PhiBanc: Digital Bank


The digital transformation of services such as transportation (Uber) and food delivery (DoorDash) has brought about a different standard of service for other essential products, in particular banking. Users no longer want want to drive to a bank, wait in line for hours and fill out forms to make a deposit or transfer money when they are accustomed to ordering everythign from the palm of the hand.


The founders at PhiBanc recognized this trend in personal finance and wanted to simplify the banking experience to it's core essentials, all from the tip of your fingers. Their goal was to allow users in South America to open a 100% digital bank account from their mobile app, use a smart debit card connected to the app to make purchases, and send instant cash a la Venmo.


We at CodeForma sat down to brainstorm and analyze the current trend in digital banks throughout the world. We looked a the state of digital banks created by companies such as NuBank in Brazil, N26 in Germany and Chime in the U.S. Using these digital platforms as inspiration, we desigeed a mobile app that focuses on instant transactions between users. This was complimented by an NFC debit card.



Using the digital first approach to banking created by CodeForma, PhiBanc has been able to introduce new users to digital banking as well as expand its presence in the South American banking sector. Currently, the team has been hard at wrok integrating with banking partners and onboarding new users to its mobile bank.

Recently, CodeForma has been working with PhiBanc to integrate a blockchain system, QR Payments and digital authentication systems.