Connect with us

Hi, what are you looking for?


5 forces shaping the Philippine fintech landscape

The financial services industry today is going through exciting times, thanks to technologies that are making financial products and services accessible to more people.

At the first Finovation 2018 event, J.P. Ellis, Group CEO and Co-Founder of’s parent company, C88 Financial Technologies, said that artificial intelligence, big data, product customization, blockchain, and information security are shaping the Philippine financial technology landscape.

“Artificial intelligence tools, such as chatbots, are the future of financial technology. The more you talk to them, the more sophisticated they become,” said Ellis in his keynote speech. Ellis adds that AI can lower costs and allow providers to offer personalized customer experiences.

“Big data will improve virtually everything, from pricing risk to detecting fraud,” continued Ellis. And with data, financial services providers can create specific products for certain demographics and offer customized interest rates, terms, and conditions.

As for information security, the industry can take advantage of world-class information security and cybersecurity standards by leveraging cloud computing.

“We at eCompareMo are committed to information security and sanctity of customer information so we implement security measures like internal audit, penetration testing, SSL certificates, and so much more,” said Ellis.

Advertisement. Scroll to continue reading.

Meanwhile, blockchain technology can beef up security through public ledgers, reduce remittance fees for OFWs, and reduce time lags for financial transactions, according to Ellis.

“With the expertise and deep understanding of the developments we have today, eCompareMo is in an advantageous position to help financial institutions adapt to these new technologies and maximize their positive impact to their businesses and the financial experience of consumers,” said Ellis.

One-stop shop

A financial supermarket for banking and insurance services, eCompareMo was launched in 2014 with only five employees. “We now have two sites with 200 employees serving credit cards, loans, and insurance needs of Filipinos,” said Stephanie Chung, managing director and co-founder of

The portal serves as a one-stop shop for users applying for a credit card, loan, car insurance, and other financial and insurance products without having to go from one website to another or call insurance providers one by one.

Users can compare interest rates, credit card features and perks, and insurance quotations—and apply on the spot for their product of choice. As a value-added service, delivers the country’s first and only Car Insurance Concierge—a helpdesk for insurance policy issuance and renewal, as well as claims processing assistance across different providers.

Chatbot Alex 

Advertisement. Scroll to continue reading.

In a bid to enhance the financial experience of consumers through groundbreaking technologies, launched during Finovation 2018 the portal’s AI bot dubbed “Alex”.

In a presentation, Ched Limson,’s  Chief Commercial Officer, demonstrated how chatbot Alex can recognize photos of valid IDs and documents and distinguish them from invalid photos.

Chatbot Alex can also alert people of the status of their application and suggest related financial products to customers, according to Limson. Alex is also capable of handling multiple commands, and can provide unsolicited assistance.

“We’re not just looking to disrupt the market. We’re here to augment the human element with technologies like artificial intelligence and chatbots,” said Ellis.


Advertisement. Scroll to continue reading.

Like Us On Facebook

You May Also Like


Under the partnership, Calmar Land gains access to Nook’s partner banks, expanding their banking and loan options for their customers. At the same time,...


The work done by stockbrokers and financial advisors go hand in hand. However, they are pretty different. Here is what each one of them...


At the height of the COVID-19 pandemic last year, the country saw a surge in electronic payment systems usage, says the Bangko Sentral ng...


One of the conclusions of this work is that data constitute the common element on which AI and digital technologies are based. Here, it...


Health measures to curb the effects of the COVID-19 have heavily affected business continuity for many industries, most especially manufacturing companies that rely on...


This move accelerates a key Sophos objective to open its data science breakthroughs and make the use of AI in cybersecurity more transparent, all...


Now the financial sector has to ensure that all loose ends are tied in respect to technology. They can employ the use of voice...

Sticky Post

Upgrade Magazine tackles tech security at the time of COVID-19, and more importantly, what business can/should do to face the “new normal”.