Over PHP 155 billion of loans disbursed to 5.4 million Filipinos through GCash’s lending arm Fuse

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In the Philippines' pursuit of financial inclusion, access to fair lending is an essential pillar that empowers individuals and businesses alike. The country's leading finance super app and largest cashless ecosystem GCash, through its lending arm Fuse, is driving economic empowerment by putting accessible and affordable credit in the hands of millions of Filipinos.

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Fuse Lending opens doors to digital lending for unbanked communities, MSMEs

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It was in 2016 when GCash's parent company Mynt launched Fuse Lending to better serve underbanked Filipinos. Six years later in 2022, Fuse launched GLoan, a pioneering lending product that provides them with their first access to credit, without the need for credit history or collateral.

Fuse has expanded to include services beyond GLoan, such as GCredit (revolving credit line), GGives (installment loan for partner merchants), GLoan Sakto (nano-loans), and Borrow Load. With loans as low as Php100, GCash has disbursed more than PHP 155 billion worth of loans to over 5.4 million Filipinos, including those in the grassroots sector, namely, sari-sari store owners, public market vendors, and farmers.

Meanwhile, 68% of GLoan borrowers are women, while one out of three are micro, small, and medium enterprises (MSMEs).

GCash opened the door to digital lending for many Filipinos who borrow money from informal sources – 86% of GLoan users are first-time formal borrowers.

“We saw GLoan as a lifeline for millions of Filipinos to get by in the aftermath of the pandemic, where there was the increased need for easier access to credit," said Fuse Lending president and CEO Tony Isidro. "We pulled many individuals and businesses from the dark, and fast forward to today, the enterprises we've helped are thriving, while the individuals have been able to bounce back. That is the transformative power of digital finance—to harness technology for good.”

Supporting the national strategy for financial inclusion

The progress that GCash and Fuse have enabled aligns with the Bangko Sentral ng Pilipinas' National Strategy for Financial Inclusion 2022-2028. The BSP is targeting a 10% percentage share of MSME and agricultural loans by 2028. Data from the Philippine Guarantee Corporation in 2021 shows that the percentage share for the two sectors, which drive the country's economic growth, are at 1% separately. GLoan’s entry also came at a time when the total percentage of their total loan portfolios had been declining.

The BSP cited data that shows some reasons that hinder Filipinos from accessing credit, including lack of money to open bank accounts (45%), documentary requirements (26%), and proximity to financial institutions (8%), while others (31%) also report being intimidated by traditional bank processes.

Despite their successes, GCash and Fuse are constantly innovating on ways to reach more Filipinos who remain in the “credit vacuum,” in view of the goal of Finance For All.

Reaching more Filipinos through Fuse's business partnerships

GCash and Fuse have expanded their lending services through recent business partnerships with various organizations such as Lazada (seller loans), and Mayani and Farm Konekt (farmer loans).

Through its partnership with Lazada, GCash is supporting online sellers, providing them with digital loans that accelerate their business growth. Fuse has integrated its seller loan product within the Lazada Philippines Seller Center app, giving the lending company access to MSMEs beyond the GCash platform.

Meanwhile, the partnership with Mayani and Farm Konekt provides farmers and fisherfolk not just with non-collateral loans and access to other GCash services, but also sessions on financial literacy and digital finance. This is in line with GCash's vision of financial inclusion, empowering the agricultural sector through technology and access to credit that helps them withstand challenges such as calamities and weather disturbances.

Innovating to address various needs

GCash is also rolling out Borrow Load and Borrow on the Spot, which will be useful for prepaid subscribers who might need access to load or data during emergencies while on a budget.

“GCash and Fuse have always built their relationship with their customers around trust," Isidro said. "That also means being able to tell Filipinos that we trust them with these loans, which they might need for varying circumstances. It has been our vision since Day One, and we're glad that our users have also placed their trust in us.”

Ballet Manila’s Giselle to feature global superstars Renata Shakirova and Alexei Timofeyev

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World-renowned ballet superstars from the prestigious Mariinsky Ballet, Renata Shakirova and Alexei Timofeyev, will be coming to Manila for a rare Philippine performance in the restaging of Ballet Manila’s Giselle set to happen at the Aliw Theater on August 31, 2024 at 8pm and September 1, 2024 at 5 pm.

This much-awaited collaboration with the Russian superstars of ballet once again highlights Ballet Manila’s artistry and keen eye for excellence in every production, by working with world-class performers – this time for Giselle. This very special collaboration was made possible by Lisa Macuja Elizalde, Ballet Manila’s artistic director and chief executive officer, and her close ties with the Mariinsky Ballet (formerly Kirov Ballet) where she also trained and became the first foreign soloist in the mid-80s. She shared, “The fact that we are collaborating with guest artists and star performers Renata Shakirova and Alexsei Timofeyev will always bring out the best in the company.”

With their star power, Macuja Elizalde couldn’t be more excited for their rendition of the well-loved Giselle. “I think that Renata’s true romantic style of dancing and the fact that she is dancing with her real-life prince Alexei is going to transform Ballet Manila’s Giselle to a Giselle of another level,” she adds. The world-renowned Russian dancers, incidentally, are married to each other in real life.

Born in Tashkent, Uzbekistan, Renata joined Mariinsky Ballet, one of the leading dance companies in the world, upon her graduation in 2015 and was immediately given her first principal role as Kitri in Don Quixote. That same year, she was listed among the 25 to Watch by Dance Magazine. And in 2016, she competed in the Bolshoi Ballet Competition, where she won first prize.

Meanwhile, Leningrad-born Alexei joined Mariinsky Ballet in 2004 and is currently the soloist of the dance company. As a soloist, he managed to secure various awards under his belt, including prize-winner at the VII International Ballet Competition in Seoul in 2010; diploma-recipient at the XVI International Rudolf Nureyev Ballet Festival in 2010 where he was cited for his superb levels of professionalism and contribution to the development of ballet in the Republic of Bashkortostan; and diploma-recipient at the XI International Ballet Dancers’ and Choreographers’ Competition in Moscow in 2009.

While it is their first time to perform on the Philippine stage, Renata is looking forward to connecting with the Filipino audience through her performance. “What’s important to be able to connect with the audience, wherever they are, but especially with a Filipino audience, is to highlight the small nuances that are included in the performance, like the turn of the head or the eye-to-eye contact with your partner, so that the emotions in the story can be conveyed and that the audience can enjoy the show.”

Meanwhile, Alexei excitedly looks forward to performing in front of a new audience, as he noted, “We are feeling the good kind of vibes with the Filipino audience, and we want them to live the story of Giselle with us on stage. It’s going to be our first time, and we hope to share that special experience with all of them.”

The third offering of Ballet Manila’s 26th performance season, dubbed Ballet Masterpieces, Giselle is a classic love story of a village girl (Giselle) who falls in love with Albrecht, not knowing he is already engaged. When she finds out, she dies of a broken heart and becomes a wili, joining the souls of girls who are also wronged by their men. Meanwhile, Albrecht visits the grave of Giselle, who protects him from Myrtha, the vengeful queen of the wilis.

Complementing their performances is a dynamic ensemble made up of young and veteran dancers from Ballet Manila, which, according to Macuja Elizalde, is the main change for the restaging of Giselle. “Ballet Manila Corps de Ballet is made up of more young members who have just joined the company post-pandemic - standing side by side with Ballet Manila dancers who are "veterans" and have performed the ballet many times before.”

The two-act ballet will interestingly showcase the talents of real-life couples both on and off stage. Ballet Manila's principal dancers Abigail Oliveiro and Mark Sumaylo will headline the performance on August 31 at 1pm while the world-renowned duo Renata and Alexei will take on the title roles on August 31 at 8pm and September 1 at 5pm.

All performances will be staged at Aliw Theater, Pasay City. For tickets, visit www.ticketworld.com.ph. To know more about Ballet Manila and its shows, visit www.balletmanila.com.ph

Gloc-9 Unveils Heart-Wrenching Tale of Cherished Memories in New Single “Ala”

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The ever-prolific songwriter Gloc-9 has a new song out and it’s called “Ala.” The fresh single is something deeply emotional and it masterfully weaves together themes of love, family, and the fragility of memory.

The title "Ala" is a playful yet effective wordplay of the Filipino word "alaala," meaning memories, which serves as the heart of this storytelling narrative.

In "Ala," Gloc-9 takes listeners on a journey through the life of a man who reflects on the cherished memories of his love story, from meeting his partner, building a family, to growing old together. The song begins with a celebration of life’s milestones, capturing the joy of marriage and the blessing of children. As the years pass, the couple's bond remains strong, even as their children move away, leaving them with only each other.

The narrative takes a heart-wrenching turn as the man begins to experience symptoms of Alzheimer's disease, a condition that slowly erodes his memories. Gloc-9's lyrics vividly depict the fear and confusion that come with the diagnosis, as well as the heartbreak of forgetting the very people and moments that once defined his life. The verses are filled with raw emotion, portraying the man's struggle to hold onto the memories that are slipping away, and the pain of his family as they watch him fade.

The rap song effectively depicts the inevitability of time and the importance of treasuring every moment with loved ones. The track serves as a reminder of the beauty and sorrow that memories hold, making "Ala" a standout piece in Gloc-9's growing discography.

The song is part of the latest New Music Friday Philippines and Bago sa Kalye playlists on Spotify.

Stream “Ala”:

Spotify | Lyric Video | Audio Clip and Hi-res photos

GLOC-9!

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UNIVERSAL RECORDS PH!

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LYRICS

Ala by Gloc-9

Hook:

Puwede ko pa bang balikan

Lahat ng mga ala ala

Nong kapiling ka at wala nang ibang nais makasama

I

Nag kakilala tayo

Sinabi sa sarili na malayo

Man ay palagi kong ilalapit sayo

Ang puso na ikaw lang ang syang tanging minahal

At kinasal nga tayo

Nagsama ng matiwasa’y at lalong

Tumibay ang pag ibig sa isa’t isa

Hiling ko na mabibiyayaan tayo ng anak

Panganay si rujelio tapos ay nasundan criselda pancho lito

Aabot pa ng ilan

Karen at Joselito Susan Leslie at Levan walang di matatandaan

Puwede ko pa bang balikan

Lahat ng mga ala ala

Nong kapiling ka at wala nang ibang nais makasama

Makayakap lang

habang dumadaan

Panahong na aking binabalikan

mga alalala

II

Nung tumanda na tayo

Lahat sila ay nandun sa malayo

Ang meron lamang tayo ay isat isa

Ramdam ko na

Tila may di tama sa daan

Rap

Nahilo ako at tila tutumba

Kita ko sa mata mo ang pag aalala

Agad sinabi mo sakin bukas mag patingin ka na

Malakas naman ako kaya nag tataka

Sinamahan mo ako pagod lang wala to

Tapos ay pinatawag tayo dok sa kwarto

Ano pong resulta di ba delikado

Di pa nya masabi nung una parang barado

alzheimer's ano yun kainan?

May taning na ba ‘ko sabihin mo kung kailan

Di kaya itong gamot baka dapat na palitan

Wala akong bisyo ano ang pwedeng dahilan

Hindi ka pa mamamatay kaso lang ano

Maraming mga bagay ang malilimutan mo

Dahan dahan yan di agad agad ito

Sinasabi ko sayo para mapag handaan mo

Nag patuloy tayo na parang di naganap yun

Ang pigilang mahalin kita hindi sapat yun

Sinulit ang lahat ng dumaang okasyon

Susundo ako sayo teka anong oras yun?

Anong araw ngayon kaarawan ko ba?

Nasaan ako teka sino ka?

Bakit ka naka yakap sakin umiiyak ka pa

Bitawan mo ako kilala ba kita?

Tay ako po si rojelio

Panganay nyong anak

Criselda pacho lito

Na iyak lang ng iyak

Karen at joselito Susan Leslie Levan

Sanay iyong matandaan..

Puwede ko pa bang balikan

Lahat ng mga ala ala

Nong kapiling ka at wala nang ibang nais makasama

Makayakap lang

habang dumadaan

Panahong na aking binabalikan

mga alalala

Palo Alto Networks Rolls Out Secure AI by Design Portfolio

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Availability of industry’s first AI-powered cybersecurity solutions to defend against AI threats, safeguard models, and enable controls and visibility

What: Palo Alto Networks is making available to customers its Secure AI by Design product portfolio, aiming to secure organizations' GenAI usage and development of enterprise AI applications by providing visibility, control, and protection specific to AI, addressing new risks and threats. As businesses increasingly integrate AI, the portfolio enables them to confidently build and use AI-powered apps, while also prioritizing the integrity of AI security frameworks from development to deployment.

Why: The need for securing AI applications has become increasingly important as businesses continue to integrate AI and LLMs into their operations. With employees adopting AI applications at a rapid pace and organizations across various industries gaining a competitive edge through AI-powered applications, the Secure AI by Design portfolio aims to securely enable AI deployments.

While the promises of AI are significant, it's essential to acknowledge the associated risks with equal emphasis in order to realize its full potential. Bad actors are using AI to ramp up the scale of attacks, so it is important that organizations are proactive in their defense.

How: Organizations will be equipped to create a secure AI ecosystem that prioritizes the integrity of AI security frameworks from development to deployment. Businesses can fully harness the potential of AI without compromising security through the following use cases:

Securely enable GenAI applications: With the growing trend of employees using GenAI apps for business purposes, AI Access Security enables organizations to use AI tools with confidence. It gives security teams full visibility, application and data access controls, and continuous data risk monitoring.

Fortify AI supply chain: Businesses must be aware and rectify against possible risks. With Prisma Cloud AI Security Posture Management (AI-SPM), organizations can secure their AI ecosystem by identifying vulnerabilities and misconfigurations in models, applications and resources. It improves compliance and minimizes data exposure, thus improving the integrity of your AI security framework.

Protect enterprise AI applications: It is critical for organizations to see every component of their AI app ecosystem— including AI applications, models, inference and training datasets. AI Runtime Security is designed to help solve this, and protect against evolving zero-day and AI-specific threats, such as data leakage from AI models and applications, and safeguard models from misuse and attacks.

When: To start the roll out, AI Runtime Security is now available on Google Cloud and will be available later in August on Amazon Web Services (AWS) and Microsoft Azure. AI-SPM and AI Access Security are already available.

Additional Information: Learn more about our Secure AI by Design portfolio, read our latest blogs on AI Runtime Security and AI-SPM. Explore Precision AI by Palo Alto Networks, which powers our cybersecurity platforms and solutions.

OPPO Showcases Breakthrough Generative AI at Google I/O Connect China 2024

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Beijing, China — Following the Google Cloud Next '24, global leading smart device brand OPPO made an appearance at the Google I/O Connect China recently. Kai Tang, President of OPPO’s Software Engineering, shared insights on how generative AI technology is driving innovation in the smartphone industry and presented OPPO’s AI phone strategy, showcasing various high-productivity AI features integrated with Google Gemini models.

Expanding the Boundaries of Generative AI Applications through Deep Collaboration with Google

“As a revolutionary technology, generative AI is transforming the mobile industry,” stated Kai Tang. “OPPO is dedicated to making AI phones accessible to everyone. We will keep an open mind and work closely with industry giants like Google to deliver the best AI phone experience for our users.”

As a global leader in artificial intelligence, Google is at the forefront of AI technology development and application across various fields. Leveraging its own AI capabilities alongside Google Gemini model, OPPO has introduced a series of innovative AI features to the global market, transforming smartphones into powerful productivity tools. Key features include:

• AI Recording Summary: Supports multi-speaker recognition, automatically identifying and extracting key information to condense lengthy meetings into concise summaries. This helps users quickly grasp key points, converting manual tasks into AI-driven processes, significantly boosting work efficiency.

• AI Toolbox: Integrates three core features—AI Summary, AI Writer, and AI Speak. These tools aid in efficient reading, effortless content creation, and freeing up users’ hands and eyes. Built into the ColorOS smart sidebar, they are easily accessible for a seamless, efficient experience at any time.

These high-productivity AI features have been implemented in the new ColorOS 14 and are available on the globally launched OPPO Reno12 series. Through strong collaborations with partners like Google, OPPO is actively democratizing AI phones, enabling more people to experience the efficiency and convenience of AI.

Democratizing AI Phones and Continuously Innovating User Experience

With the continuous evolution of the smartphone market, AI technology has become a core engine driving industry innovation. In early 2024, OPPO launched the first AI phone - Find X7 series. In June, OPPO officially announced commitment to making AI phones accessible to all, being the first in industry to bring generative AI to all smartphone product lines. By the end of this year, OPPO aims to equip around 50 million devices with generative AI features, including the returning Find X flagship series to the global market.

OPPO envisions AI phones with four key characteristics: efficient computing, real-world perception, self-learning ability, and creativity. Additionally, the intelligent OS will support multimodal interactions and offer third-party services more flexibly. This will result in a full-stack transformation and ecosystem restructuring of AI phones, continuously enhancing user experiences.

As AI technology advances, OPPO will leverage generative AI to boost productivity and creativity, delivering optimal AI phone experiences. The company will continue to collaborate with top industry partners like Google, combining innovation with collaboration to lead the industry into the new AI phone era.