UnionDigital Bank is a fully digital bank launched in 2021 as a joint venture between Union Bank of the Philippines, one of the country's largest banks, and major tech companies like Tencent and Explore. It aims to leverage Union Bank's established financial expertise with the technological pro...
As regulators encourage new players to enter the digital banking sector in the Philippines, banks that take the initiative can gain an early advantage.
Research expert covering the Philippines Get in touch with us now , Oct 16, 2024 As of June 2024, Maya Bank had the highest asset value among digital banks in the Philippines. Maya Bank registered a total asset value of about 38.11 billion as of this period. GoTyme follows, with assets ...
The decision not to pursue a digital banking license comes as the BSP plans to lift its moratorium on the issuance of new licenses beginning January 1, 2025. Currently, six digital banks operate in the Philippines: Maya Bank, Overseas Filipino Bank Inc., Tonik Digital Bank Inc., UNObank Inc...
NextPay is the best alternative to bank accounts for small businesses and entrepreneurs in the Philippines. We help them similarly to how Brex helps companies in the US, but in a way that is more locally nuanced. We manage their finances and remove the steep barriers that Filipino banks and...
The Philippines will grant licences for up to four new digital banks from the beginning of 2025, following the successful launch of six banks
The Vault platform has been written from scratch as an entirely cloud-native system and gives banks full control to build any product required to flourish in a rapidly changing world. Thought Machine is currently a team of more than 500 people spread across offices in London, New York, Singapo...
people in the Philippines have no access to financial services. Many of them need could use a bank loan and would be able to repay it. It’s just that they have no bank accounts and that many --if not most-- banks aren’t geared to meet the needs of customers who require micro...
Southeast Asia has seen a rise in digital banking, partly induced by Covid-19 restrictions that have forced business operations to go online. (Read: Why Indonesia’s tech giants find digital banks irresistible) The Philippines has an unbanked population of 63% as of 2020, according to Euromoni...
Gavin Allen:You've obviously really adapted to these changes and embraced them, and as a result, you’re giving a better service. Are you surprised that not all banks have been quite so agile? Paul Siy:One of the things that I've always sort of prophesied was a change in culture.Frank...