Open Banking
Netbank Closes Series A Funding Round Led by Beenext
Netbank, a Philippines-based neobank that offers Banking-as-a-Service solutions, announced that it has closed its Series A funding round. The investment sum was not disclosed. The round was led by regional venture capital firm Beenext with participation from Kaya Founders and
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MPT Mobility Taps Brankas to Enable Instant Toll Reloads via Bank Accounts
Open banking solution provider Brankas has announced a new integration that will allow MPT DriveHub app users in the Philippines to reload using their local bank accounts. MPT Mobility is a subsidiary and the innovations arm of Metro Pacific Tollways
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BSP Seeks Public Feedback on Open Finance Pilot
The Bangko Sentral ng Pilipinas has requested feedback from financial institutions and third-party providers for the Open Finance Pilot in the country. The regulator aims to strengthen the development of open finance technical and operational standards and arrangements through this.
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Tonik Taps Google Cloud to Build its Digital Bank
Philippines’ neobank Tonik announced that it is has built on Google Cloud’s advanced platform to deliver its financial services in just 10 months. The bank had leveraged Google Cloud’s expertise in scalable infrastructure, application programming interface (API) management, machine learning (ML)
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Bangko Sentral Ng Pilipinas Launches Open Finance Framework
The Bangko Sentral ng Pilipinas (BSP) has formally launched the Open Finance Framework, which aims to promote collaborative partnerships and digital transformation as key enablers towards economic resilience and financial inclusion. Open Finance is the extension of data sharing principles,
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Philippines’ Cantilan Bank Partners AFIN to Roll Out Mobile App for the Unbanked
Philippines rural bank Cantilan Bank (CANBNK) partnered the ASEAN Financial Innovation Network (AFIN) to launch its new mobile banking application “iCAN”. AFIN is a not-for-profit entity known for its open banking platform APIX and was established in 2018 by the
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PERA HUB Join Forces With Brankas to Launch Digital Remittance Platform
Philippines’ financial services center PERA HUB has joined forces with Brankas, an Indonesian open API technology provider, to launch a digital remittance platform, PERA HUB Conex. The platform serves foreign and local remittance companies, fintech partners, banks, e-wallets, brick-and-mortar retailers,
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RCBC Rolls Out Open Banking Partnership With the Rural Bankers Association
The Rizal Commercial Banking Corporation (RCBC) has rolled out an enabling digitalisation initiative with a new partnership with the Rural Bankers Association of the Philippines (RBAP) for the SynerFi Open Finance Network. This move comes days after the Bangko Sentral
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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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