Tagged: Philippines

April 15, 2024 @ 10:34 am By Omar Faridi  |  

Investment platform TWINO is announcing the suspension of lending operations in the Asia-Pacific region. TWINO says that it is reaching out to provide clients “with an important update regarding TWINO Group’s lending operations in Vietnam and the Philippines, part of the joint venture with VIA… Read More

April 14, 2024 @ 2:24 pm By Omar Faridi  |  

Tether Operations Limited, which claims to be one of the largest companies in the digital asset industry, and Coins.ph, a digital asset exchange in the Philippines, announced that they are joining forces to promote financial education of blockchain technologies, Bitcoin, and Stablecoins, in the region…. Read More

April 7, 2024 @ 9:14 am By Michael Wong  |  

Financial inclusion data provider Smile API has successfully closed a funding round with DEG‘s Up-Scaling program, a venture supported by the German Development Finance Institution. This initiative, co-financed by the German Ministry for Economic Cooperation and Development, channels investments into innovative Fintech and greentech ventures… Read More

March 19, 2024 @ 4:13 pm By Omar Faridi  |  

Tonik, the digital bank in the Philippines, announces the appointment of Mr. Cesar O. Virtusio as a new Independent Director on the Board of its regulated bank subsidiary, Tonik Digital Bank Inc. Mr. Virtusio, an experienced professional in the Philippine and foreign banking and finance… Read More

March 11, 2024 @ 8:30 pm By Michael Wong  |  

Philippine-listed network provider PLDT Inc. has announced the launch of Digico, a new digital venture created to harness the extensive data assets of the MVP Group of Companies. This initiative marks a significant move towards accelerating digital transformation and opening up new growth and value… Read More

March 9, 2024 @ 6:27 pm By Michael Wong  |  

Philippine bank lending in January 2024 surged by 7.8 percent compared to the same month the previous year, signaling a robust acceleration from the 7.1 percent growth recorded in December 2023, according to preliminary data released on March 8, 2024. This increase in lending by… Read More

February 20, 2024 @ 9:38 pm By Omar Faridi  |  

Tonik Digital Bank, the Philippines’ first digital-only neobank, revamped the Big Loan, a multipurpose loan catering to a wider range of Filipinos’ financial needs. First launched in 2023, the Big Loan reportedly “offers borrowers up to P5 million with flexible, tailored repayment options, competitive interest… Read More

February 18, 2024 @ 6:23 pm By Michael Wong  |  

Overseas Filipinos (OFs) sent home a record $3.6 billion in personal remittances in December 2023, marking a 3.9 percent increase from the $3.5 billion reported in the same month in 2022, according to data released by the Bangko Sentral ng Pilipinas, the central bank of… Read More

February 14, 2024 @ 6:14 pm By Omar Faridi  |  

Tonik Digital Bank announces its newest strategic collaboration with Southeast Asian payment gateway, Xendit. The partnership marks a significant milestone for both companies, “as they join forces to deliver secure, convenient, and customer-centric financial solutions.” The partnership with Xendit will further “enrich Tonik’s ecosystem by… Read More

February 3, 2024 @ 8:29 am By Michael Wong  |  

Wise, the UK-based Fintech stealth bank that was formerly known as TransferWise, has officially expanded its operations into the Philippines with the launch of Wise Pilipinas. In a significant move to bolster its board, Wise Pilipinas has welcomed Isabel Ridad, founder of Monetize, as its… Read More

January 29, 2024 @ 8:13 pm By Omar Faridi  |  

Tonik Digital Bank Inc. (TDB), the digital bank in the Philippines, announced a significant leadership transition. Long Pineda, President of TDB, will be retiring from her executive role and will “assume the position of non-executive Chairman of the Board of Directors of TDB.” In her… Read More

January 28, 2024 @ 6:47 pm By Michael Wong  |  

Digital banks are now seeking to engage with the Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, to establish multilateral relationships and foster an open banking ecosystem. This initiative aims to attract more borrowers and support the operation of digital banks in… Read More

January 24, 2024 @ 7:27 pm By Omar Faridi  |  

Informatica (NYSE: INFA), an enterprise cloud data management leader, today announced that UnionBank of the Philippines, a universal bank in the Philippines, has chosen to adopt Informatica’s intelligent Master Data Management (MDM) SaaS as “the bank transitions from an on-premises solution to the cloud as… Read More

January 21, 2024 @ 5:59 pm By Michael Wong  |  

Financial firm AllBank and digital payment platform JustPayTo have announced a strategic partnership aimed at enhancing the digital payment ecosystem in the Philippines. In a statement, the two firms said their partnership seeks to revolutionize the way customers engage in cashless transactions, especially in the… Read More

January 21, 2024 @ 5:44 pm By Michael Wong  |  

Philippine-based web3 gaming player Yield Guild Games (YGG) announced its collaboration with Iskra, a blockchain gaming hub and launchpad, to introduce innovative questing systems to its platform. Iskra, backed by industry giants such as LINE, Kakao, Wemade, and Netmarble, boasts over four million registered wallets… Read More

January 13, 2024 @ 3:46 pm By Michael Wong  |  

Southeast Asian Fintech company Salmon said it has secured approval from the Monetary Board of the Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, to acquire a majority stake in the Rural Bank of Sta. Rosa (Laguna), a Filipino financial institution established in… Read More

January 11, 2024 @ 10:45 pm By Omar Faridi  |  

Salmon, a fintech working to improve access to credit, savings and investments for over 500 million underserved customers in Southeast Asia, announces that it has received regulatory approval from the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) in order to “acquire the controlling… Read More

January 7, 2024 @ 6:22 pm By Michael Wong  |  

A recent survey conducted by high-impact research firm Capstone-Intel Corp. has revealed a significant trend in the Philippines: 90% of Filipinos now regularly use financial technology (fintech) applications for their daily transactions. This growing reliance on digital finance underscores the urgency for improvements in security… Read More

January 4, 2024 @ 11:05 am By Omar Faridi  |  

Netbank, an embedded finance platform in Southeast Asia, is pleased to announce a transformative partnership with Sprout Solutions, the HR and payroll software provider in the Philippines. This collaboration marks a significant leap forward in “redefining the employee benefits landscape through the introduction of an… Read More

December 23, 2023 @ 5:41 pm By Michael Wong  |  

The Philippines’ Securities and Exchange Commission (SEC) has successfully driven the growth of the country’s crowdfunding sector, with funds raised approaching P2 billion (about $36 million) in the last three years. This surge in crowdfunding activity is a direct outcome of the SEC’s nationwide campaign,… Read More