Digital Banking

GoTyme Counters Claims of Substantial Losses, Cites Growth and Adoption Metrics

In response to a report published by an online news portal claiming GoTyme Bank faced considerable losses in 2023, the digital bank has labelled these assertions as “incomplete, sensationalised, and misleading.” GoTyme, a venture between the Gokongwei Group of Companies

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UnionDigital Bank to Grow Loan Portfolio to ₱40 Billion, Introduce Virtual Cards

UnionDigital Bank, Inc., the digital banking division of Union Bank of the Philippines, aims to elevate its loan portfolio to nearly P40 billion this year through the introduction of new financial products, including an expanded loan selection and virtual cards.

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BPI to Sell Entire Stake in GoTyme Bank Following Strategic Review

The Bank of the Philippine Islands (BPI) has decided to divest from digital bank GoTyme, selling its entire stake acquired following the merger with Robinsons Bank Corp (RBC). This involves offloading 752,056,290 common shares, with the transaction valued at roughly

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Neobank Zed Unveils “No-Fee” Credit Card in the Philippines

Zed, a credit-led neobank, has introduced what is described as the country’s first credit card that will do away with several common charges. This card uniquely features no foreign transaction fees, interest, or annual charges — it is being billed

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“Big Bang” Bank Upgrades Spell Trouble, Mambu Makes Case for Incremental Change

Core banking systems serve as the backbone of financial operations and customer interactions for banks worldwide. They facilitate critical transactions like loan management, withdrawals, and deposits in real-time. However, maintaining such a system comes at a hefty cost. Financial institutions

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Breaking Down Digital Banking Products in the Philippines

Digital banking has swiftly expanded across Asia, notably achieving reasonable success in nations such as South Korea, China, and Japan. Within Southeast Asia’s digital banking sector, the Philippines joined Singapore as early adopters of digital bank products and services amid

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Only Two of Six Philippine Digital Banks Are Profitable, Says BSP

Recent insights from the Bangko Sentral ng Pilipinas (BSP) have cast light on the challenging environment facing the Philippines’ digital banking sector. According to Melchor Plabasan, Director at the BSP, among the six digital banks operational within the nation, only

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Tonik Financial Confirms Multiple Layoffs in Bid for Profitability

Tonik Financial, headquartered in Singapore and operating the Tonik Digital Bank in the Philippines, has recently revealed a reduction in its workforce, which the company says is a strategic move towards enhancing revenue streams and attaining profitability. The decision, as disclosed

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GoTyme Projects Doubling Customer Base to 5 Million, Unleashing New Products in 2024

GoTyme Bank is poised for considerable growth, with expectations to more than double its customer base by the conclusion of this year. This anticipated expansion is linked to the bank’s plans to introduce a broader range of products and services.

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UNO Digital Bank Secures $32.1 Million in Funding to Fuel Expansion

UNOAsia Pte Ltd has secured US$32.1 million in a recent pre-Series B funding round, with the mix of equity and debt funding aimed at reinforcing the operations of UNO Digital Bank in the region, with a particular focus on technology

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