Tagged: Philippines

August 30, 2023 @ 8:57 pm By Omar Faridi  |  

The Philippines’ “Pioneering” Digital Bank Tonik continues to take strides in furthering its Shop Installment Loan through its partnership with trusted retailer, Home Along. Since the onset of 2022, Tonik’s Shop Installment Loan “has been accessible across 70% of Home Along retail outlets, a strategic… Read More

August 20, 2023 @ 10:09 pm By Omar Faridi  |  

The Philippines’ First Neobank Tonik Digital Bank is pleased to announce the launch of its Shop Installment Loan to FC Home Center stores. The partnership pushes to “enhance the shopping experience of customers in the consumer durables market.” Customers will now have “access to 15-minute… Read More

August 20, 2023 @ 9:58 pm By Omar Faridi  |  

Atome Financial has announced that it has renewed and expanded its partnership with HSBC Singapore to include the Philippine market to its US$100m debt facility. At the moment, Atome has reportedly “disbursed more than US$4b in loans.” Atome Financial and HSBC Singapore had “entered into… Read More

August 19, 2023 @ 6:49 pm By Omar Faridi  |  

Temenos (SIX: TEMN) announced that Cebuana Lhuillier Bank, one of the most dynamic rural banks in the Philippines, has selected Temenos in order “to modernize its core banking platform, helping the bank, which serves seven million Filipinos, to quickly launch new banking products and scale… Read More

August 9, 2023 @ 10:26 pm By Omar Faridi  |  

Netbank and UBX have signed an agreement to issue loans to sellers on ecommerce platforms, and started to issue these loans. Netbank expects to rapidly “expand its lending to e-commerce sellers in the next year.” Many sellers on e-commerce platforms “require additional working capital to… Read More

August 9, 2023 @ 12:55 pm By Omar Faridi  |  

The Digital Dollar Project announced the completion of a pilot study conducted in collaboration with The Western Union Company, BDO Unibank, Inc. (BDO Unibank) in the Philippines, and support from Accenture. This collaboration represents the Digital Dollar Project’s latest private sector efforts “in support of… Read More

July 30, 2023 @ 10:21 pm By Omar Faridi  |  

The first half of the year was a “busy” one for the RoboCash Group. The holding focused “on the expansion of the current business in the Philippines and Kazakhstan, as well as the systematic preparation for the opening of new markets.” As noted in a… Read More

July 27, 2023 @ 1:22 am By Omar Faridi  |  

Netbank, the Filipino embedded finance platform, is plessed to announce its strategic partnership with Pays0, a dynamic payments company, to offer seamless funds disbursement services through a cutting-edge application programming interface (API). This collaboration proves the opportunities in the Filipino payments market and marks a… Read More

July 25, 2023 @ 10:17 pm By Omar Faridi  |  

Bangko Sentral ng Pilipinas (BSP) reports that personal remittances from Overseas Filipinos (OFs) reportedly “reached US$2.78 billion in May 2023, higher by 2.9 percent than the $2.70 billion registered in the same month last year.” The increase in personal remittances in May 2023 was “due… Read More

July 23, 2023 @ 5:00 pm By Omar Faridi  |  

Consumer fintech Salmon announced it has secured a $20 million debt facility from U.S. emerging-markets specialist investment firm Argentem Creek Partners, enabling Salmon to further scale its lending operations across the Philippines. Building on significant investor interest in the debt placement, Salmon will expand its… Read More

July 3, 2023 @ 7:20 am By Omar Faridi  |  

PeerBerry investors funded €65.12 million of loans in June and received €819,213 in interest. The amount of funded loans on the PeerBerry platform “was 3% higher than the previous month.” PeerBerry’s portfolio “amounted to €115.17 million at the end of June.” 1205 new investors “joined… Read More

June 20, 2023 @ 11:02 pm By Omar Faridi  |  

Finance Secretary Benjamin E. Diokno and Ambassador of India to the Philippines Shambhu Santha Kumaran signed a memorandum of understanding (MOU) on June 19, 2023 at the Department of Finance (DOF) office in Manila “to enhance cooperation between the Philippines and India in the field… Read More

June 18, 2023 @ 3:38 pm By Omar Faridi  |  

Pilon, a Singapore-headquartered FinTech firm that offers cloud-based Supply Chain Financing system, announced that it has successfully secured a top-up round from Philippines-based Kaya Founders “to accelerate growth plans and strengthen its presence in the Philippines market.” This undisclosed round of funding “follows a highly… Read More

June 11, 2023 @ 6:54 pm By Omar Faridi  |  

Tonik recently revealed that it’s pleased to announce that they have successfully “onboarded over 1 million users since they launched in March 2021.” According to Tonik, this is such a momentous occasion for them “because it is solid proof of our significant contribution to improving… Read More

June 11, 2023 @ 12:03 pm By Omar Faridi  |  

Netbank, the banking as a service platform, has launched a service that allows international remittance companies to facilitate overseas remittances into the Philippines. The market for Philippine Peso remittances “is huge since there is a large number of Filipino migrant workers all around the globe.”… Read More

May 23, 2023 @ 10:16 pm By Omar Faridi  |  

Netbank, the Filipino banking as a service platform, is pleased to announce the successful completion of its Series A investment round. The investment round was led by Beenext, a prominent regional venture capital firm, with participation from leading Filipino investors: Kaya Founders and Oak Drive… Read More

May 23, 2023 @ 6:37 pm By Omar Faridi  |  

In today’s digital age, financial institutions are increasingly “moving their services online,” according to an update from Jumio. However, with this “comes the risk of fraud and identity theft, which can have severe consequences for both the financial institution and the consumer.” This is “where… Read More

May 16, 2023 @ 10:07 pm By Omar Faridi  |  

Macau Pass has been officially approved to provide acquiring services to Alipay+ market-leading partner e-wallets from the Philippines, Malaysia, and Thailand. This means that in addition to Alipay, AlipayHK, WeChat Pay, Simple Pay and other e-wallets launched by other banks in Macau, Macau Pass payment… Read More

May 6, 2023 @ 10:25 am By Omar Faridi  |  

Brex announced new global capabilities that significantly expand its ability to support US multinational businesses operating in Brazil, Canada, Israel, Japan, Mexico, Singapore, South Africa, the Philippines, 36 European countries, and more. In addition to spending and paying in local currencies, Brex is “launching VAT… Read More

April 30, 2023 @ 5:20 pm By Omar Faridi  |  

Card payments in the Philippines are set to “grow by 10.1% in 2023 to reach PHP2.5 trillion ($45.3 billion) in 2023,” forecasts GlobalData, a data and analytics company. GlobalData’s Payment Cards Analytics reveal “that the card payments market in the Philippines registered a growth of… Read More