Search Results for: GoTyme Bank

January 25, 2023 @ 8:22 pm By Omar Faridi  |  

Newly launched Filipino digital bank GoTyme Bank has partnered with global cloud banking platform Mambu in order “to deliver an innovative digital banking solution that is aiming to improve access to high quality financial services for Filipinos.” Singapore-based Tyme Group, which has partnered with Gokongwei… Read More

August 18, 2021 @ 4:09 pm By Omar Faridi  |  

GOtyme, which is a joint initiative between Philippines-based conglomerate Gokongwei Group and Singapore’s virtual banking group Tyme, has reportedly acquired the fifth digital banking permit from the Bangko Sentral ng Pilipinas (BSP), the nation’s central bank. GOtyme is set to introduce its services during Q2… Read More

December 20, 2024 @ 1:38 pm By Michael Wong  |  

Singapore-based digital banking firm Tyme Group has successfully raised $250 million in a Series D funding round, elevating the company to unicorn status with a valuation exceeding $1.5 billion. The funding round was led by Brazilian digital banking powerhouse Nubank, which contributed $150 million, while… Read More

December 10, 2024 @ 7:17 pm By Michael Wong  |  

CIMB Bank Philippines will not seek a digital banking license from the Bangko Sentral ng Pilipinas (BSP), opting instead to enhance its digital banking capabilities using its existing commercial banking license. The bank believes this approach provides sufficient flexibility to introduce a broader range of… Read More

October 13, 2024 @ 1:21 pm By Michael Wong  |  

Philippine digital banks aiming to tap the country’s large unbanked and underbanked population are facing significant risks associated with lending to these segments, Fitch Ratings reported. The Philippines, like several other Asia-Pacific markets, has lower credit and banking penetration compared to developed economies. Digital lenders… Read More

July 27, 2024 @ 1:00 pm By Michael Wong  |  

The central bank of the Philippines will resume accepting applications for digital banking licenses after a three-year moratorium, signaling a significant expansion in the burgeoning sector. Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said the number of available slots for new entrants will… Read More

April 25, 2024 @ 10:28 pm By Michael Wong  |  

The Philippine digital banking sector has attracted more than $700 million in investments from both global and local sources since 2021, demonstrating robust investor confidence and a rapidly growing market, according to a statement released by the Digital Bank Association of the Philippines (DiBA PH)…. 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

September 26, 2021 @ 8:48 pm By Omar Faridi  |  

Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, awarded the sixth virtual banking permit to Voyager Innovations via its Fintech division PayMaya Philippines. PayMaya had acquired $167 million in capital from Philippines-based telecom firms PLDT, international investment company KKR, Chinese technology company… Read More

August 22, 2021 @ 10:29 pm By Omar Faridi  |  

Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, recently confirmed  that it will no longer be accepting applications for new virtual banks including firms seeking to  convert their current status, starting from September 1, 2021. Virtual banking applications sent to the nation’s… Read More