#Voyager

Voyager Innovations, through its financial technology arm PayMaya Philippines, has announced that it has obtained the approval of the Monetary Board of the Bangko Sentral ng Pilipinas to establish a digital bank. The previous story shared that Voyager raised USD 167 million for PayMaya’s expansion into digital banking in order to fast-track financial inclusion in the Philippines. Both PayMaya and the soon-to-be-established Maya Bank will lead Voyager's digital financial service thrust, support BSP's goals of digitizing 50% of the total volume of retail payments and expand the financially included to 70% of Filipino adults by 2023. Voyager shares that PayMaya will provide mobile-first digital banking services on the back of PayMaya's e-wallet and proven technology platforms. Voyager Innovations has announced that it raised USD 167 million for PayMaya's expansion into digital banking to fast-track financial inclusion in the Philippines. Voyager also welcomed IFC Financial Institutions Growth Fund, a fund managed by the IFC Asset Management Company, as a new investor. The IFC AMC is a division of the International Finance Corporation, a member of the World Bank Group, and an existing investor in Voyager. As PayMaya has successfully grown its mobile wallet, payments processing, and digital remittance businesses, Voyager is now leveraging this unique ecosystem to expand into digital banking. Read more in our articles including "PayMaya secures digital bank license from BSP" and "PayMaya expands into digital bank, to offer financial services".