Virtual Banking

Gokongwei-Tyme Partnership ‘GOtyme’ Clinches Fifth Digital Bank License From BSP

GOtyme, a partnership between Filipino conglomerate Gokongwei Group and Singapore-headquartered digital banking group Tyme, has secured the fifth digital bank license from the Bangko Sentral ng Pilipinas (BSP). GOtyme is expected to launch in the second quarter of 2022 and will

Read More

Unionbank Becomes the Fourth Bank To Receive Philippines Digital Banking License

The Union Bank of the Philippines, which is part of a conglomerate led by Aboitiz Equity Ventures, is set to form the fourth digital-only bank in the country, according to a Philstar Global report. The UnionBank’s digital banking application was

Read More

Netbank Partners Three Alternative Lenders to Expand Its Lending Operations

Philippines neobank Netbank has formed partnerships with 3 alternative lenders; Global Mobility Services (GMS), New Cross Credit Gate PH Inc. (Uploan) and Inclusive Financial Technologies, Inc. (Blend PH). This move will allow these lenders to expand their lending without needing

Read More

PayMaya Raises $167m from PLDT, Tencent and IFC; Eyes Digital Banking License

Philippines digital and financial services firm Voyager Innovations announced that it raised US$167 million through its financial technology arm, PayMaya Philippines. This investment includes US$121 million in fresh funding and US$46 million from previously committed funds. Participating in the funding

Read More

Neobank Netbank Joins the Mastercard Fintech Express to Become a Card Issuer

Netbank announced that it will join the Mastercard Fintech Express programme which gives it access to a vast range of the latter’s digital-first products and enabling it to issue debit and credit cards under its partners’ brands. Through the initiative,

Read More

Philippines Central Bank Cracks Down on Entities Posing as Digital Banks

The Bangko Sentral ng Pilipinas (BSP) has issued a circular to put a stop to any entities that are misrepresenting themselves as digital banks in their marketing activities. While BSP has only recently granted its first batch of licenses, several

Read More

Philippines Central Bank BSP Issues Digital Bank License to UNObank

The Bangko Sentral ng Pilipinas (BSP) has granted the third digital bank license to Singapore headquartered fintech DigibankASIA, one of the primary incorporators of UNObank. In the past few months, BSP has granted the other two licenses to state-owned Overseas

Read More

Neobank Tonik Secures Digital Banking License

Neobank Tonik announced that it has secured a digital bank license from the Bangko Sentral ng Pilipinas (BSP) as it has been operating under a rural banking license since 2019. A year later, BSP had issued a framework on the

Read More

Neobank Netbank Officially Kicks Off With a Rural Banking License

Netbank, a banking as a service platform in the Philippines, has been launched by an experienced team of international and Filipino bankers. Much like its counterpart Tonik, Netbank is a fully regulated bank operating under a rural banking license. The

Read More

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

Read More