The Securities and Exchange Commission (SEC), Mynt Inc., and Fuse Financing Inc. have signed a memorandum of understanding (MoU) to collaborate on financial literacy, responsible borrowing, and consumer protection initiatives, BusinessWorld reported on Tuesday.
The agreement provides a framework for the three organizations to develop and distribute SEC-approved educational materials, aiming to improve financial literacy among Filipinos and promote responsible borrowing practices. Mynt operates the mobile wallet GCash, while Fuse Financing is a fintech lending platform.
The partnership aligns with the SEC’s mandate to protect investors and enhance financial capability among the public. It also comes amid increasing regulatory focus on consumer protection in the digital lending space, where issues such as harassment and data privacy have been flagged.