SynerFi, an open payments platform that reduces barriers and accelerates the participation of smaller financial institutions in InstaPay, is digitally transforming an initial group of eight rural banks across the Philippines through its suite of innovative digital banking-as-a-service solutions.

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“This marks the beginning of empowering the underserved banking sector by enabling them to offer digital banking services that are otherwise available only to mainstream and traditional banks,” said Winston Damarillo, President and Chief Executive Officer of Higala.

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Among the onboarded rural banks in SynerFi include Rural Bank of San Antonio, Inc., Rural Bank of Lipa City (Batangas), Inc., Progressive Rural Bank, Inc., Banco Abucay, Inc., Rural Bank of Hermosa (Bataan), Inc., Money Mall Rural Bank, Inc., First Philippine Partners, Bank, Inc. (A Rural Bank), and Lagawe Highlands Rural Bank, Inc.

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"Connecting rural banks to Instapay and the wider digital ecosystem is not simply an act of digitalization, but a deeper commitment to accelerate financial inclusion in underserved areas. SynerFi continues to demonstrate its promise to drive financial access beyond urban areas and materialize the government's sustainable agenda," said Lito Villanueva, Executive Vice President and Chief Innovation and Inclusion Officer of Rizal Commercial Banking Corporation (RCBC). 

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"RCBC is excited to welcome more participants with the shared mission to make banking services accessible to all Filipinos into the instant payment ecosystem," Villanueva added.

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RCBC’s newly appointed President and CEO Reginaldo ‘Reggie’ Cariaso expressed his support for the collaboration. “This milestone is proof that true innovation doesn’t just happen in cities. It must reach every province, every barangay, and every hand that holds a phone. Through SynerFi and the pioneering technology of Higala, rural banks now gain world-class digital capabilities without the heavy lift of massive capital or tech teams,” Cariaso said. 

“RCBC is proud to support this movement. We welcome these trailblazing rural banks into the future of finance. This is digital transformation with a heart—driven by purpose, powered by partnerships, and guided by a shared vision for an inclusive, sustainable economy,” Cariaso added.

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Through Higala, the pioneering Inclusive Instant Payment System in the country, banks in the SynerFi network will enjoy features such as white label mobile banking application with digital onboarding, CASA and payments services, and a teller web application.

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“SynerFi seeks to empower rural banks like Rural Bank of San Antonio to access world-class digital banking capabilities. Launching these services with zero capital intensity and without the heavy burden of building dedicated in-house tech and compliance teams is invaluable, enabling us to offer customers top-tier technology and services, truly digitizing our reach.” said Ronaldo Recto, President of the Rural Bank of San Antonio, Inc. 

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Higala extends seed funding round to $4M

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As this developed, Talino Venture Studios, Chemonics International, Kadan Capital, Tenco Capital, and 1982 Ventures announced the extension of Higala’s seed funding round to $4M, amplifying Synerfi’s digital transformation capabilities.

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“Fresh funds from our investors will help accelerate Higala’s capabilities of powering SynerFi and helping more financial institutions grow and expand their services to their customers and become active players in the digital economy,” Damarilio emphasized.

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Chemonics International President and CEO Jamey Butcher commented: “After successfully raising our target seed funding of $2.8M, we’ve expanded our round to $4M due to increased interest in Higala and signaling investor confidence in our product.”

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He added: “Through SynerFi, Rural Bank customers throughout the Philippines will now have access to mobile banking for the first time. This is a huge step towards financial inclusion, which Chemonics has been committed to supporting in the Philippines for almost 40 years. As a company with experience in over 160 countries, we’ve seen firsthand how inclusive digital tools can transform lives and communities. SynerFi is not just a breakthrough for the Philippines—it’s part of a broader global shift toward empowering underserved populations through technology,” Butcher adds.

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