App, MetaTrader 4, MetaTrader 5, WebTrader, cTrader, Iress and TradingView.
The company’s outstanding 24/7 multilingual customer service has been recognised by Investment Trends and awarded ‘The Highest Overall Client Satisfaction Award’ over five consecutive years.
FP Markets was awarded ‘Best Value Broker – Global’ for six consecutive years (2019, 2020, 2021, 2022, 2023, 2024) at the Global Forex Awards.
FP Markets was awarded the ‘Best Broker – Europe‘ and the ‘Best Forex Partners Programme – Asia‘ at the Global Forex Awards (2022, 2023, 2024).
FP Markets was awarded ‘Best Trade Execution’, and ‘Most Trusted Broker’ and ‘Best Trade Execution’ at the Ultimate Fintech Awards in 2022 and 2023, respectively.
FP Markets was crowned ‘Best CFD Broker – Africa‘ at the 2023 FAME Awards.
FP Markets was awarded ‘Best Trade Execution’ and ‘Most Transparent Broker’ at the Ultimate Fintech Awards APAC 2023.
FP Markets was awarded the ‘Best Price Execution’ at the Brokersview Awards 2024, Singapore.
FP Markets was awarded the ‘Best Trading Experience – Africa‘ at the FAME Awards 2024.
FP Markets was awarded ‘Most Transparent Broker’ and ‘Best Trading Conditions’ at the Global Ultimate Fintech Awards 2024.
FP Markets was awarded ‘Best Forex Spreads APAC’ and ‘Best Trading Experience APAC’ at the 2024 Finance Magnates Pacific Summit.
FP Markets regulatory presence includes the Australian Securities and Investments Commission (ASIC), the Financial Sector Conduct Authority (FSCA) of South Africa, the Financial Services Commission (FSC) of Mauritius, the Cyprus Securities and Exchange Commission (CySEC), the Securities Commission of the Bahamas (SCB), and the Capital Markets Authority (CMA) of Kenya.

For more information on FP Markets’ comprehensive range of products and services, visit https://www.fpmarkets.com/

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Fintech PR

Birla Carbon Announces the Launch of its first Asia Post Treatment Plant in India

Published

3 hours ago

October 16, 2024

CISION (PR Newswire)

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The state-of-the-art plant will provide specialty products for the coatings and inks markets from India

MUMBAI, India, Oct. 16, 2024 /PRNewswire/ — Birla Carbon, one of the leading manufacturers and suppliers of high-quality carbon-based solutions, announced the launch of its first Asia Post Treatment (APT) Plant in India. The brownfield initiative is located at the Patalganga unit, in the state of Maharashtra, India. This cutting-edge facility, equipped with the latest treatment technology, is set to revolutionize the carbon black industry by offering the highest levels of flexibility, efficiency, and precision. The plant will serve the fast-growing demand for high-performance carbon black grades in key industries like coatings and inks.

Sharing his thoughts on the launch, Rajeev Sonthalia, Director, Birla Carbon, said, “The launch of the Asia Post-Treatment Plant at Patalganga marks a significant milestone in Birla Carbon’s journey toward creating and deploying cutting-edge technology solutions for our customers. Asia is an emerging market for the carbon black industry and the strategic location of this plant will encourage innovation with our partners.” He further added, “This brownfield facility will enable Birla Carbon to leverage its global reactor capabilities, operating at the highest yields and efficiency. The precision in the manufacturing technology ensures that our products meet the highest standards of quality and performance, catering to the specific needs of our diverse customers, both regionally and globally. And by doing so, we enrich the lives of our consumers and inspire trust with our partners.”

The Asia Post Treatment Plant facility’s advanced technology ensures precise control over reaction times, facilitating the production of ultra-high-performance grades that are tailored to specific customer needs. With its ability to meet stringent clean product standards, the APT facility offers a distinct advantage over traditional products, positioning Birla Carbon as a market leader in delivering sustainable, high-quality solutions.

Sharing his thoughts on this new milestone, John Loudermilk, President and Chief Executive Officer, Birla Carbon, said, “The launch of our Asia Post Treatment Plant reflects our long-term commitment towards the industry and the businesses we serve. This facility enables us to support our customers more effectively while reinforcing Birla Carbon’s position as a thought leader in developing sustainable, high-performance carbon-based solutions for the future.” He further added, “This treatment facility strengthens our commitment to meeting global demand in high-growth sectors and leading the carbon black industry towards greater sustainability and efficiency. By prioritizing innovation and sustainability in every aspect of our operations, we are not just responding to current needs; we are anticipating future demand and setting new standards for quality, reliability, and environmental responsibility. Thus living our purpose to ‘Share the Strength’”.

In addition to its broader range of applications, including packaging inks and automotive and industrial coatings, the ATP facility is strategically designed to tap into niche markets such as toys and tool coatings, where the demand for low PAH products is rapidly growing.

Located in Patalganga, India, the plant provides key advantages such as proximity to emerging Asian markets. It serves as a key backup to Birla Carbon’s North Bend facility in the USA.

About Birla Carbon

Birla Carbon is one of the leading global suppliers of carbon-based solutions. As one of the flagship businesses of the leading Indian multinational conglomerate, the Aditya Birla Group, Birla Carbon provides innovative, sustainable carbon black solutions that enhance the performance of paints and coatings, inks and toners, plastics, adhesives, sealants, textile fibers, mechanical rubber goods, and tires, Energy Systems, Carbon Nanotubes, and Sustainable Carbonaceous Material. The company operates in 14 countries, boasting 17 manufacturing facilities and three cutting-edge technology centers in Marietta (USA), Taloja (India), and Sambreville, Belgium, showcasing forefront innovation in the industry. Birla Carbon’s Sustainability Strategy – Share the Future report focuses on employee safety, environmental stewardship, efficient use of carbon sources, and operating in a socially and ethically responsible manner.

For more information, visit https://www.birlacarbon.com or follow us on LinkedIn, Twitter, Facebook, or Instagram.

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Fintech PR

Precisely Celebrates Customer Achievements with Precisely Data Integrity Awards

Published

4 hours ago

October 16, 2024

CISION (PR Newswire)

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BMW Group, Chamberlain Group, FERC, Generali Real Estate, and NZ Super Fund Honored at Trust ’24

BURLINGTON, Mass., Oct. 16, 2024 /PRNewswire/ — Precisely, the global leader in data integrity, today announced the winners of the inaugural Precisely Data Integrity Awards at Trust ’24, the company’s annual Data Integrity Summit. The award ceremony took place at Drexel University’s LeBow College of Business in Philadelphia on October 8, with recipients from around the world recognized for their outstanding achievements in AI Impact, Business Impact, and Societal Impact categories, using Precisely software, data, and services.

The Data Integrity Awards recognize Precisely customers who have achieved excellence in data integrity through innovative use cases and demonstrated results. The winners include:

BMW Group: World-leading premium manufacturer of cars and motorcycles uses the Precisely Data Integrity Suite to seamlessly connect its extensive mainframe environment to modern cloud technologies and platforms such as Kafka. Achieving outstanding performance and near real-time replication for automating data pipelines to support over 600 applications, BMW is modernizing its mainframe systems while maintaining operational integrity.
Chamberlain Group: Global leader in intelligent access uses Precisely Automate solutions to simplify and govern its SAP workflows, querying real-time information for data validation. The company experienced an 87% improvement in time savings, resulting in greater productivity and generating noteworthy benefits for its customer care team.
FERC (Federal Energy Regulatory Commission): This independent US agency uses the Precisely Data Integrity Suite to centralize and automate data cataloging and stewardship, replacing their legacy system with modern tools that streamline asset registration and governance processes. FERC has significantly reduced time and resources for maintaining the catalog, while enhancing data stewardship and improving data-driven decision-making across the commission.
Generali Real Estate – City Forward: One of the first real estate asset managers to establish a dedicated AI and machine learning innovation division uses high-integrity enrichment data from Precisely to train their models, reduce bias, and deliver more contextually relevant results for its City Forward® platform. This enables the business to make smarter decisions powered by highly accurate AI-driven insights, disrupting the traditional decision-making processes that inform investment strategies.
New Zealand Superannuation Fund (NZ Super Fund): New Zealand’s sovereign wealth fund is using the Precisely Data Integrity Suite to enable users to find, understand, and access their data. The organization has empowered their investment analysts and teams with trusted data to make more confident business decisions.

“We are incredibly proud to honor these exceptional organizations for the impressive achievements they have accomplished on their journey to data integrity,” said Kevin Ruane, CMO at Precisely. “As our first-ever Data Integrity Awards it was exciting to see the enthusiasm and passion from Precisely customers around the globe. Each company has a unique data story to tell, and it was truly a pleasure to recognize and celebrate with our customers at Trust ’24.”

About Precisely

As a global leader in data integrity, Precisely ensures that your data is accurate, consistent, and contextual. Our portfolio, including the Precisely Data Integrity Suite, helps integrate your data, improve data quality, govern data usage, geocode and analyze location data, and enrich with complementary datasets for confident business decisions. Over 12,000 organizations in more than 100 countries, including 93 of the Fortune 100, trust Precisely software, data, and strategy services to power AI, automation, and analytics initiatives. Learn more at www.precisely.com.

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