Posts From Fintech News Philippines
TONIK Raises US$6 Million, Eyeing to Launch Digital Bank in Philippines by 2020
TONIK announced today that it closed a US$ 6 Million round of equity funding led by regional VC investors Insignia Ventures Partners and Credence partners. The funds raised will be used to launch its digital bank in the Philippines, targetting
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Philippines’ Central Bank Senior Official Questions Fintechs’ Ability to Boost Financial Inclusion
A Bangko Sentral ng Pilipinas (BSP) official has raised the need to check on whether financial technology (fintech) firms can indeed boost financial inclusion in the Philippines, citing the large number of Filipinos who remain unbanked. In her speech during
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CIMB Picks Jumio’s Digital Onboarding Solution for its Digital-Only Bank in Philippines
CIMB’s digital-only banking arm in the Philippines and Jumio announced today the bank has picked the end-to-end identity verification provider to power its digital onboarding. According to their press statement, CIMB Bank PH’s mobile app integrates Jumio’s AI-driven identity verification
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RCBC’s New Digital Bank to Focus on Philippines’ Underserved Markets
The Board of Directors of the Rizal Commercial Banking Corp. (RCBC) has approved the creation of cloud-based digital bank with a rural bank license as disclosed with the Philippine Stock Exchange on Tuesday. Once regulatory approvals are secured, RCBC’s virtual
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Top 16 Fintech Events in the Philippines to Attend in 2020
With a population of over 100 million people and rising Internet and mobile penetration rates, the Philippines is poised to see its fintech industry boom. The sector has witnessed significant growth over the past couple of years on the back
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Philippine Banks ATM Fees Compared
Bank of the Philippine Islands (BPI), Banco de Oro (BDO), Rizal Commercial Banking Corporation (RCBC), Metrobank and the Philippine National Bank (PNB) and UnionBank of the Philippines are the six banks in the Philippines charging the lowest ATM fees, while
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Philippines Digital Bank TONIK Picks Finastra to Power Its Core Banking
Finastra announced today that TONIK, a licensed digital-only bank in Philippines, has selected Fusion Essence in the cloud to power its end-to-end core banking capabilities. According to the parties involved, the move will support TONIK as it launches its retail
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Philippines’ Fintech Alliance Launches Campaign to Aid Taal Volcanic Eruption Victims
The FinTech Alliance.ph has mobilized the entire Philippine digital industry to quickly assist the victims of the recent Taal volcano eruption which is still at alert level 4 or ‘hazardous eruption’ imminent in the coming days. Ashfall reached more than
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A New Digital Bank Will Launch in the Philippines in 2020
TONIK Financial announced today that its subsidiary in the Philippines has received Notice of Approval for a new banking license from the Central Bank of the Philippines. The license will enable Tonik to provide a full range of retail banking
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Philippines’ Lawmaker Pushes for Virtual Banking Regulation
Albay Representative Joey Salceda on Monday filed a measure providing a regulatory framework for virtual banking to boost the financial inclusion thrust pursued by the Bangko Sentral ng Pilipinas. Salceda, chairman of the House Committee on Ways and Means, filed
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