MANILA – The Securities and Exchange Commission (SEC), Mynt Inc., the parent company of GCash, and its lending arm Fuse Financing Inc. have signed a memorandum of understanding (MOU) to promote financial literacy and strengthen consumer protection.

In a news release issued Tuesday, the SEC said the partnership will enable the development of SEC-approved multimedia educational materials and public awareness campaigns that will be distributed through digital platforms to reach millions of Filipinos nationwide.

According to the SEC, the campaign will educate the public on responsible borrowing, understanding loan terms and conditions, assessing repayment capacity, identifying legitimate lenders, and recognizing warning signs of illegal lending activities and financial scams.

The SEC said the initiative also supports its mandate to safeguard the integrity of the country’s financial system by improving public awareness and financial knowledge.

The memorandum of understanding was signed on Monday at the W Global Center in Bonifacio Global City, Taguig City by SEC Commissioner Rogelio Quevedo, Mynt Chief Marketing Officer Neil Trinidad, Fuse Financing Inc. President and Chief Executive Officer Tony Isidro, and Mynt Chief Regulatory Officer Cef Sison.

“While the SEC will continue to exercise its regulatory and enforcement powers against violators, we must also empower the public with knowledge, awareness, and critical thinking,” Quevedo said.

“An informed citizen is the first line of defense against fraud,” he added.