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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Philippine Fintech Festival to Showcase Philippines as Asia’s Next Fintech Hotbed

The Philippines is all set to cement its role as the next hotbed for fintech and tech innovation with all the necessary ingredients to tech up already present in the Southeast Asian country. A solid financial and business ecosystem with

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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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1st Online Property Loan Platform in Philippines Launched

A financially-backed property fintech firm on Wednesday launched the first-ever online mortgage broker platform in the Philippines that makes the property loan application process easier and more efficient. The platform, Nook, will enable Filipinos to conduct entire property search, do

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