Virtual Banking

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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Nearly 1.5M Underbanked Filipinos Onboarded With RCBC’s DiskarTech App

With over 2 million mobile app downloads in two months, Rizal Commercial Banking Corporation (RCBC) has pushed for digital adoption, recording more than 1.43 million new accounts onboarded digitally during the lockdown. An estimated 610,000 DiskarTech basic deposit account holders

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RCBC’s Diskartech Reaches 1 Million Downloads

DiskarTech, powered by Rizal Commercial Banking Corporation (RCBC), has reached one million downloads just 38 days from its market launch. It was also ranked second overall amongst mobile apps in the country by Google Play Store and Apple Store and

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RCBC’s Diskartech Tops Google Play’s Free Finance Apps, Surpassing Gcash and PayMaya

DiskarTech, Rizal Commercial Banking Corporation’s (RCBC) virtual bank has claimed the top spot among free finance apps in Google Play for Android users in the first month since its launch. As for users of iOS devices, DiskarTech ranks second among

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Diskartech’s Taglish Digibank App Sees 8 Downloads by Filipinos Every Minute

Barely three weeks after its launch, more unbanked and underserved Filipinos are now downloading the country’s first and only Taglish inclusion super mobile app, DiskarTech. Taglish refers to the Philippine language Tagalog infused with American English terms that has been

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CIMB’s Digital Bank in Philippines Poised for 500% Growth in 2020

CIMB Bank Philippines is foreseeing a 500% increase in their deposit balances by end-year, following a reported 160% surge of average cash-in per customer in the second quarter of 2020. Their momentum for customer acquisition stood strong throughout April to

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Philippines’ Digital Bank tonik Announces Partnership With Mastercard

Fresh off raising their US$ 21 Million Series A round, tonik announced today a partnership with Mastercard, which will allow its users access to Mastercard’s global network. This will enable its users to make payments anywhere with any merchants who

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