Virtual Banking
Tonik Enables Real-Time Fund Transfers up to PHP 50,000 With InstaPay
Philippines digital bank Tonik announced that it has integrated InstaPay services on its mobile app to enable real-time fund transfers. Tonik said in a statement that it is the first licensed digital bank in the country to fully implement InstaPay
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Rise of Super-Apps Puts Pressure on Incumbents
In Asia, bigtechs and new digital banking challengers are rapidly gaining ground, forcing incumbent banks to rethink their business strategy and become a part of the super-app ecosystem, a new report by Finextra, in association with Infosys Finacle and OneSpan,
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GoTyme Gets Green Light From BSP to Begin Operations as Digital Bank in the Philippines
GoTyme announced that it had secured its Certificate of Authority (COA) to operate as a digital bank by the Bangko Sentral ng Pilipinas (BSP) on 29 July 2022. The issuance of a COA is the third and final stage involved
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Philippines’ UNO Digital Bank Raises US$11 Million Led by Malaysia’s Creador
Singapore-headquartered financial technology company UNOAsia, the primary incorporator of UNO Digital Bank in the Philippines, has secured US$ 11 million in a pre-Series A funding round led by Creador Private Equity. Creador has already invested a total of US$ 21
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Tonik Appoints Tomasz Borowski as Its Group COO
Philippines digital bank Tonik announced that Tomasz Borowski will be joining its leadership team as the Group Chief Operations Officer (COO). Tomasz will be based in Singapore and employed by the holding company Tonik Financial, while working closely with the
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UnionDigital Bank Secures BSP’s Approval to Begin Operations
UnionDigital Bank announced that it has secured the necessary approval from the Bangko Sentral ng Pilipinas (BSP) to operate as a digital bank on July 12, 2022. The receipt of a Certificate of Authority (COA) is the final step in
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Which Is The Most Popular Finance App in Philippines?
In the Philippines, consumers were found to be spending much more time on digital bank Tonik than any other finance app. This is according to a new report by Data.ai, an app analytics startup formerly known as App Annie, that
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PayMaya Rebrands as Maya and Launches Its Digital Bank
Philippines digital wallet PayMaya announced that it has now rebranded as Maya and officially launched its digital bank touted as “Maya Bank”. In September 2021, PayMaya was granted the sixth digital bank license by the Bangko Sentral ng Pilipinas (BSP).
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PayMaya’s Parent Company Voyager Raises US$210 Million, Vaulting It to Unicorn Status
Voyager Innovations, the company behind the Philippines digital wallet PayMaya and neobank Maya Bank, has raised US$210 million in new funds, vaulting it to unicorn status with a valuation of approximately US$1.4 billion. The round was led by Voyager’s first
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Philippines’ UNO Digital Bank Plans to Issue Debit Cards Powered by Mastercard
Bangko Sentral ng Pilipinas-licensed UNO Digital Bank announced that it is partnering with Mastercard to issue virtual and physical debit cards in the country. The virtual cards will make it easy for customers to transact online, and the physical card
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