EastWest launches first local digital bank Komo

East West Banking Corporation (EastWest) introduces its first local digital bank, Komo.

Earlier this month, Komo received approval from Bangko Sentral ng Pilipinas (BSP) to launch its digital bank services to the public. Operating under EastWest Rural Bank, Komo offers an annual interest rate of 3% for its Digital Savings Account with no minimum balance. Its website also teased that it will offer free fund transfers and a customized debit card.

EastWest also ensures customers that the all-digital bank will provide seamless, secure, and reliable services.

Tony Moncupa, EastWest CEO, said: “Komo combines the best of two worlds: the convenience of modern digital banking backed by the security of a strong brick-and-mortar bank like EastWest.”

Komo’s mobile app is scheduled to launch around the third quarter of 2020.

To keep updated with Komo, you may visit its official website.