Philippines’ mobile wallet GCash closes on $1bn valuation with new funding
Mynt-operated firm raises $175m from US investor.
Philippines
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.
Tonik digital bank selects Finastra Fusion Essence
The Philippines’ first digital bank selects its new core.
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.
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.
