fintech

The payments business of banks are now “increasingly being eaten away” by smaller and more nimble players in the financial technology (fintech) space, representatives from financial software company Finastra shared in an interview with Newsbytes.PH.

The ASEAN Access to Digital Finance Study measures the impact of digital financial services for consumers and MSMEs in Indonesia, Malaysia, the Philippines, Singapore, and Thailand.

PH fintech startup Plentina is celebrating its second anniversary this October and reported that the number of users of its app has reached 286,000 users.

Finance app BillEase just got a $20M debt facility from Singapore-based fintech firm Helicap Securities, for a total $55 million in debt and equity.

To power its soon-to-launch fintech marketplace for Filipinos, cryptocurrency Frenetic has selected BLOX as its blockchain backbone.

Voyager Innovations, the technology company behind e-wallet platform PayMaya and soon-to-be-launched digital bank Maya Bank, said it raised $210 million in new funds, propelling its valuation to unicorn status at nearly $1.4 billion.

Said to be the first of its kind in the Philippines, the payment service allows users to transfer money to any bank or e-wallet without the need for the recipient’s account details – only an email.

Jovelyn Hao, Bangko Sentral ng Pilipinas (BSP)’s FinTech Innovation and Policy Research Group acting head, said the central bank is open to leveraging the gains brought about by fintech innovations amid the pandemic.

Aside from venture capital, Plentina co-founder and CEO Kevin Gabayan said government grants that do not add red tape would also contribute to a startup’s progress.

Fintech startup Plentina recently appointed Alex Aronson, a veteran of the e-commerce and retail technology industry, to be its next general manager for the Philippines.