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US-based firm invests $5-M in Talino Venture Studios for fintech solutions

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Job Manahan, ABS-CBN News 

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Talino Venture Studios logo" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/overseas/11/01/20231101-talino.jpg"/><figcaption>Talino Venture Studios logo</figcaption></figure></div><p>MANILA - US-based Chemonics International has invested around $5 million into venture firm Talino Venture Studios, as they aim to bridge the financial inclusion gap in the country and other emerging markets worldwide. </p><p>In a statement, Talino Venture said securing the investment would help form &quot;impact-driven, scalable technology solutions for individuals and communities.&quot; </p><p>&quot;Fueled by Chemonics’ $5 million investment, both organizations are fully committed to helping millions access financial services through inclusive and scalable technology,&quot; it added. </p><p>Talino CEO Winston Damarillo said the partnership with Chemonics aims to boost finance inclusion to 50 million unbanked Filipinos. This will also include &quot;low-income economies,&quot; he said. </p><p>“While Talino’s ventures are built on Filipino innovation, our partnership with Chemonics enables us to go beyond the Filipino diaspora and make a positive impact on the lives of many more people,&quot; said Damarillo. </p><p>Talino is known for building ventures and for its broad knowledge on inclusive financial technology. It has so far collaborated with fintech firms BayaniPay, Asenso, Earnie, and Saphron. </p><p>At the height of the pandemic in 2020, Talino Venture created the government-endorsed contact tracing app <a href="https://news.abs-cbn.com/life/10/30/20/travel-philippines-app-launched-as-tourism-slowly-reopens" target="_blank">SafePass</a>. This was eventually adopted by the government&#x27;s inter-agency task force on COVID-19. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/03/09/21/house-panel-adopts-resolution-calling-for-the-creation-of-unified-contact-tracing-protocol">House panel adopts resolution calling for the creation of unified contact tracing protocol</a></li></ul><p>Washington-based Chemonics International, meanwhile, has expertise in new technology applications such as digital payments in remote and disadvantaged areas worldwide. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/06/02/23/marcos-backs-use-of-paleng-qr-ph-plus">Marcos backs use of &#x27;Paleng-QR Ph Plus&#x27;</a></li></ul><p>It used drone technology to pick up lab samples in Malawi and was also credited for developing a technology-based forest and a biodiversity conservation system in the country, according to Talino Venture. </p><p>In partnering with Talino Venture, Chemonics President and CEO Jamey Butcher said, &quot;innovation happens with smart investments and smart partnerships.&quot;</p><p>&quot;Talino has a proven record of developing high-impact technology and combined with Chemonics’ access to local leaders and deep expertise gained from our work in nearly 100 countries, we can create groundbreaking, scalable solutions with the potential to help millions,” said Butcher. </p><p>To boost financial inclusion, the country is borrowing $300 million (almost P17 billion) from the Asian Development Bank (ADB), the multinational lender said earlier this month. </p><p>ADB said the loan would support reforms to expand financial inclusion in the country by improving the country’s financial infrastructure, including widening the digital financing ecosystem. </p><p>Filipinos have shown increased reliance on cashless payments in 2022 as it has become more convenient and easier to use, according to a Visa report. </p><p>At least 82 percent of consumers have attempted to go cashless in 2022, and the growth is seen across different generational bands, a <a href="https://news.abs-cbn.com/video/business/05/31/23/more-filipinos-now-prefer-e-wallets-over-cards-visa" target="_blank">study</a> conducted by Visa showed. </p><p>The Bangko Sentral ng Pilipinas (BSP) has been pushing for the use of digital or cashless payments. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/10/05/23/ph-borrows-p17-b-from-adb-for-financial-inclusion">PH borrows almost P17 billion from ADB for financial inclusion</a></li></ul><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2635789" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

In a statement, Talino Venture said securing the investment would help form 'impact-driven, scalable technology solutions for individuals and communities.'

US-based firm invests $5-M in Talino Venture Studios for fintech solutions

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US-based firm invests $5-M in Talino Venture Studios for fintech solutions

Job Manahan,

ABS-CBN News

Published November 01, 2023 07:57 PM PHT

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Chemonics International

Talino Venture Studios

Talino Venture Lab

Chemonics

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