OwnBank, the newest mobile banking player in the country, is seeking to make an immediate impact in the industry by offering the highest savings interest rate yet of 8% per annum.
UNO Digital Bank is one of the six licensed digital banks by Bangko Sentral ng Pilipinas (BSP) and the first fintech firms in the region to get an outright digital banking license.
The Bank of the Philippine Islands (BPI) is accelerating the digitalization of BanKo, its microfinance arm, in an attempt to offer digital banking to more Filipinos while expanding its “lite” branches across the country.
Landbank said it facilitated a total of 39.14 million transactions amounting to P567.61 billion from its major digital banking channels in the first three months of 2022 — translating to a 36% and 22% year-on-year growth in volume of transactions and value, respectively.
Two Singapore-headquartered fintech companies – UNObank and Tonik – have received approval from the Bangko Sentral ng Pilipinas (BSP) to operate digital banks in the country.
Tonik said it aims to disrupt the Filipino retail banking industry by bring to the market a revolutionary and completely branchless way of banking on a secure mobile platform.
With the move, JG Summit, through its corporate venture capital vehicle JG Digital Equity Ventures, is boosting its foray into the fintech industry as part of its goal of becoming one of the biggest digital conglomerates in the country and in Asean.
