The Philippines set for first digital-only bank as Tonik gets green light
Tonik Financial will set up the island nation’s first online bank.
Philippines
Covered Bond Bank migrates international branches to Avaloq Banking Suite
New York, Singapore, and Shanghai all switch to Avaloq system.
Latvia’s Robocash set to raise $5m for P2P investments in Southeast Asia
European investors can now back 12-month commercial loans in Singapore.
Railsbank raises $10m to expand into Southeast Asia and beyond
The open banking platform has opened an office in Singapore.
WeChat Pay and Alipay partner QFPay raises $20m
The latest funding round brings QFPay’s total to $36.5 million.
BHF Rural Bank pilots programme with PearlPay
BHF becomes first ever Filipino rural bank to use core banking solutions.
UnionBank pilots blockchain-based cross-border remittance
It’s the first Philippine bank to successfully remit to Singapore.
Philippines Union Bank chooses Refinitiv for electronic trading
Digital FX for the growing economy.
UBX and Temenos to deliver inclusive digital banking to Philippines
The aim is to reach millions of people over the next five years.
Barclays and Ripple back SendFriend’s $1.7m funding
Philippine paytech finds lots of friends as it readies for US launch.
Philippines brings in new rules on crypto assets
Another regulator gets tough on this rather special sector.
IBM bags $260m banking tech deal in Philippines
Bank of the Philippine Islands speeds up its digital revamp plans.
UnionBank in Philippines sets up first digital branch with Appian tech
Offers internet-connected self-service kiosks and virtual reality boxes.
Philippines’ Voyager Innovations reaches $215m funding
Latest $40m injection follows juicy $175m investment last month.
Southeast Asian consumer finance firm Akulaku gets $70m funding
Round includes support from Sequoia India and BlueSky Venture Capital.
Philippine lending platform First Circle raises $26m
Aims to expand to other countries in the region next year.
KKR and Tencent lead $175m investment in Philippines’ Voyager Innovations
“Largest investment to date in a Philippine tech company.”
Philippine Veterans Bank picks Fiserv front office for digital revamp
The bank is a long-standing user of Finastra’s tech in the back office.
Visa and MoneyGram team up for cross-border payments
Will use Visa Direct, its real-time push payments platform.
Micro-lending case study: Mynt
Philippines’ largest telco moves into micro-lending space.
eCurrency Mint and Rizal to launch digital cash in Philippines
Plan to make it available by Q2 this year.
PR Savings Bank in core banking tech revamp with Temenos T24
Philippine Resources Savings Banking Corporation is implementing Temenos’ T24 core banking and analytics solutions.
AsiaKredit launches consumer lending mobile app, pera247
AsiaKredit, a Southeast Asia digital consumer lender, has unveiled pera247 in the Philippines – its data-driven consumer lending platform mobile app.
Philippines’ UnionBank picks IBM Cloud for app overhaul
UnionBank of the Philippines (UnionBank) has selected IBM Cloud to build, deploy, run and manage new apps for its digital customer base. Through the IBM Bluemix cloud platform and IBM API Connect, UnionBank says it can create, manage, secure and run APIs that the bank has made available internally and run them externally for consumption. […]
UnionBank launches New EON, the first “selfie” banking in the Philippines
UnionBank of the Philippines (UnionBank) has launched the New EON, a new digital banking platform (a revamped version of the original EON, launched at the start of the millennium). The mobile biometric authentication tech is provided by Daon.
BDO Unibank outsources IT services to Fiserv
Philippines-based BDO Unibank has signed a contract with its long-standing tech provider Fiserv for managed services support of the bank’s IT initiatives.
Philippines Land Bank goes live on Miles Software’s MoneyWare Custody
Land Bank of the Philippines (LBP) has gone live with Miles Software’s MoneyWare Custody solution. The government-owned bank was recently accredited by the Bangko Sentral ng Pilipinas (central bank) to offer third party security custody and registry services. The new deal is part of its growth plans. Josephine Cervero, senior vice-president and trust officer, LBP, […]
Fexco and Encash partner for Philippines “first-ever” mobile cash withdrawal
Ireland-based Fexco has teamed with Electronic Network Cash Tellers (Encash) to launch the “first-ever” mobile cash withdrawal solution in the Philippines. Through Encash’s customer network, Fexco says its EasyDebit solution will be able to serve 75 million BancNet cardholders, allowing them “easier access” to cash across the Philippines. Fexco says the Philippines is a cash-centric […]
Rizal Commercial Banking Corp fined $21m over cybersecurity failings
The Bangko Sentral ng Pilipinas (BSP), Philippines’ central bank, has issued a PHP 1 billion ($21 million) fine to Rizal Commercial Banking Corp (RCBC) for cybersecurity failings. RCBC was used by cyber criminals to channel $81 million stolen from Bangladesh’s central bank earlier this year. According to BSP, the fine was “the largest amount it has […]
Union Bank of Philippines picks D+H for cash management services
Union Bank of the Philippines has chosen US-based D+H Corporation’s suite of cash management solutions. The bank¸ which provides products and services to more than 7,000 corporate clients, has embarked on a “major transformation” of its cash management services business and wanted to simplify its IT environment. John Ong, head of transaction banking, Union Bank […]
Philippines credit union groups sign for Temenos’ software
Two Philippines-based credit union networks, National Confederation of Cooperatives (NATCCO) and Philippine Federation of Credit Cooperatives (PFCCO) will build a common banking and payments platform based on Temenos’ software. The new platform will underpin the service known as the ACCU Payment Platform (APP). ACCU stands for “Asian Confederation of Credit Unions” – both NATCCO and […]
Standard Chartered launches Philippine mobile wallet
Standard Chartered has launched a mobile wallet in the Philippines through a partnership with Globe Telecom, in a deal that will tap into demand for mobile money in one of the world’s strongest remittances markets.
Philippine bond market adopts Nasdaq OMX surveillance
The Philippine Dealing and Exchange has chosen a system to monitor its fixed income markets and make sure that any market abuse is swiftly discovered and dealt with.
