Virtual Banking

Philippines Launches Overseas Filipino Bank, a Government Owned Digital Bank

The national government, spearheaded by the Department of Finance (DOF) and the Land Bank of the Philippines (LANDBANK), announced this week the launched the Overseas Filipino Bank (OFBank) as a digital-only bank that allows clients to complete bank transactions anytime

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Mastercard Supports Digital Bank Platform in APAC

Mastercard and EedenBull have extended their strategic partnership from Europe to the Asia Pacific region to support the fintech company’s launch of a new digital platform for banks and businesses to process spending and payments more efficiently. New regulations, new

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How TikTok’s Owners Are Evolving from Your Kid’s Social Media to Becoming Your Bank

TikTok’s owner ByteDance is making inroads into fintech as the Chinese tech company is said to be negotiating a tie-up with an investment group linked to Singapore’s Lee business family, according to a Financial Times (FT) report. The Lees are

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14 Out Of 21 Digital Bank Applicants Eligible for Next Stage of Assessment

The Monetary Authority of Singapore (MAS) announced today that 14 of the 21 digital bank applications have met the eligibility criteria required for the application to be considered. These eligible applicants, comprising five digital full bank (DFB) applicants and nine

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Philippines’ Digital-Only Bank Tonik Raises $21M Series A Led by Sequoia India and Point72

Tonik Financial Pte Ltd (“tonik”) announced today that it closed a $21M round of Series A equity funding. The round was led by blue-chip VC investors Sequoia India and Point72 Ventures, with a significant participation from previous VC investors Insignia

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Why Fraud Detection is Imperative to Asia’s Digital Banking Revolution

In recent years, we have witnessed accelerated growth in Asia’s digital banking sector. More fintechs and newly licensed virtual banks are coming to market to address the unbanked segment, while traditional banks are transforming to manage costs and achieve operational

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Mambu Chooses NetGuardians as Partner for Financial Fraud Mitigation

Swiss FinTech NetGuardians, best known for its AI risk platform that combats banking fraud, today announced a new partnership with banking platform Mambu. The new partnership focuses on digital payment fraud, meaning that NetGuardians’ fraud-mitigation software will be available to

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63% of APAC Customers Willing to Switch to Challenger Banks in 5 Years

63% of banking customers in Asia-Pacific (APAC) are likely to use digital banking services offered by neobanks and challenger banks by 2025, highlighting the urgency for banks to innovate, according to the Fintech and Digital Banking 2025 report by Backbase

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Riding the Cloud to the Bank of the Future

Shifts in consumer behaviour towards digital services are resulting in monumental changes for the banking industry. Highly anticipated digital banking licenses will be awarded in Singapore and Malaysia this year, while the first of the winners of Hong Kong’s new

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Digibanks are Coming to Singapore and It Promises to Shake up the Banking Industry

With Singapore set to deliver its first digital banking licenses later this year, the city-state is preparing for a new era in banking. In June 2019, the Monetary Authority of Singapore (MAS) announced that it would issue up to five

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