The Securities and Exchange Commission (SEC) has ordered digital lending firm Digido Finance Corp. to permanently cease its financing operations, after finding that the company continued extending loans despite the revocation of its corporate registration and financing license last year.
In an order dated Feb. 18, 2026, the SEC’s Financing and Lending Companies Department (FLCD) held Digido administratively liable for violating Sections 12(b)(1) and (2), and Section 14 of the implementing rules and regulations of Republic Act No. 8556, or the Financing Company Act.
Section 12 of the law’s IRR bars entities from operating as a financing company or holding themselves out as such without a valid certificate of authority and certificate of incorporation. Section 14 penalizes non-compliance with lawful and immediately executory SEC orders.
The regulator imposed a total administrative fine of ₱600,000 — ₱100,000 each against the company and its five officers: president Aleksei P. Kosenko, corporate secretary Juan B. Solomon Jr., independent director Leonardo G. Serrano Jr., treasurer Aries C. Felipe, and compliance officer Leo Cezar G. Caballes.
The SEC had earlier revoked Digido’s certificate of incorporation and its certificate of authority to operate as a financing company through an order issued on May 9, 2025.
However, following an investigation, the FLCD found that Digido continued to process and approve loan applications, release loan proceeds, issue disclosure statements and promissory notes, and maintain active loan accounts even after the revocation.
Digido argued that the revocation order was not yet final and remained subject to appeal. The FLCD rejected this claim, noting that revocation orders are classified as immediately executory under the 2016 SEC Rules of Procedure.
“Each post-revocation loan transaction constitutes a discrete and independent act of engaging in the business of a financing company without authority,” the order stated.
“The statutory violation is not theoretical; it attaches to every extension of credit made after revocation.”
The SEC also found that Digido continued servicing and collecting loan payments through Fingertip Finance Corp., a wholly owned subsidiary of Singapore-based Robocash Pte. Ltd.
According to the order, the use of Fingertip to channel collections demonstrated that the financing operations were still active despite the withdrawal of authority.
“The continuation of collection operations through Fingertip is particularly telling,” the order read. “Collection and servicing are not ministerial remnants of past activity when they are executed through structured payment channels, borrower communications, and organized remittance instructions.”
“They are integral incidents of financing operations. By directing borrowers to remit payments through Fingertip after revocation, [Digido] sustained the operational core of its financing business despite the Commission’s withdrawal of authority,” it added.
