Digital bank Tonik raises $131m, eyes international expansion
Tonik’s Series B equity funding round was led by Japanese banking heavyweight Mizuho Bank.
Philippines
Philippines’ UnionBank picks Metaco’s Harmonize to manage digital asset operations
Metaco provides security-critical software and infrastructure for the digital asset ecosystem.
Russian digital bank Tinkoff taps Finastra for Asian expansion
Finastra’s Fusion Essence Cloud solution will power the bank’s planned subsidiary in the Philippines.
South African challenger bank Tyme completes $180m Series B with Tencent investment
The investment from Tencent and UK development finance institution CDC brought in an additional $70 million.
Singapore fintech Sleek raises $14m to fund global expansion
The company’s platform acts an ‘operating system’ for entrepreneurs and small businesses.
Filipino fintech Mynt secures $300m fundraise at $2bn valuation
Mynt’s most notable subsidiary, GCash, is the archipelago nation’s most popular e-wallet.
Filipino BaaS player Netbank picks Chekk for KYC services
Netbank to integrate Chekk platforms into its white-label offerings for customers and businesses.
Ascend Money becomes Thailand’s first fintech unicorn with $150m fundraise
Thai fintech plans to boost financial inclusion efforts in Southeast Asia.
Payments infrastructure firm Xendit secures $150m funding round
Company plans to expand beyond its Indonesian and Philippines strongholds.
DWG expands into Singapore with remittance app acquisition
Fintech says Singapore will act as a springboard for expansion into North America and Europe.
Russian digital bank Tinkoff plans Philippine expansion
Reports suggest the move is part of a wider strategy to enter the Asian market.
Philippines to close digital bank licence applications as GOtyme gets the nod
Central bank says the window for digital banking licence applications will close on 31 August.
Voyager Innovations raises $167m to power digital banking push
Tech firm aims to provide banking to 38 million customers.
BaaS-based Netbank goes live in the Philippines
Netbank plans to offer a “full range” of banking services to migrating firms.
Philippines grants digital banking licence to Unobank holding company
Unobank aims to bridge the financial inclusion gap in its home country.
UnionBank plans total cloud migration with Amazon Web Services
It aims to be the first entirely cloud-hosted bank in the Philippines.
Pine Labs raises $285m in venture funding to reach $3bn valuation
Merchant payments platform Pine Labs plans regional expansion.
PBCOM goes live on cloud-based Temenos core banking system
Philippine bank first signed for Temenps back in 2012.
Dutch VC Finch Capital snaps up Wirecard’s APAC assets
The purchases were made through Nomu Pay.
Philippines-based neobank Uno boosts AI services with Xebia deal
The prospective bank is pushing its AI capabilities as a unique selling point.
Tyme lands $110m in Series B funding, plans Asia-Pacific expansion
TymeBank looks to expand beyond its South African headquarters.
Philippines neobank Tonik signs credit assessment deal with FinScore
The challenger wants to extend loan applications to more underbanked Filipinos.
Philippines’ mobile wallet GCash closes on $1bn valuation with new funding
Mynt-operated firm raises $175m from US investor.
Fintech funding deals globally 4-10 January 2021
Featuring Grab, Mynt, Divvy, Mambu, and SimpleNexus.
Prospective Philippines digital bank Uno picks Mambu
Uno’s parent DigiBankAsia is working with Philippine regulators to obtain a licence.
Philippines central bank to publish digital bank framework this month
A basic digital bank will require a minimum capitalisation of $8.2 million.
Wirecard business partner reported dead in Philippines
Bauer’s company made up €291.4m of Wirecard’s 2018 profits.
GoBear and UnionBank launch new lending service in the Philippines
Partnership claims to be first of its kind in the country.
UAE’s remittance fintech Denarii Cash expands beyond Middle East
The new corridors span the Middle East, and into South East Asia and Africa.
The Philippines launches government-owned OFBank for overseas citizens
Filipinos will be able to sign up to the new service with a selfie.
UnionBank to tap rural Philippines with 11,000 remittance counters
70% of Filipino adults are still unbanked.
Philippines challenger Tonik raises $21m ahead of 2020 launch
The bank has raised $27m since being founded in 2018.
Bank of the Philippine Islands deploys Avaloq Banking Suite as SaaS
The new client is Avaloq’s first in the Philippines.
Singapore’s GoBear snaps up fintech AsiaKredit
GoBear’s bank partners will be able to tap underserved consumers.
Visa invests in open banking platform Railsbank
The regtech firm gained extra capital from Japanese VC Global Brain.
Wirecard and Singapore’s Grab partner on payments
The partnership will begin in Malaysia, the Philippines and Singapore.
How Ripple and Azimo are using XRP for remittances in the Philippines
Azimo and Ripple speak to FinTech Futures about their new partnership.
Tonik digital bank raises $6m as it gears up for launch
It’s set to be the first of its kind in the country.
Wells Fargo cuts 700 jobs, overhauls exec suite and invests $5m in crypto start-up
The bank is splitting its three-part structure into five.
CIMB Bank Philippines deploys Jumio authentication tech
Its mobile app will integrate “AI-driven” Jumio identity verification technology for its KYC.
