digital banking

State-run Land Bank of the Philippines said it is waiving InstaPay and PesoNet transfer fees for retail clients starting July 7, allowing customers to send money for free through the Landbank Mobile Banking App and iAccess.

The Bank of the Philippine Islands (BPI) will permanently waive fees for interbank fund transfers made through its digital banking platforms beginning July 1, becoming one of the first major banks to align with the Bangko Sentral ng Pilipinas' (BSP) latest push to make electronic payments more affordable.

Maya said its AI-driven model provides real-time, personalized credit assessments, revolutionizing how Filipinos access loans and financial services. 

Accountholders can also perform e-commerce transactions and receive remittance via Visa Direct through Visa partners abroad.

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.

GoTyme Bank recently reached its one-millionth customer mark only 10 months after launching in the Philippines.

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.