Tag: banking

Gaming

ULeague helps battle COVID-19 via Mobile Legends

More than just competing for gaming glory, the top esports teams in the ULeague Mobile Legends Charity Clash Tournament are helping in the fight against COVID-19.

More than just competing for gaming glory, the esports teams in the ULeague Mobile Legends Charity Clash Tournament are helping in the fight against COVID-19.

Scheduled on Sept. 16 and 17, the Championship Round of the charity tournament will be livestreamed on the ULeague Facebook page. Proceeds from the ULeague teams in the Charity Clash Tournament were given to COVID-19 initiatives of various nonprofits as a way for the esports and gaming community to help vulnerable communities cope with the pandemic.

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Technology

Cloud-first bank: Standard Chartered, Microsoft team up

Standard Chartered’s digital transformation into a cloud-first bank will enable it to offer new banking experiences.
Standard Chartered’s digital transformation into a cloud-first bank will enable it to offer new banking experiences.

Standard Chartered Bank and Microsoft have announced a three-year strategic partnership to accelerate the bank’s digital transformation through a cloud-first strategy. This will allow it to leverage Microsoft Azure in its bid to become a cloud-first bank.

This partnership marks a significant milestone for Standard Chartered in making its vision for virtual banking, next-generation payments, open banking, and banking-as-a-service a reality. Leveraging Microsoft Azure as a preferred cloud platform, the companies will also co-innovate in open banking and real-time payments to help the bank unlock new banking experiences for clients. 

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Technology

Hyperlocal to become part of new normal, says BPI

The COVID-19 pandemic has seen the emergence of a vibrant hyperlocal market, with residents preferring to buy and sell products within their immediate communities.

“The hyperlocal marketplace is expected to become part of the new normal due to its unique selling proposition. The proximity factor between the buyer and seller makes this model work and competitive even with other online options from larger companies. The ability to deliver products and services faster gives a tremendous opportunity to all participants in this ecosystem,” Bank of the Philippine Islands (BPI) Chief Digital Officer Noel Santiago told Digital Life Asia.

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Technology

Komo, EastWest’s all-digital bank, eyes ‘younger upstarts’

Isabelle Yap, Special Projects Officer and AVP at East West Banking Corporation, said they are launching Komo because while they believe brick and mortar will not go away anytime soon, digital is the future.
Isabelle Yap, Special Projects Officer and AVP at East West Banking Corporation, said they are launching Komo because while they believe brick and mortar will not go away anytime soon, digital is the future.

What’s in a name? In the case of Komo, the all-digital bank that East West Banking Corporation is launching this year, it’s a name that they hope will become synonymous with a good digital banking experience.

“We would like to have a distinctive name and let the name be defined by the value we give to customers. The idea is to associate Komo with a good digital banking experience. From the start, we knew that we wanted to make customers feel calm and assured by creating a product that was easy to use, secure, and reliable. Our goal was to simplify customers’ lives by giving them full control over their money. Translate that to Filipino and you might say kontrol mo ang pera mo (you control your money) — hence, Ko-mo,” Isabelle Yap, Special Projects Officer and AVP at EastWest, told Digital Life Asia.

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Gaming

ULeague Mobile Legends charity clash gears for Round 2

The ULeague is Union Bank of the Philippines’ inter-company esports league.

Will Round 1 champions SALARIUM emerge victorious again? Or will the ULeague crown a new winner in Round 2 of its Mobile Legends Charity Clash Tournament?

The ULeague is Union Bank of the Philippines’ (UnionBank) inter-company esports league. It is holding the ULeague Charity Clash Tournament, an online competition featuring the popular game Mobile Legends: Bang Bang. This charity clash is organized by UnionBank and its partners. These include the Distributed Ledger Technology Association of the Philippines, Fintech Philippines Association, UShare, and Tech Up Pilipinas Inc.

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Gaming

Mobile Legends team of Salarium wins in charity clash

Mobile Legends team of Salarium emerged victorious in the ULeague: Charity Clash Tournament.

The Mobile Legends team of Salarium emerged victorious in Round 1 of the ULeague: Charity Clash Tournament that Union Bank of the Philippines (UnionBank) and its partners launched. This was for the benefit of charities with COVID-19 relief programs, including Caritas Manila.

Their team, also called SALARIUM, defeated the Noob Killers of Dragonpay in the Round 1 finals held on June 11. The organizers will hold the succeeding rounds in the coming weeks.

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Technology

Neobank tonik raises $21M Series A ahead of PH launch

tonik the first digital-only neobank in Southeast Asia.

The first neobank in Southeast Asia, Tonik Financial Pte Ltd (tonik), has just added US$21M to its war chest as it gets ready for its Philippine launch in Q3 2020. Sequoia India and Point72 Ventures led the US$21M round of Series A equity funding. Previous investors Insignia and Credence also had a significant participation. The neobank will use this round of funding to launch its Philippine operations.

“If the environment remains as it is, we should be launching in September-October. This funding is to provide us with runway for the first couple of years after launch,” tonik Founder and CEO Greg Krasnov told Digital Life Asia.

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Technology

RCBC all-digital bank also inclusion super app, says EVP

RCBC EVP and Chief Innovation and Inclusion Officer Lito Villanueva says exciting times are ahead with the upcoming launch of the RCBC all-digital bank.
RCBC EVP and Chief Innovation and Inclusion Officer Lito Villanueva says exciting times are ahead with the upcoming launch of the RCBC all-digital bank.

As Yuchengco-owned Rizal Commercial Banking Corporation (RCBC) ramps up its digital transformation, it will launch an all-digital bank that will drive financial inclusion in the Philippines.

“RCBC will be launching an all-digital bank and it will be sooner rather than later. The company is not afraid to look towards the future and accept that legacy banking may be a thing of the past. A peek into what we have ahead: this new product will not only be an all-digital bank but also an inclusion super app — with an array of services that is more than what is offered in the market today. Exciting times are coming,” Lito Villanueva, EVP and Chief Innovation and Inclusion Officer of RCBC, told Digital Life Asia.

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Technology

Trust in blockchain: No corruption, says Huobi exec

Ciara Sun, Head of Global Business and Markets of Huobi Group, says trust in blockchain is based on a trustless system.
Ciara Sun, Head of Global Business and Markets of Huobi Group, says trust in blockchain is based on a trustless system.

Why is blockchain so revolutionary and potentially a powerful force for good? Unlike traditional banking, blockchain technology is a trustless system. For example, banks need to ask us to trust them. When we deposit in banks, we trust that the bank will keep our money safe and not use it for unknown transactions. In contrast, trust in blockchain is part of the technology itself.

“Another important pillar that makes blockchain such a trustworthy technology is its transparency. Not only does the technology not ask for our trust, it allows for full disclosure, allowing everyone to know what is happening on the blockchain. There is no hiding on the blockchain, no corruption, and no sneaky tactics. And there is no way that things can slide by and go undetected,” said Ciara Sun, Head of Global Business and Markets of Huobi Group.

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Technology

First digital-only bank in SEA bullish on PH launch

TONIK Founder and CEO Greg Krasnov believes the Philippines is ready to embrace a digital-only bank.
TONIK Founder and CEO Greg Krasnov believes the Philippines is ready to embrace a digital-only bank.

The COVID-19 pandemic may have pushed its Philippine launch to September this year, but Southeast Asia’s first digital-only bank TONIK is confident even more Filipinos will embrace its digital banking services. What makes the Philippines an ideal market for a digital-only bank? Particularly one that describes itself as an “anti-bank”?

“A very young and digital native population, that’s screaming for good digital solutions. The average age of a Filipino is 24. The average time spent on Facebook is four hours per day–number one in the world. Banks are not offering anything close to the level of expectation that most consumers have of their digital banking. Also there is a very high unbanked population, around 70 percent in the Philippines. These customers are so intimidated of banks they never want to have to go into a bank branch in their lives. They are waiting for a good digital bank to show up, which will drive their financial inclusion,” TONIK Founder and CEO Greg Krasnov told Digital Life Asia.

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Technology

Online banking embraced by more Filipinos, says ING

Hans Sicat, country manager of ING Bank in the Philippines, stresses the need to make online banking accessible 24/7 to customers.
Hans Sicat, country manager of ING Bank in the Philippines, stresses the need to make online banking accessible 24/7 to customers.

Need more convincing that it is better to bank from home? The COVID-19 pandemic is proving to be a very compelling reason. Filipinos are now shifting to online banking due to the enhanced community quarantine (ECQ) that forces them to stay home.

As an all-digital bank, ING Bank is committed to making its services available 24/7. It has also announced it will keep its savings interest rate at 4% per annum until July 31. This will assure ING customers that their money will continue to grow, as sustained savings or for emergency needs.

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A Life Less Analog, Technology

Phygital banking is the way to go, says BPI

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While other banks are talking about digital banking, Bank of the Philippine Islands (BPI) has said it is already looking ahead and pursuing a phygital banking strategy.

As one of the country’s top banks, BPI has aggressively pushed digitalization. However, it also recognizes that customers require different channels based on their preferences and types of transactions.

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