Virtual Banking
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
Read More
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
Read More
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).
Read More
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$1.4 billion. The round was led by Voyager’s first
Read More
Philippines’ UNO Digital Bank Plans to Issue Debit Cards Powered by Mastercard
Bangko Sentral ng Pilipinas-licensed UNO Digital Bank announced that it is partnering with Mastercard to issue virtual and physical debit cards in the country. The virtual cards will make it easy for customers to transact online, and the physical card
Read More
Tonik Appoints Former Google, Meta Director as Its Chief People Officer
Philippines’ digital bank Tonik announced today the appointment of Manoj Varghese as its Chief People Officer to spearhead its growth and cultural integration. Manoj was formerly Google’s HR Director for Japan and Asia Pacific (JAPAC) as well as Director of
Read More
Fintech Takes Lion’s Share of Philippines Tech Funding for Second Consecutive Year
The Philippines’ fintech industry is blossoming on the back of surging funding activity, a conducive regulatory environment, and rapid adoption of digital financial services, a new report by the Boston Consulting Group (BCG) and Foxmont Capital Partners shows. In 2021,
Read More
Tonik Aims to Roll Out BNPL and Crypto Products in the Next Year
Philippines’ neobank Tonik marks its first year of operations in the country after securing a digital bank license from the Bangko Sentral ng Pilipinas (BSP) in June last year. Since its public launch, Tonik recorded PHP 1 billion (US$ 20
Read More
Tonik Pulls in US$131 Million From Series B Fundraise Led by Mizuho Bank
Philippines’ digital bank Tonik announced that it closed a US$131 million Series B equity funding round led by Japan’s Mizuho Bank which has been active in the country since 1981. Other significant new investors in the round included Prosus Ventures
Read More
RCBC’s DiskarTech App Recorded 5-Digit Growth in Transactions Last Year
Rizal Commercial Banking Corporation (RCBC) has witnessed a five-digit growth in both transaction volume and value through its digital platforms as of 2021. The bank’s financial inclusion app DiskarTech has reached over five million downloads in less than two years
Read More