Mitsubishi acquires 50% of Ayala’s stake in Mynt for $320m
Mitsubishi is set to snap up half of Ayala’s 13% share in Mynt.
Philippines
The latest fintech news, resources and expert analysis in the Philippines by the leading intelligence provider for the worldwide fintech community.
Philippines-based fintech Mynt sees valuation top $5bn with MUFG and Ayala funding
Both MUFG and Ayala Corporation have invested $393 million each in the company.
BIS readies for live implementation of Project Nexus in Asia
Institutions from India, Malaysia, the Philippines, Singapore, and Thailand will implement the project.
South Africa’s TymeBank plots $150m Series D round ahead of 2028 IPO
TymeBank expects to complete the round in Q4, with hopes of achieving unicorn status.
CTBC Bank Philippines partners Hitachi Asia for digital banking revamp
The bank has worked with Hitachi Asia to redesign its web interface and mobile banking applications.
Digital challenger GoTyme Bank acquires salary lender fintech SAVii
GoTyme Bank’s acquisition claims to serve over 500,000 employees across 150 Philippine enterprises.
Inclusive instant payment system Higala launches in the Philippines
The new system is powered by the open-source payment platform Mojaloop.
Empower Finance strikes deal to buy Petal with Cashalo acquisition completed
The deal for Petal is expected to close later this quarter for an undisclosed sum.
Country Builders Bank in the Philippines selects Kiya.ai for banking tech upgrade
CBB hopes the partnership will help boost its operational efficiency and growth.
Metrobank in the Philippines taps Temenos for its wealth management tech
The Temenos Wealth solution will be implemented by the vendor’s regional partner CBTW.
Security Bank selects Avaloq to digitise wealth management business
The bank will leverage the Avaloq Core platform and its Relationship Manager Workplace solution.
UNO Digital Bank’s parent company secures $32.1m funding to fuel growth
UNOAsia will use the funding to strike profitability for UNO Digital Bank in the Philippines.
The Philippines’ UnionBank taps Informatica for MDM solution
Informatica says the solution provides an “enterprise-wide, 360-degree view of customers”.
Southeast Asian fintech Salmon acquires controlling stake in Filipino bank
Once the deal is completed, Salmon will own 59.7% of the Rural Bank of Sta. Rosa (Laguna).
Southeast Asia’s BigPay taps Thredd to power payment processing
As BigPay expands in Southeast Asia, the firm says it needed a partner with “deep understanding of the region”.
GoTyme Bank taps Nice Actimize to fight financial crime
The bank aims to leverage Nice Actimize’s AI and analytics solutions in order to prevent financial crime and fraud.
Cebuana Lhuillier Bank taps Temenos for core banking platform
Temenos has tasked its delivery partner, Orion Innovation, with implementing the new core.
The Philippines’ UnionBank taps NCR to manage its ATMs
The Philippines’ ninth largest bank currently operates over 400 ATMs across the country.
Filipino fintech start-up Salmon lands $20m debt funding
Salmon says the investment marks the “largest ever” debt financing for a Series A tech company in the Philippines.
Philippines signs MoU with India to strengthen fintech cooperation
The MoU will help establish a joint working group on fintech between the two countries.
Digital banking group Tyme lands $77.8m in pre-Series C funding
Existing investor Tencent also increased its stake to become Tyme’s third-largest stakeholder.
Philippines’ Security Bank taps ACI Worldwide to modernise payments
ACI’s enterprise payments platform will modernise the bank’s payments infrastructure.
Tyme Group opts for Mambu’s core banking tech for Philippines’ GoTyme Bank and future banks across Asia
Mambu’s platform enabled a “lift and shift” of Tyme Group’s digital bank concept from South Africa to the Philippines.
New consumer lending fintech Salmon launches in the Philippines
Salmon claims to have over 2,000 customers and over 30 merchant partners for its lending product.
Challenger bank Tonik acquires paytech firm TendoPay
Through the acquisition, Tonik aims to augment its lending portfolio.
GoTyme Bank selects Daon for digital identity verification
The digital bank will utilise Daon’s IdentityX platform for ID authentication.
UnionDigital Bank taps Thought Machine and Callsign to power its mobile app
UnionDigital Bank will deploy Thought Machine’s Vault Core solution and Callsign’s digital ID platform.
RBank picks BPC for paytech revamp and financial inclusion drive
Philippines-based Robinsons Bank (RBank) will implement BPC’s SmartVista payments platform.
UnionBank selects Avaloq to power wealth management platform
The Filipino firm will implement the Avaloq Core Platform.
Fintech start-up Pomelo raises $70m in seed financing
Pomelo’s investors include celebrities The Chainsmokers and The Weeknd.
Singapore’s UNOAsia raises funds ahead of digital bank full launch
The firm is gearing up for the commercial launch of UNO Digital Bank in the Philippines.
ING to wind-up retail banking operations in the Philippines by end of year
The firm will leave the retail banking market in the country before the end of 2022.
Philippines’ Atram taps additiv for digital wealth management tech
Atram’s new digital wealth management platform will utilise additiv’s orchestration engine, DFS.
UNO Digital Bank taps Businessnext to boost customer experience
Businessnext’s automated AI solutions will support the bank’s customer-facing managers.
Payments infrastructure firm Xendit lands $300m Series D round
This latest round brings Xendit’s total funding raised to date to $538 million.
Filipino fintech Voyager Innovations hits unicorn status with $210m raise
The new funding has propelled Voyager’s valuation to nearly $1.4 billion.
Philippines’ PayMongo raises $31m Series B to support nation’s SMEs
The Manila-based start-up has now raised around $46 million in total capital.
Thailand’s Siam Commercial Bank invests $100m in digital finance platform Akulaku
Akulaku CEO William Li says the companies share a vision for banking that is “expansive and inclusive”.
Tinkoff Bank launches Russia’s first fully digital mortgage; plans Philippines expansion
“The refinancing and lending process will be extremely simple and 100% digital,” Tinkoff states.
Digital bank Tonik raises $131m, eyes international expansion
Tonik’s Series B equity funding round was led by Japanese banking heavyweight Mizuho Bank.
