Tagged: Philippines

July 31, 2021 @ 7:44 pm By Omar Faridi  |  

NextPay, a digital platform that provides business owners and entrepreneurs with banking services, has acquired $1.6 million (more than P80 million) in capital via a seed round. As noted by its management: “NextPay is the best alternative to bank accounts for small businesses and entrepreneurs… Read More

July 28, 2021 @ 10:38 pm By Omar Faridi  |  

Paymaya, the mobile money and payments provider based in the Philippines, has selected Iliad Solutions as its payments testing supplier. Iliad Solution’s products and services, which are being used by major financial institutions throughout the world, have been developed to help with minimizing the risk… Read More

July 24, 2021 @ 3:26 pm By Omar Faridi  |  

The Union Bank of the Philippines, which is part of a conglomerate that is led by Aboitiz Equity Ventures, will be launching the fourth all-digital banking platform in the Southeast Asian country. This, according to a Philstar Global report. The UnionBank’s virtual bank application has… Read More

July 18, 2021 @ 9:58 am By Omar Faridi  |  

Philippines-based Netbank has now partnered with several alternative lenders so that the lending platforms can expand their operations without having to acquire additional funding. Netbank, the first Southeast Asia-based banking as a service (BaaS) platform operating via a bank license, is reportedly working closely with… Read More

July 11, 2021 @ 4:39 pm By Tony Zerucha  |  

Several factors will contribute to strong growth in card payments in the Philippines, a new report from GlobalData suggests. Gains of 15.4 percent are expected due to the gradual revival of the economy, easing of lockdown restrictions, and improving consumer spending. Those gains will leave… Read More

July 10, 2021 @ 4:53 pm By Omar Faridi  |  

Netbank and Investree have announced a new partnership in order to expand electronic SME lending in the Philippines. Netbank, which is a banking as a service (BaaS) platform, and Investree, an SME lender from Indonesia, have confirmed that their partnership will focus on expanding loans… Read More

July 8, 2021 @ 7:41 pm By Priyanka Pani  |  

Vietnam is the latest among smaller nations to have joined the crypto bandwagon as the country is developing a strategy towards having a digital government. In the last few weeks, countries such as El Salvador, Portugal, and Philipinnes have introduced regulations around cryptocurrencies. Vietnam’s Prime… Read More

July 6, 2021 @ 10:45 pm By Priyanka Pani  |  

Crypto-trading platform PDAX has launched seven new cryptocurrencies for its users: Chainlink (LINK), Enjin (ENJ), Basic Attention Token (BAT), Graph (GRT), Compound (COMP), Aave (AAVE), and Uniswap (UNI). With this, the total number of coins offered on the platform is pegged at 14. Founded in… Read More

June 29, 2021 @ 7:49 pm By Omar Faridi  |  

Philippines-based digital and financial services company Voyager Innovations has secured $167 million in capital for its expansion program, which includes a venture into virtual banking, its listed and largest shareholder confirmed on Monday (June 28, 2021). Shareholders PLDT Inc, private equity firm KKR & Co… Read More

June 26, 2021 @ 11:27 pm By Omar Faridi  |  

Philippines-based neobank Netbank reveals that it has decided to join the Mastercard Fintech Express program which should allow it to access a wide range of all-digital products. Netbank will also be able to issue debit and credit cards under its partners’ brands. Through the partnership… Read More

June 26, 2021 @ 9:25 pm By Omar Faridi  |  

The Rizal Commercial Banking Corporation (RCBC) has introduced a digital transformation initiative with assistance from the Rural Bankers Association of the Philippines (RBAP). The new project will be supporting the SynerFi Open Finance Network. This development has come shortly after the Bangko Sentral ng Pilipinas… Read More

June 10, 2021 @ 1:00 am By Omar Faridi  |  

Philippines-based virtual bank Tonik recently revealed that it has managed to acquire a digital banking license from the Bangko Sentral ng Pilipinas (BSP), the nation’s central bank. Before receiving this license, Tonik had been offering services under a rural banking license (since 2019). BSP has… Read More

June 8, 2021 @ 11:48 pm By Priyanka Pani  |  

Lithuania’s central bank has revoked the license of UAB Finolita Unio, a local Fintech, on charges of violating anti-money-laundering and counter-terrorist financing rules. Finolita had received a license in 2019 from the Lithuanian central bank to execute “payment transactions” and issue, distribute and redeem electronic… Read More

June 7, 2021 @ 10:09 pm By JD Alois  |  

UNObank has received a digital bank license in the Philippines, according to a note from the company. Singapore-based Fintech DigibankASIA Pte. Ltd., creator of UNObank, has received approval from the Bangko Sentral ng Pilipinas (BSP) to operate a bank in the Philippines. The company claims… Read More

June 6, 2021 @ 10:37 pm By Omar Faridi  |  

Earlier this week, Philippines-based Netbank, a banking as a service (BaaS) platform, went live in the Southeast Asian country. Netbank has reportedly been developed by an experienced team of international and local banking professionals. Like the country’s digital bank Tonik, Netbank is a fully regulated banking… Read More

June 6, 2021 @ 9:36 pm By Omar Faridi  |  

Rizal Commercial Banking Corporation’s (RCBC) in the Philippines has revealed that its financial inclusion super app DiskarTech has been used widely as a disbursement platform for social aid, loans proceeds, dividends, and for making virtual payments. Since the community quarantines began (following the COVID-19 outbreak)… Read More

May 29, 2021 @ 10:18 pm By Omar Faridi  |  

Croatia’s Robo.cash, a peer-to-peer lending marketplace, reveals that its parent holding company, the Robocash Group, is getting ready for a $5 million bond placement in the coming days. As noted in an update, dated May 27, 2021, by Robo.cash, the Group intends to issue bonds… Read More

May 29, 2021 @ 4:14 pm By Omar Faridi  |  

Komo, a digital banking service developed by East-West Banking Corporation (EastWest) (PSE: EW) in the Philippines, has teamed up with Open Banking service provider Brankas in order to support instant in-app deposits. Through this partnership, Komo users will be able to instantly top-up their balance… Read More

May 29, 2021 @ 2:30 pm By Omar Faridi  |  

The Fintech Alliance.PH and Fintech Philippines Association (FPH) have launched the Philippines Fintech Industry Sandbox pilot which was first unveiled during the Singapore Fintech Festival 2020. The sandbox pilot is supported by the United Kingdom’s ASEAN Economic Reform Program (ASEAN ERP). It has reportedly been… Read More

May 24, 2021 @ 12:57 am By Omar Faridi  |  

Rizal Commercial Banking Corporation (RCBC) has revealed that it has seen dramatic growth in its digital payments volume during the last year. The value of InstaPay and PESONet money transfers of RCBC Online and its mobile banking app surged 293% when compared to volumes reported… Read More