Virtual Banking

Tyme Secures US$110 Million Funding, Eyes Virtual Banking License in the Philippines

Tyme, a multi-country digital banking group headquartered in Singapore, announced its US$110 million Series B capital raise, bringing foreign investment into South Africa for TymeBank and laying the foundation for Tyme’s expansion across ASEAN starting with the Philippines. The new

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RCBC’s DiskarTech App Disburses Social Security Loan Proceeds and Benefits

Members of the Social Security System (SSS) nationwide can now get their SSS benefits and loans proceeds through Rizal Commercial Banking Corporation’s (RCBC) DiskarTech app. During the partnership launch, RCBC President and Chief Executive Officer Eugene S. Acevedo and SSS President

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Philippines Digibank Tonik Taps FinScore’s Alternative Credit Scoring Solution

Philippines digital bank Tonik has selected FinScore, a local alternative credit scoring company to process loan applications for its Filipino customers. FinScore’s AI-powered telco data credit scoring solution will be integrated with Тonik’s digital banking platform. The credit score will

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CIMB Philippines Doubles Customer Base to Over 3 Million

CIMB Bank Philippines had doubled its deposit customer base to exceed 3 million total banking customers with an 800% increase in deposits balance sheet, and 30% of these deposit customers claimed that CIMB was their first bank account. Amidst the

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DiskarTech Ranked as the Most Downloaded Finance App in 2020

DiskarTech, Rizal Commercial Banking Corporation’s (RCBC) virtual bank, has emerged as the Philippines’ number one finance app released in 2020 across distribution platforms in terms of downloads according to App Annie, global provider of mobile data and analytics. DiskarTech had

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DigiBankASIA Taps Backbase for Its Prospective Digital Bank UNO

Backbase, a banking software provider, has been selected by DigiBankASIA to offer its full-stack digital engagement banking platform solution for its digital bank UNO. Together with ecosystem partners Mambu and Amazon Web Services (AWS), Backbase is powering UNO to deliver

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Philippines Is The Latest to Approve a Digital Banking Framework

​The Monetary Board approved the recognition of digital bank as a new bank category that is separate and distinct from the existing bank classifications.  A digital bank is defined as a bank that offers financial products and services that are

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Digibank Tonik Selects CRIF for Automation of Its Loan Origination Processes

tonik, the Philippines’ digital-only neobank, announced its collaboration with solutions provider CRIF for the automation of its loan origination and collection systems. tonik is set to launch a full range of banking services including a transactional savings account, time deposit accounts

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Phillippines’ Digital Banking Framework to Trigger Wave of Innovation for the Unbanked

In the Philippines, the upcoming digital banking framework will trigger a wave of innovation and help address financial exclusion, experts said. During a recent webinar, experts representing CIMB Bank, RCBC, Finastra and Microsoft, discussed the forthcoming digital banking license, arguing

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Philippines Central Bank Inches Closer to Issuing New Digital Banking Regulation

The Bangko Sentral ng Pilipinas (BSP) is planning to issue later this month a new circular on the establishment of digital banks, BSP deputy governor for banking supervision and examination Chuchi Fonacier told the Inquirer on September 2. For his

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