DECEMBERASIA BUSINESS OUTLOOK8NEWSROOMHigala, a Philippines-based banking infra-structure provider, has secured US$4 million in seed funding to expand digital banking services for rural banks and microfinance institutions (MFIs).Investors in the round include Talino Venture Studios, Chemonics International, Kadan Capital, Tenco Capital, and 1982 Ventures.Originally targeted at US$2.8 million, the round was expanded to US$4 million due to strong investor interest in Higala's digital solutions for underserved communities. The funding will support the growth of Higala's SynerFi platform, which enables smaller financial institutions to access the InstaPay payment network. Participating banks include Rural Bank of San Antonio, Rural Bank of Lipa City, Progressive Rural Bank, Banco Abucay.Additionally, Rural Bank of Hermosa, Money Mall Rural Bank, First Philippine Partners Bank, and Lagawe Highlands Rural Bank are also involved.Regulatory changes are also shaping adoption. Under Bangko Sentral ng Pilipinas (BSP) Circular No. 1140, banks must implement automated, real-time fraud monitoring integrated with Anti-Money Laundering (AML) systems posing challenges for rural banks entering instant payments.Fraud and AML specialists now see opportunities to tailor compliance tools for rural banks and MFIs joining InstaPay, especially as 24/7 transfers raise cybercrime risks. InstaPay operates round-the-clock with a PHP 50,000 per-transaction limit, yet many smaller banks lack the fraud prevention infrastructure of larger institutions.This creates a near-term market for specialized compliance technology to support secure digital financial inclusion. JTC Corporation (JTC) and National University of Singapore (NUS) have signed a memorandum of understanding to study the establishment of the Sustainable Tropical Data Centre Testbed 2.0.The announcement was made by Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, during the 25th anniversary dinner of Jurong Island. The new testbed builds on earlier developments and focuses on developing energy-efficient data-centre technologies tailored for tropical climates.It will examine sustainable cooling systems and advanced energy-management practices with the aim of drastically reducing carbon emissions from data-centre operations.Jurong Island was specifically highlighted as a site for advancing low-carbon infrastructure. In his remarks, Gan emphasised the critical role that public-private partnerships and collaborations between government agencies and research institutions play in supporting industrial development and sustainability initiatives.This announcement aligns with Singapore's long-term industrial planning positioning Jurong Island as a hub for energy, chemicals, and new technologies. The facility is part of a broader push to transform the island into a "living testbed" for sustainable industrial innovation. HIGALA RAISES $4M TO BOOST RURAL DIGITAL BANKINGJTC & NUS LAUNCH SUSTAINABLE TROPICAL DATA CENTRE TEST BED 2.0· JTC and NUS partner to develop Testbed 2.0 focused on tropical-climate data-centre efficiency.· The initiative aims to reduce carbon emissions via sustainable cooling and smart energy management.· Jurong Island is being positioned as Singapore's key hub for low-carbon industrial innovation.· Higala secures US$4M to expand digital banking for rural banks and MFIs· SynerFi platform enables smaller banks to join the InstaPay network· BSP's fraud monitoring rules create new demand for compliance tech
< Page 7 | Page 9 >