Arowana’s B Corp holding company will provide a succession and ownership transition pathway for B Corp founders seeking to exit but retain ethos of their businesses

Investment focus will initially be on ASEAN region but in time look to expand to other developing economies across MENA and Latin American regions with large and growing populations&nbsp;&nbsp;

SINGAPORE, 16 April 2025 (GLOBE NEWSWIRE) – Arowana &amp; Co.&nbsp; (“Arowana”), the global B Corporation investment group, announced today that it has launched a holding company headquartered in Singapore to specifically invest in companies committed to the B Corp triple bottom line of People, Planet and Profit across the ASEAN (Association of Southeast Asian Nations) region.

The primary purpose of this holding company, AIC Group Holdings, is to provide companies that are B Corp or want to become B Corp with an ownership succession pathway, which will respect and perpetuate the B Corp ethos and culture instilled by their founders.&nbsp; AIC Group Holdings is privately held.

In tandem with the launch of the holding company, Arowana has appointed Andrew Kassoy, co-founder of B Lab Global, the non-profit behind the B Corp movement, to the Advisory Board of AIC Group Holdings.&nbsp; In addition, Thomas Ng, a leading B Corp entrepreneur and founder of Genashtim, a fast-growing global social enterprise, has agreed to join the Advisory Board.

Arowana founder and chairman, Kevin Chin, commented: “We have been working on optimising a structure for two years and believe a holding company that has no restrictions in terms of investment entry and exit horizons is the best model that matches the succession and growth objectives of B Corp founders and their businesses. As a B Corp ourselves, we appreciate the dilemma that founders face in this regard. We consider Singapore to be the ideal headquarters for this holding company as we see many enterprises across the fast-growing ASEAN region that would be a good fit. This is consistent with Arowana’s broader strategy of pivoting our focus to developing markets across ASEAN and, in due time, Africa and Latin America with large and growing populations and economies.”

He further added: “I am honoured that two luminaries of the B Corp movement, Andrew Kassoy and Thomas Ng, have agreed to join the Arowana holding company advisory board members. Not only are Andrew and Thomas great stewards, but also world-class entrepreneurs who have led the scale-up of high-growth global enterprises. We expect to announce further additions to the advisory board and the holding company team in due course. Meanwhile, our team is already in exclusive due diligence processes on four proprietary investment opportunities in the ASEAN region that have come about because of Arowana’s veritable commitment to the B Corp ethos.”

Andrew Kassoy, co-founder of B Lab Global, commented: “Since the earliest days of the B Corp movement, we have seen first-hand the issues of succession and ownership transition faced by B Corp founders, especially when deliberating on acquisition proposals from non-B Corp entities. I am excited to join the Arowana B Corp holding company advisory board as I share the vision that Kevin Chin has in creating a permanent capital holding company structure with a genuine B Corp ethos that provides a compelling option for B Corp founders exploring succession and exit.”&nbsp;&nbsp;

Thomas Ng, B Corp steward and founder, said: “Having known Kevin Chin for some time and seeing first-hand his steadfast commitment to the B Corp values and mission, I am delighted to be joining the Arowana B Corp holding company advisory board. Across Genashtim’s operations in the ASEAN, African and Latin America regions, we see many businesses that the Arowana B Corp holding company would represent an attractive alternative to consider for succession and ownership transition.”

Arowana & Co., the global B Corporation investment group, announced that it has launched a holding company headquartered in Singapore to specifically invest in companies committed to the B Corp triple bottom line of People, Planet and Profit across the ASEAN. Arowana’s B Corp holding company will provide a succession and ownership transition pathway for B Corp founders seeking to exit but retain ethos of their businessesInvestment focus will initially be on ASEAN region but in time look to expand to other developing economies across MENA and Latin American regions with large and growing populations&nbsp;&nbsp;SINGAPORE, 16 April 2025 (GLOBE NEWSWIRE) – Arowana &amp; Co.&nbsp; (“Arowana”), the global B Corporation investment group, announced today that it has launched a holding company headquartered in Singapore to specifically invest in companies committed to the B Corp triple bottom line of People, Planet and Profit across the ASEAN (Association of Southeast Asian Nations) region.The primary purpose of this holding company, AIC Group Holdings, is to provide companies that are B Corp or want to become B Corp with an ownership succession pathway, which will respect and perpetuate the B Corp ethos and culture instilled by their founders.&nbsp; AIC Group Holdings is privately held.In tandem with the launch of the holding company, Arowana has appointed Andrew Kassoy, co-founder of B Lab Global, the non-profit behind the B Corp movement, to the Advisory Board of AIC Group Holdings.&nbsp; In addition, Thomas Ng, a leading B Corp entrepreneur and founder of Genashtim, a fast-growing global social enterprise, has agreed to join the Advisory Board.<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/f45010a2-13e6-4d4d-6b27-05222e4b8800/public" alt="Andrew Kassoy and Thomas Ng join the Advisory Board of AIC Group Holdings" />Arowana founder and chairman, Kevin Chin, commented: “We have been working on optimising a structure for two years and believe a holding company that has no restrictions in terms of investment entry and exit horizons is the best model that matches the succession and growth objectives of B Corp founders and their businesses. As a B Corp ourselves, we appreciate the dilemma that founders face in this regard. We consider Singapore to be the ideal headquarters for this holding company as we see many enterprises across the fast-growing ASEAN region that would be a good fit. This is consistent with Arowana’s broader strategy of pivoting our focus to developing markets across ASEAN and, in due time, Africa and Latin America with large and growing populations and economies.”He further added: “I am honoured that two luminaries of the B Corp movement, Andrew Kassoy and Thomas Ng, have agreed to join the Arowana holding company advisory board members. Not only are Andrew and Thomas great stewards, but also world-class entrepreneurs who have led the scale-up of high-growth global enterprises. We expect to announce further additions to the advisory board and the holding company team in due course. Meanwhile, our team is already in exclusive due diligence processes on four proprietary investment opportunities in the ASEAN region that have come about because of Arowana’s veritable commitment to the B Corp ethos.”Andrew Kassoy, co-founder of B Lab Global, commented: “Since the earliest days of the B Corp movement, we have seen first-hand the issues of succession and ownership transition faced by B Corp founders, especially when deliberating on acquisition proposals from non-B Corp entities. I am excited to join the Arowana B Corp holding company advisory board as I share the vision that Kevin Chin has in creating a permanent capital holding company structure with a genuine B Corp ethos that provides a compelling option for B Corp founders exploring succession and exit.”&nbsp;&nbsp;Thomas Ng, B Corp steward and founder, said: “Having known Kevin Chin for some time and seeing first-hand his steadfast commitment to the B Corp values and mission, I am delighted to be joining the Arowana B Corp holding company advisory board. Across Genashtim’s operations in the ASEAN, African and Latin America regions, we see many businesses that the Arowana B Corp holding company would represent an attractive alternative to consider for succession and ownership transition.”

Environment / SGDs / Recycling

International activity

Securities / FX / Investment Trusts

Arowana & Co., the global B Corporation investment group, announced that it has launched a holding company headquartered in Singapore to specifically invest in companies committed to the B Corp triple bottom line of People, Planet and Profit across the ASEAN.

Arowana launches S$120 million B Corp holding company out of Singapore, appoints B Lab Global co-founder Andrew Kassoy and Thomas Ng to Advisory Board

The 2025 Cyber Resilience Summit: Delivering Competitive Advantage Through Security held March 5-6 at the Crowne Plaza Manila is the first of its kind in the Philippines. The event featured top level experts from the Philippines and the SEA region representing government, finance and technology, banking and healthcare, BPM, advocacies and education, and the Armed Forces.

In a nutshell, the Cyber Resilience Summit homed in on the real-world dangers of cyber (in)security and threats. Throughout the two-day event, discourse and discussion from its top-notch resource speakers revolved on cyber-attacks and scams, online fraud, fake news, identity phishing.

Cited by the World Economic Forum as the #4 security risk globally, the Cyber Resilience Summit asked decision makers to prioritize cyber security at every level of enterprise and industry.

More importantly, the event focused on awareness and security, and how information and awareness supplemented massively by tough security measures are requisite and paramount to ensure public safety.

Not only in the Philippines, but across regional and global lines, and in the same velocity and speed as technology itself entities manipulate these advancements for criminal acts.

The World Economic Forum, among other experts state no absolute-100% security from cyber threats as these grow in intensity and at scale. Cyber resilience is imperative to protect data and maintain privacy, and to equip industries to recover from cyber attacks. At the Summit experts unanimously addressed measures that bring together human factors, organizational processes, and the latest technologies.

2025 Cyber Resilience Summit: Delivering Competitive Advantage Through Security featured, among others, the following talking heads expressing global perspectives.

Engr Jose Carlos P Reyes, Director of the Cybersecurity Bureau, Department of Information and Communications Technology - Securing the Digital Battlefield: Building a Resilient Digital Ecosystem

“Cyber security is not a solitary pursuit. We must foster collaboration across organizations, industries and even nations, like minded nations that is sharing threat intelligence and best practices enables us to stay ahead of attackers and improve our collective defenses. Resilience comes from being proactive. It's about identifying potential risks early, understanding the impact of those risks, and implementing controls to mitigate them before they turn into actual reaches in this rapidly evolving threat landscape, static defense mechanisms are insufficient.”

Ts Mohd Zabri Adil Bin Talib, Head of Responsive Technology &amp; Services, CyberSecurity Malaysia - E-Sovereignty and Cyber Resilience: Safeguarding Nations in the Digital Era

“Cyber security is basically an initiative, a layer of parameters to set up to prevent&nbsp; you from being harmed digitally. Cyber resilience is when your cyber security is solid and tested. Cyber resilience brings cyber trust—digital trust. Malaysia is focusing on (driving) the digital trust because when we have trust in the infrastructure, the public will use and participate with the digital economy as a whole country to push the national economy to the next level”

Mr. Jocel de Guzman, Founder and Co-Lead Convenor, ScamWatchPH and Founder &amp; President, Truth360 Inc - Cyber Resilience Starts Here: Building a Robust Human Firewall

“The problem globally is legislation in terms of how to catch up when it comes to the advancement of technology.&nbsp; There are some advancements in the lawmaking, but there’s still a lack. The weakest link in cyber security is the end-user. The Filipino digital user learned the technology on their own. While most top 500 corporations have cyber security infrastructure in place to protect their assets, The end-user is often neglected (in lawmaking discussions). Government agencies work in silos. Existing legislation has flaws, for example, the SIM card registration allows 1 individual the ability to register 1000 sim cards. Quoting Former DICT Secretary Ivan Uy, “Online scam is now bigger than illegal drug trade globally.”

Onil Jaia G. Leyda, Technical Solutions Consultant, ManageEngine - Future-Proofing Cybersecurity: Harnessing Emerging Tech for Resilience in 2025 and Beyond

“(Among many) AI attacks we should watch out in 2025 include advanced AI powered attacks, these are the AI generated phishing, social engineering and Deep Fake scams that target CEO and focus camps. Next, polymorphic and autonomous cyber attacks that mutate their code for the malware not to detect them and adapts to the security defenses of the users. Then we also have the weaponized AI for cyber, that do large scale attacks on government, banking, finance and patient.”

The 2025 Cyber Resilience Summit: Delivering Competitive Advantage Through Security key takeaways are:

Collaboration is Key Cybersecurity is a shared responsibility across organizations, industries, and nations. Threat intelligence sharing and best practices enhance collective defenses.

Cybersecurity acts as a protective layer, while cyber resilience ensures security systems are solid and tested. Digital trust is crucial for public confidence and economic growth in the digital era.

Legislative Challenges &amp; End-User Risks

Technology outpaces legislation, leaving gaps in cybersecurity laws.

The end-user is the weakest link due to lack of structured education and awareness.

Example: SIM card registration flaws allow individuals to register 1,000 SIMs, enabling fraud.

Emerging AI-Driven Cyber Threats (2025 and Beyond)

AI-powered attacks: Phishing, social engineering, and deepfake scams. Polymorphic malware: Mutates to bypass security defenses.

Weaponized AI: Large-scale cyberattacks targeting governments, banking, and healthcare sectors.

The call for sectors to be cyber secure and cyber resilient is pressing, and urgent. It takes proactive and collaborative approach, combined with strong legislation to be cyber resilient. Vigilance on and agility to merging technology defenses is essential to safeguarding the digital landscape.

This NEW stories, search #TNCnow or read thru 💬 https://thenewchannel.com/highlights/

Check out 🌐 https://www.TheNewChannel.com

#onTNC #TNCNow #CRS #CyberResilience #CyberResillienceSummit #2025CRSPH #Cybersecurity #TheNewChannel

~ The essentials of protected living and doing business in the digital space The 2025 Cyber Resilience Summit: Delivering Competitive Advantage Through Security held March 5-6 at the Crowne Plaza Manila is the first of its kind in the Philippines. The event featured top level experts from the Philippines and the SEA region representing government, finance and technology, banking and healthcare, BPM, advocacies and education, and the Armed Forces.<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/f3c6e1e2-dd0a-4cfc-637c-54d04bd20200/public" alt="Image" />In a nutshell, the Cyber Resilience Summit homed in on the real-world dangers of cyber (in)security and threats. Throughout the two-day event, discourse and discussion from its top-notch resource speakers revolved on cyber-attacks and scams, online fraud, fake news, identity phishing.Cited by the World Economic Forum as the #4 security risk globally, the Cyber Resilience Summit asked decision makers to prioritize cyber security at every level of enterprise and industry.More importantly, the event focused on awareness and security, and how information and awareness supplemented massively by tough security measures are requisite and paramount to ensure public safety.Not only in the Philippines, but across regional and global lines, and in the same velocity and speed as technology itself entities manipulate these advancements for criminal acts.The World Economic Forum, among other experts state no absolute-100% security from cyber threats as these grow in intensity and at scale. Cyber resilience is imperative to protect data and maintain privacy, and to equip industries to recover from cyber attacks. At the Summit experts unanimously addressed measures that bring together human factors, organizational processes, and the latest technologies.2025 Cyber Resilience Summit: Delivering Competitive Advantage Through Security featured, among others, the following talking heads expressing global perspectives.Engr Jose Carlos P Reyes, Director of the Cybersecurity Bureau, Department of Information and Communications Technology - Securing the Digital Battlefield: Building a Resilient Digital Ecosystem“Cyber security is not a solitary pursuit. We must foster collaboration across organizations, industries and even nations, like minded nations that is sharing threat intelligence and best practices enables us to stay ahead of attackers and improve our collective defenses. Resilience comes from being proactive. It's about identifying potential risks early, understanding the impact of those risks, and implementing controls to mitigate them before they turn into actual reaches in this rapidly evolving threat landscape, static defense mechanisms are insufficient.”<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/d1ec4013-06b7-4882-e5dc-b24832116000/public" alt="Image" />Ts Mohd Zabri Adil Bin Talib, Head of Responsive Technology &amp; Services, CyberSecurity Malaysia - E-Sovereignty and Cyber Resilience: Safeguarding Nations in the Digital Era“Cyber security is basically an initiative, a layer of parameters to set up to prevent&nbsp; you from being harmed digitally. Cyber resilience is when your cyber security is solid and tested. Cyber resilience brings cyber trust—digital trust. Malaysia is focusing on (driving) the digital trust because when we have trust in the infrastructure, the public will use and participate with the digital economy as a whole country to push the national economy to the next level”<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/c159d904-f77e-4c04-4697-c69291f16200/public" alt="Image" />Mr. Jocel de Guzman, Founder and Co-Lead Convenor, ScamWatchPH and Founder &amp; President, Truth360 Inc - Cyber Resilience Starts Here: Building a Robust Human Firewall“The problem globally is legislation in terms of how to catch up when it comes to the advancement of technology.&nbsp; There are some advancements in the lawmaking, but there’s still a lack. The weakest link in cyber security is the end-user. The Filipino digital user learned the technology on their own. While most top 500 corporations have cyber security infrastructure in place to protect their assets, The end-user is often neglected (in lawmaking discussions). Government agencies work in silos. Existing legislation has flaws, for example, the SIM card registration allows 1 individual the ability to register 1000 sim cards. Quoting Former DICT Secretary Ivan Uy, “Online scam is now bigger than illegal drug trade globally.”<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/2f97e219-61a6-4d5a-6f85-621999f05400/public" alt="Image" />Onil Jaia G. Leyda, Technical Solutions Consultant, ManageEngine - Future-Proofing Cybersecurity: Harnessing Emerging Tech for Resilience in 2025 and Beyond“(Among many) AI attacks we should watch out in 2025 include advanced AI powered attacks, these are the AI generated phishing, social engineering and Deep Fake scams that target CEO and focus camps. Next, polymorphic and autonomous cyber attacks that mutate their code for the malware not to detect them and adapts to the security defenses of the users. Then we also have the weaponized AI for cyber, that do large scale attacks on government, banking, finance and patient.”<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/6fb45ceb-07c5-4b5a-6b5d-efd841ddd500/public" alt="Image" />The 2025 Cyber Resilience Summit: Delivering Competitive Advantage Through Security key takeaways are:Collaboration is Key Cybersecurity is a shared responsibility across organizations, industries, and nations. Threat intelligence sharing and best practices enhance collective defenses.Cyber Resilience &amp; Digital TrustCybersecurity acts as a protective layer, while cyber resilience ensures security systems are solid and tested. Digital trust is crucial for public confidence and economic growth in the digital era.Legislative Challenges &amp; End-User RisksTechnology outpaces legislation, leaving gaps in cybersecurity laws.The end-user is the weakest link due to lack of structured education and awareness.Example: SIM card registration flaws allow individuals to register 1,000 SIMs, enabling fraud.Emerging AI-Driven Cyber Threats (2025 and Beyond)AI-powered attacks: Phishing, social engineering, and deepfake scams. Polymorphic malware: Mutates to bypass security defenses.Weaponized AI: Large-scale cyberattacks targeting governments, banking, and healthcare sectors.<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/ab5b1c11-4c0f-49cf-de5c-4cede523b900/public" alt="Image" />The call for sectors to be cyber secure and cyber resilient is pressing, and urgent. It takes proactive and collaborative approach, combined with strong legislation to be cyber resilient. Vigilance on and agility to merging technology defenses is essential to safeguarding the digital landscape.This NEW stories, search #TNCnow or read thru 💬 https://thenewchannel.com/highlights/Check out 🌐 https://www.TheNewChannel.com#onTNC #TNCNow #CRS #CyberResilience #CyberResillienceSummit #2025CRSPH #Cybersecurity #TheNewChannel

Internet service

~ The essentials of protected living and doing business in the digital space

 Cyber security and resilience key factors to user online protection, economic growth 

IUX, a leading trading platform, has been honored with three prestigious awards at the Global Business Review Magazine Awards 2025. Recognized for its cutting-edge technology, exceptional customer service, and transparent, user-centric solutions, IUX has solidified its position as a premier broker in the trading industry. The awards include:

Lowest Trading Costs Broker – Asia 2025

Best User-Friendly Trading Technology – Asia 2025

These accolades highlight IUX's ongoing commitment to delivering a seamless trading experience, combining low costs, fast execution, and an intuitive platform that meets the diverse needs of its global clientele.

The Global Business Review Magazine Awards is a globally recognized platform designed to honor excellence across various sectors, including Banking, Finance, Insurance, Real Estate, Leadership, and Technology. These awards celebrate exceptional performances from businesses that demonstrate innovation, leadership, and a commitment to quality service delivery. By recognizing and rewarding outstanding achievements, the awards provide global recognition to companies that strive for excellence and continuously raise industry standards.

Lowest Trading Costs Broker – Asia 2025: This award highlights IUX's commitment to providing its clients with some of the competitive and transparent pricing in the industry. By minimizing transaction fees and offering cost-effective trading solutions, IUX enables traders to maximize their profitability.

Fastest Trade Execution – Asia 2025: Recognizing IUX’s advanced technological infrastructure, this award underscores the company’s ability to execute trades with minimal latency, allowing traders to act swiftly in dynamic markets and capitalize on real-time opportunities.

Best User-Friendly Trading Technology – Asia 2025: This honor reflects IUX’s intuitive, accessible, and customizable trading platform. Designed for traders of all skill levels, IUX’s platform provides a seamless experience, with easy navigation, advanced tools, and educational resources to support users at every stage of their trading journey.

“We are deeply honored to receive these prestigious awards,” said the representative board. “These accolades affirm our commitment to delivering an exceptional trading experience for our clients. We are proud to continue our journey of innovation and excellence, ensuring that IUX remains at the forefront of the trading industry.”

For more information about IUX, please visit <a href="https://www.iux.com/en?utm_source=Google&amp;utm_medium=CPC&amp;utm_campaign=GBRM+Award2025+Eng&amp;utm_id=GBRM+Award2025+Eng">IUX.com</a>

IUX, a leading trading platform, has been honored with three prestigious awards at the Global Business Review Magazine Awards 2025. Recognized for its cutting-edge technology, exceptional customer service, and transparent, user-centric solutions, IUX has solidified its position as a premier broker in the trading industry. The awards include:Lowest Trading Costs Broker – Asia 2025Fastest Trade Execution – Asia 2025Best User-Friendly Trading Technology – Asia 2025These accolades highlight IUX's ongoing commitment to delivering a seamless trading experience, combining low costs, fast execution, and an intuitive platform that meets the diverse needs of its global clientele.The Global Business Review Magazine Awards is a globally recognized platform designed to honor excellence across various sectors, including Banking, Finance, Insurance, Real Estate, Leadership, and Technology. These awards celebrate exceptional performances from businesses that demonstrate innovation, leadership, and a commitment to quality service delivery. By recognizing and rewarding outstanding achievements, the awards provide global recognition to companies that strive for excellence and continuously raise industry standards.Lowest Trading Costs Broker – Asia 2025: This award highlights IUX's commitment to providing its clients with some of the competitive and transparent pricing in the industry. By minimizing transaction fees and offering cost-effective trading solutions, IUX enables traders to maximize their profitability.Fastest Trade Execution – Asia 2025: Recognizing IUX’s advanced technological infrastructure, this award underscores the company’s ability to execute trades with minimal latency, allowing traders to act swiftly in dynamic markets and capitalize on real-time opportunities.Best User-Friendly Trading Technology – Asia 2025: This honor reflects IUX’s intuitive, accessible, and customizable trading platform. Designed for traders of all skill levels, IUX’s platform provides a seamless experience, with easy navigation, advanced tools, and educational resources to support users at every stage of their trading journey.“We are deeply honored to receive these prestigious awards,” said the representative board. “These accolades affirm our commitment to delivering an exceptional trading experience for our clients. We are proud to continue our journey of innovation and excellence, ensuring that IUX remains at the forefront of the trading industry.”For more information about IUX, please visit <a href="https://www.iux.com/en?utm_source=Google&amp;utm_medium=CPC&amp;utm_campaign=GBRM+Award2025+Eng&amp;utm_id=GBRM+Award2025+Eng">IUX.com</a>

Magazines / Books / Publications

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Application

Financial results announcement

IUX Wins Triple Prestigious Awards at the Global Business Review Magazine Awards 2025 

The transaction involves the sale of 100% shares in PH1 Holding FZ-LLC, the UAE-based parent company of Communication and Renewable Energy Infrastructure CREI Phils Inc., adding over 400 telecom towers with a colocation ratio of 1.25x to Frontier’s network of nearly 5,000 towers. This strategic divestment represents a significant milestone in CREI’s broader vision to drive sustainable energy and connectivity solutions across Asia and Africa. 

This transaction highlights <a href="https://www.index-partners.com/">Index Partners</a>’ capabilities in advising complex, high-value deals within the digital infrastructure sector in Southeast Asia, and its commitment in advancing connectivity and empowering businesses to scale through strategic, innovative transactions in the digital space.

<a href="https://www.index-partners.com/">Index Partners</a>, together with Global Gate Capital, are the exclusive financial advisors to CREI on the transaction. Legal counsel for CREI was provided by Jones Day, King &amp; Spalding, and MVGS.

<a href="https://www.linkedin.com/company/communication-andrenewable-energy-infrastructure-crei/posts/?feedView=all">CREI</a> is part of “Two Thirty Three Holdings SA” Group, a global telecom and energy services group. CREI is a UAE established asset management company holding through its subsidiaries a portfolio of telecom towers and renewable power assets across Africa and Asia. Its main activities entail providing sustainable energy and connectivity to Mobile Network Operators (MNOs) and rural communities across developing countries. CREI capitalizes on the expertise and synergies created throughout its group of affiliated companies to provide a full service to Operators and deliver efficient solutions that are integrated along the value chain. Through managing a portfolio of Telecom ESCO, TowerCo, and Network as a Service (NaaS) projects, CREI delivers agile solutions to all its stakeholders including the MNOs, addressing specific social and environmental needs to achieve lasting positive impact, decreasing the carbon footprint while improving the operator’s network performance and reach

<a href="https://www.frontiertowersphilippines.com/">Frontier</a> is a subsidiary of Pinnacle. Pinnacle invests in, builds and operates telecommunications infrastructure with a focus on towers and related assets. Pinnacle is an Asia-focused digital infrastructure platform with a strong focus on the rapidly growing Philippines market. Frontier’s leadership team includes founders of a number of highly successful tower companies and former C-level executives from some of the world’s leading wireless operators. Pinnacle is backed by leading global investment firm <a href="https://www.kkr.com/">KKR</a>.

Index Partners is pleased to announce its role as financial advisor to CREI Management Services FZE ("CREI") in the successful agreement to sell its Philippine tower portfolio to Frontier Tower Associates Philippines Inc. (“Frontier”), a Towerco operator backed by KKR. The transaction involves the sale of 100% shares in PH1 Holding FZ-LLC, the UAE-based parent company of Communication and Renewable Energy Infrastructure CREI Phils Inc., adding over 400 telecom towers with a colocation ratio of 1.25x to Frontier’s network of nearly 5,000 towers. This strategic divestment represents a significant milestone in CREI’s broader vision to drive sustainable energy and connectivity solutions across Asia and Africa. This transaction highlights <a href="https://www.index-partners.com/">Index Partners</a>’ capabilities in advising complex, high-value deals within the digital infrastructure sector in Southeast Asia, and its commitment in advancing connectivity and empowering businesses to scale through strategic, innovative transactions in the digital space.<a href="https://www.index-partners.com/">Index Partners</a>, together with Global Gate Capital, are the exclusive financial advisors to CREI on the transaction. Legal counsel for CREI was provided by Jones Day, King &amp; Spalding, and MVGS.<h3>About CREI</h3><a href="https://www.linkedin.com/company/communication-andrenewable-energy-infrastructure-crei/posts/?feedView=all">CREI</a> is part of “Two Thirty Three Holdings SA” Group, a global telecom and energy services group. CREI is a UAE established asset management company holding through its subsidiaries a portfolio of telecom towers and renewable power assets across Africa and Asia. Its main activities entail providing sustainable energy and connectivity to Mobile Network Operators (MNOs) and rural communities across developing countries. CREI capitalizes on the expertise and synergies created throughout its group of affiliated companies to provide a full service to Operators and deliver efficient solutions that are integrated along the value chain. Through managing a portfolio of Telecom ESCO, TowerCo, and Network as a Service (NaaS) projects, CREI delivers agile solutions to all its stakeholders including the MNOs, addressing specific social and environmental needs to achieve lasting positive impact, decreasing the carbon footprint while improving the operator’s network performance and reach <h3>About Frontier</h3><a href="https://www.frontiertowersphilippines.com/">Frontier</a> is a subsidiary of Pinnacle. Pinnacle invests in, builds and operates telecommunications infrastructure with a focus on towers and related assets. Pinnacle is an Asia-focused digital infrastructure platform with a strong focus on the rapidly growing Philippines market. Frontier’s leadership team includes founders of a number of highly successful tower companies and former C-level executives from some of the world’s leading wireless operators. Pinnacle is backed by leading global investment firm <a href="https://www.kkr.com/">KKR</a>.

Telecommunications / VoIP

Local companies

SMEs

Index Partners is pleased to announce its role as financial advisor to CREI Management Services FZE ("CREI") in the successful agreement to sell its Philippine tower portfolio to Frontier Tower Associates Philippines Inc. (“Frontier”), a Towerco operator backed by KKR.

Index Partners Advises CREI on the Sale of Its TowerCo Portfolio to Frontier Tower Associates Philippines

Digital lending has been the most active Southeast Asian fintech subsector in 2023, seeing growth in 2024 and projected to grow another 33% in 2025 <a href="https://www.researchinindonesia.com/insight/digital-lending-in-sea-overview">[1]</a>.XenCapital has demonstrated its merchants in the lending space, having disbursed over USD$700 million in loans to businesses across Southeast Asia since its inception in 2021. Its success underscores its robust risk management strategies and deep understanding of the merchants’ needs in the region.

"We have arrived at a significant milestone for our business," said David Z Wang, Co-founder of Helicap. "Our partnership with XenCapital aligns with Helicap's mission to ease access to capital to underbanked businesses in Southeast Asia, and we are honoured to work together to achieve this long-term vision. Helicap remains committed to driving financial inclusion in the region, and we are impressed by Xendit's extensive payment ecosystem it has built in the region and its lending know-how."

"We're excited to partner with Helicap to further drive financial inclusion across Southeast Asia.

This collaboration enables us to expand our reach and provide much-needed capital to our merchants in the Philippines and beyond," said Moses Lo, Co-founder and CEO of Xendit.

Helicap as a group together with its regulated subsidiaries, have facilitated over USD$370 million in transactions since 2018. Leveraging advanced credit analytics to evaluate millions of loan data points, Helicap ensures informed and responsible decision making.

This collaboration between Helicap and XenCapital represents a synergistic alliance dedicated to empowering businesses and driving economic growth in Southeast Asia.

1<a href="http://www.researchinindonesia.com/insight/digital-lending-in-sea-overview">https://www.researchinindonesia.com/insight/digital-lending-in-sea-overview</a>

Helicap, a leading fintech platform provider specialising in emerging markets, is proud to announce the successful facilitation of a credit facility with XenCapital, the lending arm of Xendit, a fintech unicorn with operations across Southeast Asia and which has raised US$515million in venture capital funding.
 Digital lending has been the most active Southeast Asian fintech subsector in 2023, seeing growth in 2024 and projected to grow another 33% in 2025 <a href="https://www.researchinindonesia.com/insight/digital-lending-in-sea-overview">[1]</a>.XenCapital has demonstrated its merchants in the lending space, having disbursed over USD$700 million in loans to businesses across Southeast Asia since its inception in 2021. Its success underscores its robust risk management strategies and deep understanding of the merchants’ needs in the region."We have arrived at a significant milestone for our business," said David Z Wang, Co-founder of Helicap. "Our partnership with XenCapital aligns with Helicap's mission to ease access to capital to underbanked businesses in Southeast Asia, and we are honoured to work together to achieve this long-term vision. Helicap remains committed to driving financial inclusion in the region, and we are impressed by Xendit's extensive payment ecosystem it has built in the region and its lending know-how.""We're excited to partner with Helicap to further drive financial inclusion across Southeast Asia.This collaboration enables us to expand our reach and provide much-needed capital to our merchants in the Philippines and beyond," said Moses Lo, Co-founder and CEO of Xendit.Helicap as a group together with its regulated subsidiaries, have facilitated over USD$370 million in transactions since 2018. Leveraging advanced credit analytics to evaluate millions of loan data points, Helicap ensures informed and responsible decision making.This collaboration between Helicap and XenCapital represents a synergistic alliance dedicated to empowering businesses and driving economic growth in Southeast Asia.1<a href="http://www.researchinindonesia.com/insight/digital-lending-in-sea-overview">https://www.researchinindonesia.com/insight/digital-lending-in-sea-overview</a>

Helicap, a leading fintech platform provider specialising in emerging markets, is proud to announce the successful facilitation of a credit facility with XenCapital, the lending arm of Xendit, a fintech unicorn with operations across Southeast Asia and which has raised US$515million in venture capital funding.


Helicap Closes Largest Credit Facility Yet with Xendit’s XenCapital: USD$50 Million to Empower Southeast Asian Businesses

Singapore – July 25, 2024 – Invesko has announced that it has welcomed more than 12,000 new investors aged 18-29 to its platform since launching in May 2024.

Invesko is on a mission to make investing easy, accessible, and rewarding for a new generation of investors. With Invesko, young people can invest with no account minimums, buy and sell stocks for as little as $1, and get rewarded in cash and stocks as they invest in their future.

With a simple design and intuitive interface, Invesko makes investing familiar and welcoming. Unlike complex platforms, Invesko offers an easy and rewarding onboarding process. Signing up takes less than 5 minutes, with free stock awaiting you when you complete verification. You can buy your first stock with just three taps for as little as $1. This simplicity aims to make Invesko the go-to mobile investing experience.

With 81% of young adults preferring to manage their finances via mobile apps, Invesko is designed as a mobile-first platform to meet this demand. It offers no account minimums and zero commissions during the promotional period, ensuring accessibility. Afterward, Invesko will continue to keep fees low for funding, trading, and subscriptions.

With over two-thirds of young investors feeling overwhelmed by investment information and around half citing insufficient funds as a barrier, starting to invest can be intimidating. Invesko addresses these concerns by offering Rewards, which provide cash bonuses or free stocks as users invest. By recognizing and rewarding their commitment, Invesko helps turn hesitation into action, making early investment more accessible and appealing.

Grow Your Investments with Invesko

Invesko currently offers access to US stocks and ETFs by working with a partner broker-dealer to offer exceptional brokerage features with ultimate flexibility and the security of SIPC insurance — all delivered through the Invesko app that makes building your wealth easy.&nbsp;

The company is also expanding to include local stocks, as part of its strategy to become a comprehensive financial-services provider.

“Our vision is for Invesko to be the most trusted, lowest-cost, and culturally relevant investment app for Gen Z in Southeast Asia—the most tech-savvy and largest user base,” Invesko founder Miko Bantigue says. “Looking ahead, we aim to offer a seamless experience where users can grow and manage all aspects of their wealth in one place. We’re building a platform where they can easily transition between US stocks, local stocks, automated investment products, and a high-yield USD cash account. It will truly be ‘all my investments.’”

The app is available to customers in over 150 countries on the Apple App Store and Google Play at <a href="http://getinvesko.com">getinvesko.com</a>.

Invesko is not a securities broker and does not provide any broker-dealer services. We work with licensed partner broker-dealers to ensure compliance with all applicable regulations. Nothing in this press release should be construed as an offer or solicitation to buy or sell securities or other financial products in any jurisdiction where such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction. Neither Invesko nor its partner broker-dealers hold the necessary licenses or registrations in such jurisdictions. Prospective investors should seek the advice of their own financial and legal advisors before making any investment decision.

Invesko has announced that it has welcomed more than 12,000 new investors aged 18-29 to its platform since launching in May 2024 Singapore – July 25, 2024 – Invesko has announced that it has welcomed more than 12,000 new investors aged 18-29 to its platform since launching in May 2024.Invesko is on a mission to make investing easy, accessible, and rewarding for a new generation of investors. With Invesko, young people can invest with no account minimums, buy and sell stocks for as little as $1, and get rewarded in cash and stocks as they invest in their future.Investing Made EasyWith a simple design and intuitive interface, Invesko makes investing familiar and welcoming. Unlike complex platforms, Invesko offers an easy and rewarding onboarding process. Signing up takes less than 5 minutes, with free stock awaiting you when you complete verification. You can buy your first stock with just three taps for as little as $1. This simplicity aims to make Invesko the go-to mobile investing experience.Investing Made AccessibleWith 81% of young adults preferring to manage their finances via mobile apps, Invesko is designed as a mobile-first platform to meet this demand. It offers no account minimums and zero commissions during the promotional period, ensuring accessibility. Afterward, Invesko will continue to keep fees low for funding, trading, and subscriptions.Investing Made RewardingWith over two-thirds of young investors feeling overwhelmed by investment information and around half citing insufficient funds as a barrier, starting to invest can be intimidating. Invesko addresses these concerns by offering Rewards, which provide cash bonuses or free stocks as users invest. By recognizing and rewarding their commitment, Invesko helps turn hesitation into action, making early investment more accessible and appealing.Grow Your Investments with InveskoInvesko currently offers access to US stocks and ETFs by working with a partner broker-dealer to offer exceptional brokerage features with ultimate flexibility and the security of SIPC insurance — all delivered through the Invesko app that makes building your wealth easy.&nbsp;The company is also expanding to include local stocks, as part of its strategy to become a comprehensive financial-services provider.“Our vision is for Invesko to be the most trusted, lowest-cost, and culturally relevant investment app for Gen Z in Southeast Asia—the most tech-savvy and largest user base,” Invesko founder Miko Bantigue says. “Looking ahead, we aim to offer a seamless experience where users can grow and manage all aspects of their wealth in one place. We’re building a platform where they can easily transition between US stocks, local stocks, automated investment products, and a high-yield USD cash account. It will truly be ‘all my investments.’”The app is available to customers in over 150 countries on the Apple App Store and Google Play at <a href="http://getinvesko.com">getinvesko.com</a>.-Invesko is not a securities broker and does not provide any broker-dealer services. We work with licensed partner broker-dealers to ensure compliance with all applicable regulations. Nothing in this press release should be construed as an offer or solicitation to buy or sell securities or other financial products in any jurisdiction where such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction. Neither Invesko nor its partner broker-dealers hold the necessary licenses or registrations in such jurisdictions. Prospective investors should seek the advice of their own financial and legal advisors before making any investment decision.

Venture Capitals

Startups

Invesko has announced that it has welcomed more than 12,000 new investors aged 18-29 to its platform since launching in May 2024

Filipino-Founded Invesko Attracts 12,000 Gen Z Investors Across Southeast Asia in Just Two Months

Through this new solution, Netbank provides a dedicated bank account for international remittance companies to facilitate inbound transactions from overseas and local disbursements into different bank accounts and wallets.

Netbank has already partnered with TransferGo, a global payment service provider registered in the United Kingdom, for this solution.

TransferGo was able to facilitate inbound transactions in GBP and USD from overseas and was able to disburse PHP into different local bank accounts and wallets via an Application Programming Interface (API) connection.

Augmante Alisauskaite, Senior Relationship Manager of TransferGo said,

“Despite the complexities of navigating regulatory requirements, the Netbank team demonstrated a high level of expertise throughout the process.

Their approach allowed us to build one of the best products in the market. The innovative approach taken by their team has truly set them apart as a partner.”

Alain Abadiano, Head of International Accounts and Payments Solutions of Netbank said,

“With the large presence of Filipino migrant workers all around the globe, and increasing B2B trade flows, there is a huge opportunity for international remittance companies serving the Philippines.

Netbank is here to provide innovative solutions to these companies and ensure that their business transactions here in the Philippines will be seamless and efficient.”

<h1>Netbank Launches Solution to Ease Remittances to the Philippines</h1>Netbank, a Banking as a Service (BaaS) platform, has launched a solution that allows international remittance companies to facilitate cross border payments into the Philippines.Through this new solution, Netbank provides a dedicated bank account for international remittance companies to facilitate inbound transactions from overseas and local disbursements into different bank accounts and wallets.Netbank has already partnered with TransferGo, a global payment service provider registered in the United Kingdom, for this solution.TransferGo was able to facilitate inbound transactions in GBP and USD from overseas and was able to disburse PHP into different local bank accounts and wallets via an Application Programming Interface (API) connection.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/f43625811963c0cde6e86b3cb88cac29f3747766d381aa0bb4636285e0d5acff/Augmante-Alisauskaite-300x300.jpg" alt="Augmante Alisauskaite"/>Augmante Alisauskaite, Senior Relationship Manager of TransferGo said,“Despite the complexities of navigating regulatory requirements, the Netbank team demonstrated a high level of expertise throughout the process.Their approach allowed us to build one of the best products in the market. The innovative approach taken by their team has truly set them apart as a partner.”Alain Abadiano, Head of International Accounts and Payments Solutions of Netbank said,“With the large presence of Filipino migrant workers all around the globe, and increasing B2B trade flows, there is a huge opportunity for international remittance companies serving the Philippines.Netbank is here to provide innovative solutions to these companies and ensure that their business transactions here in the Philippines will be seamless and efficient.”We give fintechs a total toolkit, so they can focus on their clients and their growth. The same tools allow non-bank networks (pawnshops, MFIs, employers, insurers) to offer complete banking services to their clients. We are excited by seeing other organizations succeed.

Our goal is to allow Filipinos to get safe and reliable banking from the channels and institutions they already trust.Netbank.ph
+6328708-7087
support@netbank.ph

System / Website / Application development

Banks / Credit unions

Credit card / Loan

Netbank, a Banking as a Service (BaaS) platform, has launched a solution that allows international remittance companies to facilitate cross border payments into the Philippines.

Netbank Launches Solution to Ease Remittances to the Philippines

The campaign with the aim to educate millions of smartphone and online users against phishing scams had kicked off on 29 May 2023 at Shangri La The Fort in Taguig City.

The industry-led multi stakeholder national consumer cybersecurity campaign is being led by the Fintech Alliance in partnership with the Bangko Sentral ng Pilipinas (BSP), National Bureau of Investigation, Philippine National Police, Anti-Money Laundering Council, Securities and Exchange Commission, Insurance Commission, National Privacy Commission, National Telecommunications Commission, Department of Trade and Industry, telecommunications companies, consumer groups, and media groups.

The campaign was launched in response to the emergence of risks and threats to users’ safety and to ensure the sustained consumer trust on digital payments platforms.

“I am proud to see everyone working hard to make the Nationwide Consumer Cybersecurity Education Campaign an effective and invaluable tool in helping accelerate the Philippines’ Digital Economy.

You can count on BSP to be a staunch supporter of our project. We will continue to work hand in hand with all of our stakeholders and ensure the far-reaching impact of this campaign,”

“With all industry players, government, media and the Filipino consumers working together, we’re ready to unlock the power of cybersecurity with consumer education!

We enjoin all Fintech Alliance member companies to have our campaign in all your social media platforms and use the hashtag #WagMagpalokoMagingScamAlerto,”

said Lito Villanueva, Founding Chairman of the&nbsp;Fintech Alliance.PH&nbsp;and Executive Vice President and Chief Innovation and Inclusion Officer at RCBC.

FinTech Alliance.PH also kicked off the first cohort of the Cambridge Fintech Regulatory and Innovations (FTRI) Programme.

It is by the Judge Business School of the University of Cambridge in Southeast Asia in partnership with the Mapua University in the Philippines.

The programme targets the development and training of regulators, legislators, policy makers, and practitioners and professionals in banking, fintech and digital industries.

<h1>Fintech Alliance.PH Kicks off National Cybersecurity Education Campaign</h1>Fintech Alliance.PH, the country’s largest association of fintech and digital players, had launched a multistakeholder national cybersecurity awareness and education campaign.The campaign with the aim to educate millions of smartphone and online users against phishing scams had kicked off on 29 May 2023 at Shangri La The Fort in Taguig City.The industry-led multi stakeholder national consumer cybersecurity campaign is being led by the Fintech Alliance in partnership with the Bangko Sentral ng Pilipinas (BSP), National Bureau of Investigation, Philippine National Police, Anti-Money Laundering Council, Securities and Exchange Commission, Insurance Commission, National Privacy Commission, National Telecommunications Commission, Department of Trade and Industry, telecommunications companies, consumer groups, and media groups.The campaign was launched in response to the emergence of risks and threats to users’ safety and to ensure the sustained consumer trust on digital payments platforms.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/78435b15baeecf077630dd8efc68f7a678e1c920954f68a2333b941e7c399779/Felipe-M.-Medalla-150x150.png" alt="Felipe M. Medalla"/>“I am proud to see everyone working hard to make the Nationwide Consumer Cybersecurity Education Campaign an effective and invaluable tool in helping accelerate the Philippines’ Digital Economy.You can count on BSP to be a staunch supporter of our project. We will continue to work hand in hand with all of our stakeholders and ensure the far-reaching impact of this campaign,”said BSP Governor Felipe Medalla.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/dac35ecb3f2bdee1e3521ab3d306af25ef6fcb5dcf0eee0fa0fb134d7225a00b/Lito-Villanueva_RCBC-2020-150x150.jpeg" alt="Lito Villanueva"/>“With all industry players, government, media and the Filipino consumers working together, we’re ready to unlock the power of cybersecurity with consumer education!We enjoin all Fintech Alliance member companies to have our campaign in all your social media platforms and use the hashtag #WagMagpalokoMagingScamAlerto,”said Lito Villanueva, Founding Chairman of the&nbsp;Fintech Alliance.PH&nbsp;and Executive Vice President and Chief Innovation and Inclusion Officer at RCBC.FinTech Alliance.PH also kicked off the first cohort of the Cambridge Fintech Regulatory and Innovations (FTRI) Programme.It is by the Judge Business School of the University of Cambridge in Southeast Asia in partnership with the Mapua University in the Philippines.The programme targets the development and training of regulators, legislators, policy makers, and practitioners and professionals in banking, fintech and digital industries.FinTech Alliance.ph is the Philippines’ leading and largest digital trade organization comprised of startups and unicorns collectively generating over 90% of digital-initiated transactions volume in the country today.
In organizing ourselves, we are nurturing our collective strengths and realizing its great potential in contributing to the country’s economic and social development.
Together, we believe in the enormous opportunity through continuous engagement in building and expanding a sustainable digital finance ecosystem. Ultimately, it must redound to the benefit of every Filipino, especially those in the bottom of the pyramid.
With initiatives encompassing other key sectors such as agriculture, transportation, water, health, education, and renewable energy, among others.secretariat@fintechalliance.ph

Coaching / Mentoring / Consultation

Security

Cryptocurrency

Fintech Alliance.PH, the country’s largest association of fintech and digital players, had launched a multistakeholder national cybersecurity awareness and education campaign.

Fintech Alliance.PH Kicks off National Cybersecurity Education Campaign

Mr. Malolos made this pronouncement as he participated in a panel discussion with his co-experts in the field of fintech to impart ways to create a more inclusive financial system through technology at the first AI Summit in the country hosted by the Aboitiz Data Innovation (ADI).

“In order to achieve financial inclusion, you need to have financial common sense first, which means understanding the behavior of your target market whether it be compatibility to the device they will be using and how it will be used. People are not fully aware of how technology impacts their lives. And for us in the fintech industry, we need to see technology as a tool to deliver that promise of innovation,” he said, emphasizing the key challenge to financial inclusion in the country is the efficient adoption of the target consumers to fintech services developed such as digital banking.

Mr. Malolos emphasized that fintech companies should also take into consideration the importance of keeping digital financial services simple, easy to use, and accessible to both merchants and their customers—a feature PayMongo upholds in its platform. He also added that with the emergence of AI, hopefully profiling and capturing these target markets will be easier and more accurate.[2]

He expounds that it is only when these target consumers understand how to utilize these financial services, can they truly see its benefits to their daily lives.

“In PayMongo, we make sure that as we get into micro merchants, we are able to give them the benefit of setting up and succeeding in their business. It is when they succeed and generate income that they can appreciate the other players in the fintech ecosystem.”

Financial inclusion is defined as the availability and equality of opportunities to access financial services such as banking, loan, equity, and insurance products.&nbsp; Adoption in terms of technology, on the other hand, refers to the process of accepting, integrating, and using new technology in society.

Per data from a Department of Science and Technology study in 2022, awareness on technological advancements doesn’t directly translate to technology adoption. Various factors such as knowledge, financial constraints, owner and employees’ lack of awareness on the importance of the technology, weak technology base, and poor infrastructure significantly hinder businesses from adopting new technologies.

As CEO of the leading payment gateway in the country, Mr. Malolos discussed the efforts made by PayMongo in uplifting the livelihood of MSMEs. He stressed how PayMongo capacitates these business owners to help them appreciate the developments in digital finance.

“Our objective in PayMongo is to simplify things for businesses. That when you get into our system, it’s so easy, so simple, and you will realize that utilizing these digital financial systems is actually not as complicated as it seems,” he expressed. Just last month, PayMongo signed an agreement with Unionbank, expanding both companies’ financial network further, and providing a more accessible and simplified payment processing for businesses of all sizes.

<h1>PayMongo Chief calls for simpler, more convenient digital financial services in accelerating financial inclusion</h1>PayMongo Chief Executive Officer Jojo Malolos stressed the importance of knowing your consumers well and identifying the specific needs and circumstances of consumers to achieve financial inclusion, especially here in the Philippines.Mr. Malolos made this pronouncement as he participated in a panel discussion with his co-experts in the field of fintech to impart ways to create a more inclusive financial system through technology at the first AI Summit in the country hosted by the Aboitiz Data Innovation (ADI).“In order to achieve financial inclusion, you need to have financial common sense first, which means understanding the behavior of your target market whether it be compatibility to the device they will be using and how it will be used. People are not fully aware of how technology impacts their lives. And for us in the fintech industry, we need to see technology as a tool to deliver that promise of innovation,” he said, emphasizing the key challenge to financial inclusion in the country is the efficient adoption of the target consumers to fintech services developed such as digital banking.Mr. Malolos emphasized that fintech companies should also take into consideration the importance of keeping digital financial services simple, easy to use, and accessible to both merchants and their customers—a feature PayMongo upholds in its platform. He also added that with the emergence of AI, hopefully profiling and capturing these target markets will be easier and more accurate.[2]He expounds that it is only when these target consumers understand how to utilize these financial services, can they truly see its benefits to their daily lives.“In PayMongo, we make sure that as we get into micro merchants, we are able to give them the benefit of setting up and succeeding in their business. It is when they succeed and generate income that they can appreciate the other players in the fintech ecosystem.”Financial inclusion is defined as the availability and equality of opportunities to access financial services such as banking, loan, equity, and insurance products.&nbsp; Adoption in terms of technology, on the other hand, refers to the process of accepting, integrating, and using new technology in society.Per data from a Department of Science and Technology study in 2022, awareness on technological advancements doesn’t directly translate to technology adoption. Various factors such as knowledge, financial constraints, owner and employees’ lack of awareness on the importance of the technology, weak technology base, and poor infrastructure significantly hinder businesses from adopting new technologies.As CEO of the leading payment gateway in the country, Mr. Malolos discussed the efforts made by PayMongo in uplifting the livelihood of MSMEs. He stressed how PayMongo capacitates these business owners to help them appreciate the developments in digital finance.“Our objective in PayMongo is to simplify things for businesses. That when you get into our system, it’s so easy, so simple, and you will realize that utilizing these digital financial systems is actually not as complicated as it seems,” he expressed. Just last month, PayMongo signed an agreement with Unionbank, expanding both companies’ financial network further, and providing a more accessible and simplified payment processing for businesses of all sizes.support@paymongo.com

PayMongo Chief Executive Officer Jojo Malolos stressed the importance of knowing your consumers well and identifying the specific needs and circumstances of consumers to achieve financial inclusion, especially here in the Philippines.