Archive
Philippines Fintech Groups Pilots the Fintech Industry Sandbox
The Fintech Alliance.PH and Fintech Philippines Association (FPH) introduced the Philippines Fintech Industry Sandbox pilot which was first announced during the Singapore Fintech Festival 2020. The sandbox pilot initiative is supported by the UK’s ASEAN Economic Reform Programme (ASEAN ERP)
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EastWest’s Digital Bank Komo Taps Brankas for Instant in-App Deposits
Komo, a digital banking service created by EastWest Bank, has partnered with open banking solution provider Brankas to enable instant in-app deposits. With this partnership, Komo users can now instantly top-up their balance directly from the app. In order to
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RCBC Reports Exponential Surge in Contactless Payments in the Past Year
Rizal Commercial Banking Corporation (RCBC) announced that it witnessed massive growth in its digital payments volume in the past year. The value of InstaPay and PESONet fund transfers of RCBC Online and its mobile banking app increased by 293% compared
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UnionBank to Fully Migrate to AWS’ Cloud by 2022
Amazon Web Services (AWS), an Amazon.com company, announced that the Union Bank of the Philippines will migrate its IT infrastructure from on-premises to cloud by 2022. The migration is intended to accelerate the bank’s digital transformation, improve customers’ digital banking
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Nearly 1 Million Filipinos Signed up Online for National ID via Digital Registration
More than 800,000 have already signed up for the Philippine Identification System (PhilSys) via digital registration, according to the Philippine Statistics Authority (PSA). The government is urging Filipinos to sign up for the Philippine identification (PhilID), the national ID, to
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LANDBANK Unveils Digital Onboarding for Account Opening via Mobile App
The Land Bank of the Philippines (LANDBANK) has rolled out digital onboarding for its customers to enable them to open a savings account without the need to visit a physical branch. The state-run bank launched the digital onboarding system known
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BSP Deputy Governor: Digital Bank License a Game Changer for Financial Inclusion
As the Philippines begins awarding its first digital banking licenses, incumbents are gearing up for a new era in banking, ramping up their digital capabilities to address market shifts and changing customer expectations. During a virtual panel discussion with Fintech
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Neobank Tonik Bags US$17 Million in Pre-Series B Funding Round Backed by Sequoia
Philippines neobank Tonik announced that it has raised US$17 million in a Pre-Series B funding round. The round comes on the heels of Tonik’s public launch in March 2021, which saw it secure over US$20 million (1 billion pesos) in
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Australian BNPL Firm Zip Drives Expansion in South East Asia With Investment in TendoPay
Australian Buy Now, Pay Later (BNPL) company Zip Co has furthered its global expansion, announcing a strategic investment in TendoPay, a BNPL provider based in the Philippines. The investment represents Zip’s first step into South East Asia, which will also
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PayMaya Emerges as the First Fintech to Integrate the QR Ph Payment Option
PayMaya, a mobile wallet under the purview of PLDT, has become the first fintech company to adopt QR Ph for merchants that was launched by the Bangko Sentral ng Pilipinas (BSP) in cooperation with BancNet and the Philippine Payments Management.
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