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The moratorium will last for three years.
No new applications for digital banking licenses will be accepted after August 31, 2021, the Monetary Board of the Bangko Sentral ng Pilipinas announced on Thursday (August 19). The moratorium will take effect over the next three years so the BSP can ...
 
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Welcome the country’s newest neobank.
The Bangko Sentral ng Pilipinas has granted a digital banking license to GOTyme, a partnership between the Gokongwei group and Singapore-based digital banking group Tyme. It is so far the fifth neobank or digital-only bank that the BSP has approved after the ...
 
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But more companies want in on the action.
The Bangko Sentral ng Pilipinas has granted Union Bank of the Philippines’ application to establish a digital bank in the country. Union Digital Bank or UnionDigital, which is a wholly owned subsidiary of UnionBank, is the fourth digital-only bank to be granted ...
 
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Next target: a neobank.
Voyager Innovations Inc., the digital unit of PLDT, has raised $167 million (about P8.11 billion) in fresh capital for its financial inclusion agenda through its fintech arm, Paymaya. Existing investors that participated in the capital raise are pareant company PLDT Inc., global investment ...
 
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It’s a milestone for the Philippine operations of a Singapore-based neobank.
The Bangko Sentral ng Pilipinas (BSP) has received numerous applications for a digital bank license, but for the first time, it has granted one to a purely digital bank in the country. Tonik, a 100 percent digital-only bank whose holding company is based ...
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