Virtual Banking

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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Tonik Introduces ‘Luv Stash’, a Savings Product for Couples to Earn 4.5% Interest

Following Valentine’s Day last week, Tonik Digital Bank has recently unveiled ‘Luv Stash,’ a novel savings product. This facility stands out in the market by allowing two individuals to jointly save whilst earning an interest rate of 4.5%. The idea

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Gotyme Bank and Its Remarkable Journey as Part of Tyme Group and Gokongwei

GoTyme Bank stands out as a beacon of digital banking promise in the Philippines, less than two years after launch, in an era where fintech innovations are rapidly transforming the global banking landscape. The unique joint venture between Tyme Group,

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Tonik and Xendit Collaboration to Grow Digital Banking Payment Options

Tonik Digital Bank and the Southeast Asian payment gateway Xendit have announced a new strategic partnership, set to enhance the range of financial services available to Tonik consumers by introducing secure and convenient options for managing financial transactions. Starting from

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LANDBANK’s OFBank Eyes Introduction of Digital Loans

The Land Bank of the Philippines (LANDBANK), through its digital arm Overseas Filipino Bank (OFBank), is contemplating the introduction of digital loans. This initiative was revealed by LANDBANK President and Chief Executive Officer, Lynette V. Ortiz, at a recent central

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Digital Banks Engage with BSP to Drive Growth and Foster Open Banking

Digital banks are currently reaching out to the Bangko Sentral ng Pilipinas (BSP), the Philippines’ central bank, in an effort to create collaborative relationships and develop an open banking environment. The purpose of this engagement is to increase borrower engagement

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Maria Pineda Takes Helm as New Chair of Tonik Digital Bank’s Board

Tonik Digital Bank, Inc. has recently appointed Maria Lourdes “Long” Pineda as the non-executive Chair of its Board of Directors. Maria, with a background in financial inclusion and banking, was previously the President of Tonik since 2019. Her career, spanning

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Tyme Group’s Digital Bank Achieves Profitability in Record Time

Tyme Group, known for GoTyme in the Philippines, has announced its annualised revenue run rate reaching approximately US$160.7 million in 2023. This financial milestone is a testament to the remarkable success of its flagship South African operation, TymeBank, which now

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Tonik Upgrades Loan Offering to Cater to SMEs

Tonik Digital Bank recently updated its Big Loan product, aiming to address a broader range of financial requirements for small businesses in the Philippines. This enhancement is part of Tonik’s efforts to support the growing needs of small and medium

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Digital Banks Navigate Lending Challenges Amid Deposits Growth, BSP Reports

The Bangko Sentral ng Pilipinas (BSP) has recognised challenges faced by digital banks in lending and payment collection. BSP Governor Eli M. Remolona, Jr. highlighted the struggles these online banks face in effectively managing loans, despite their success in amassing

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