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South African digital bank Tyme has raised $110 million in private capital and linked up with JG Summit, one of the biggest conglomerates in the Philippines, to apply for a local digital bank licence, a top Tyme executive told Reuters.

Tyme, majority-owned by South African billionaire Patrice Motsepe, will use most of the money, mainly from…

RIZAL Commercial Banking Corp. (RCBC) is now among the top 50 banks across the world based on the latest report by the Morgan Stanley Capital International (MSCI).

The Yuchengco-led bank said in a recent statement that it was given a “leader” ranking by Morgan Stanley, which is equivalent to “AA,” in its recent Environmental, Social and…

THE INSURANCE Commission (IC) has ordered health maintenance organizations (HMO) and pre-need companies to be more transparent with their products and terms when they offer these online.

Insurance Commissioner Dennis B. Funa issued several circulars laying out guidelines that HMOs and pre-need firms need to follow as they use digital platforms in selling their products and…

Tyme, a multi-country digital banking group headquartered in Singapore, announced its US$110 million Series B capital raise, bringing foreign investment into South Africa for TymeBank and laying the foundation for Tyme’s expansion across ASEAN starting with the Philippines.

The new investors in Tyme are Apis Growth Fund II, a private equity fund managed by Apis Partners, and the…

Online lending platform Cashalo announced that it had discovered a potential data breach but reassured its users that no customer accounts or passwords were compromised.

The company said that on 18 February 2021, its cybersecurity team discovered a potential data security incident involving a Cashalo-only database archive where an individual claimed to be in possession of…

THE local banking system’s financial performance is not expected to “return back to normal” in the next two years, as bad loans are expected to start rising in the first quarter of 2021, an international credit watcher said.

In a recent assessment on the Philippine banking sector, S&P Global Ratings said they expect non-performing loans to…

Issuance of Sales Promotion Permit is in compliance with Article 116 of Republic Act (RA) 7394 otherwise known as The Consumer Act of the Philippines, which requires that companies conducting sales promotion campaigns including beauty contest national in character, shall secure first a Sales Promotion Permit prior to the launching of such campaign. 

Adapting to the…