PERA HUB takes home Philippines Technology Excellence Awards 2024 for API platform

The platform has already been successfully integrated into the mobile applications of leading financial institutions and has shown a robust growth of 300% in transactions over the past year. 

PERA HUB, one of the leading financial services provider in the Philippines, has announced the remarkable growth of its Digital Remittance Platform (DRP), which is transforming how Filipinos receive remittances. The DRP has consistently shown impressive month-over-month growth, underscoring the platform's robust demand and scalability. 

The DRP is a single Application Programming Interface (API) platform that connects a network of remittance companies with digital wallets and other emerging fintech. Regulated by the Bangko Sentral ng Pilipinas (BSP), the platform seamlessly links financial institutions with renowned remittance providers such as Western Union, Remitly, and Ria Money Transfer. This enables e-wallets and digital communities to participate in the Philippines' remittance inflows, serving as a funding source to promote their ecosystems. 

The growth of the DRP aligns with the accelerating digital shift in the remittance industry, driven by increasing consumer preference for digital transactions. According to the BSP Digital Report, the share of digital payments versus total payment volume reached 56% in 2022. 

Reinforcing its commitment to innovation, PERA HUB aims to establish more remittance services and options and integrate with additional electronic money issuers (EMIs) through the DRP, further solidifying its position as a market leader in the digital remittance space. 

"Meanwhile, we remain proactive and committed to enhancing our network, adding more growth and market leaders in the remittance industry, to maximise value for e-wallet providers and their customers," said Lizelle Blasquino, Head of the Digital Business at PERA HUB. "Our digital platform will enable an efficient alternative for Overseas Filipino Workers (OFWs) and their families to receive remittances." 

"Building on the solid foundation we have established with numerous partners throughout the years and the thousands of locations we have nationwide, PERA HUB is making it easier for other remittance providers and fintechs to be part of the cross-border payment scene by providing them with a cost-efficient and easy-to-integrate solution: the DRP," explained President and CEO Ian Ocampo. 

Despite the growth in digital remittances, Over-the-Counter (OTC) remains the primary channel, accounting for more than half of the total remittance value to the Philippines. This presents a significant opportunity for PERA HUB and its partners to convert these transactions to digital and drive financial inclusion across the country. 

"The shift to digital plays a big part in our decision to provide OFWs and their families with more options to remit conveniently, safely, and efficiently," said Ocampo. "This thrust has also allowed us to prioritise financial inclusion that accommodates the growth in remittances, as well as strengthen our digital network and continue to provide financial services through our counters and digital channels." 

DRP was awarded the Philippines Technology Excellence Award in the API - Financial Services category. 

The Asian Technology Excellence Awards, now in its fourth year, celebrates top technological innovators and solutions that are redefining industries and leading the charge in digital transformation.

The Asian Technology Excellence Awards is presented by Asian Business Review. To view the full list of winners, click here. If you want to join the 2025 awards programme and be acclaimed for your company's outstanding retail initiatives, please contact Jane Patiag at [email protected].