Bangko Sentral to Reopen Digital Bank Applications If Needed
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno announced the possibility to reopen the window for digital bank license applications if additional neobanks are needed.
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno announced the possibility to reopen the window for digital bank license applications if additional neobanks are needed.
PLDT enters the digital bank race as it secures a license from the BSP.
BSP announced that it will no longer be receiving applications for new digital banks including banks wanting to convert their status from 1st September 2021.
UnionBank is the first publicly-listed Philippine bank to be granted a digital banking license by the BSP.
Unionbank will create a new subsidiary which will be called Union Digital Bank (UnionDigital) according to a recent filing.
Voyager Innovations, the parent company of PayMaya secured $167 million investment which will be used to expand to digital banking & other financial services.