It ain’t broke, so GoTyme Bank won’t fix it

More: Binance US hires a former SEC member to head its operations, and online beauty retailer Evo Commerce sees its revenue soar 25x. [Read from your browser]( Daily Newsletter --------------------------------------------------------------- Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - [GoTyme Bank’s efforts to tap into the underbanked population in the Philippines]( - AC Ventures’ investment in an Indonesia-based food traceability platform - Other newsy highlights such as Binance US hiring a former SEC member to run its operations and online beauty retailer Evo Commerce recording soaring revenue --------------------------------------------------------------- Hello {NAME} If it ain’t broke, don’t fix it. It’s an adage more of us should try to follow but I think most people are guilty of overthinking. I know I am. Follicly challenged Manchester City coach Pep Guardiola is perhaps the best example of why we shouldn’t try to fix things that are working. How many huge matches has his team lost because of his compulsive desire to tinker with a winning formula? Earlier this year, he finally brought the Champions League glory the British team had been so desperate for. How did he do it? By ignoring his instinct to fix something that wasn’t broken, and using the same players in the final that had brought him success all year. In contrast, GoTyme Bank isn’t trying to fix something that ain’t broken in its quest for digital banking glory in the Philippines. Rather, it’s using a tried-and-tested approach that worked for one of the joint venture’s parent companies. -- Peter  ---------------------------------------------------------------  THE BIG STORY [How Gokongwei and Tyme are gunning for Philippines’ digibank crown]( GoTyme has over a million customers in the Philippines and an expansion into Vietnam might be on the cards. --------------------------------------------------------------- TRENDING NEWS [East Ventures leads $3m round of Indonesian raw materials platform]( Currently operational in the Greater Jakarta and Surabaya areas, Bababos aims to expand its reach to 1,000 SME manufacturers by the end of 2023. [Evo Commerce secures $2.8m, logs 25x revenue growth in 18 months]( The direct-to-consumer firm will use the fresh funds for product and market expansion. [AC Ventures leads new round of agritech firm Koltiva]( The Indonesian firm helps multinational companies trace their food supply from small producers across markets. [Ex-SEC member Norman Reed to lead Binance US]( According to Changpeng Zhao, Reed is the “right person to lead Binance US” in crypto’s “increasingly hostile regulatory environment.” ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Agents of change: how Mindverse is democratizing genAI]( With its MindOS platform, the Singapore-based firm wants to help businesses use generative AI effectively. --------------------------------------------------------------- TECH IN ASIA'S FOUNDERS MEETUP: PHILIPPINES Founders’ real talk: a candid conversation about the Philippines’ startup ecosystem Want to find out what it’s really like to build and scale a startup in the Philippines? We’re excited to have Terence Lee, Tech in Asia’s editor-in-chief, moderate our first-ever panel of the Founders Meetup series, featuring Brian Cu (CEO and co-founder, SariSuki) and Rexy Josh Dorado (president and co-founder, Kumu). On September 27, join us at the Weremote Makati Central Square in the heart of Manila to gleam practical insights and connect with fellow founders from the Tech in Asia community. Why navigate the startup journey alone when you can collaborate with others and break through barriers together? Tickets are now on sale at US$12.50 each, inclusive of complimentary light bites and drinks. Hurry, seats are limited. [Secure yours before it’s snatched up!]( Special thanks to our official event partners - AWS, CleverTap, Cooley, Oracle, Sinarmas Land, Singapore Global Network (SGN), Quest Ventures, and Purple Quarter - and our community partners - WeWork, Gobi Partners, and AHG Lab - as well as our venue host Weremote for making this meetup possible. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [AD] [StartmeupHK Festival]( on November 8 to 17 Many brands like to use “all-in-one” to emphasize their range of offerings . This can be applied to events too - at this year’s StartmeupHK Festival, attendees will get to explore a huge range of topics all in one place such as Web3, healthtech, proptech, greentech, GameFi, and more. Want to find out what else you can expect from this all-in-one event? Visit the StartmeupHK Festival website [here]( to learn more. - [Startup Arena Pitch Battle]( at the Tech in Asia Conference (Apply by September 25) Startup founders, stand a chance to win a US$10,000 cash prize and more! Each finalist will get to pitch live to a panel of investors on the conference’s Main Stage and get a complimentary Startup Factory booth to showcase their startup. Finalists not based in Indonesia will also receive up to a US$1000 travel stipend. Apply [here](.  - [Tech in Asia Conference]( from October 18 to October 19 Do you see the light at the end of this funding winter’s tunnel? We do, and we believe Southeast Asia is that very light. That’s why this year’s Tech in Asia conference’s theme is Southeast Asia: A Bright Spot in the Tech World - signaling how the region can provide hope and guidance for the tech sector amid some troubling times. Hosted in Jakarta from October 18 to October 19, we’re excited to bring you a great lineup of speakers, thought-provoking sessions, and other activities. Click [here]( to get your limited first-release tickets - [Tech in Asia’s Founders Meetup: Philippines on September 27]( Engage in a real talk with founders at our first-ever panel of the Founders Meetup series on September 27. Moderated by Tech in Asia editor-in-chief Terence Lee, this session invites you to hear from Brian Cu (CEO and co-founder, SariSuki) and Rexy Josh Dorado (president and co-founder, Kumu) as they discuss the real side of kickstarting and scaling a startup in the Philippines. Get a ticket to join us at Weremote Makati Central Square (2nd Floor, Makati Cinema Square, Chino Roces Ave, Legazpi Village, Makati, Metro Manila) from 5:30 p.m. to 7:30 p.m. Avoid FOMO and [sign up now]( ---------------------------------------------------------------  PRESS PEEKS The following press releases were published as they were received, without any editing from the Tech in Asia team. You too can publish your own press release on Tech in Asia by simply filling in [this]( page](. Our team will get back to you by the next business day. - MediaX Agency - [BlockchainSpace Debuts Polygon-based Community Rewards Platform, YEY, with Philippine Telco Giant at FIBA 2023]( YEY (yey.tech), through an impressive campaign at the FIBA Basketball World Cup held in the Philippines in August 2023. - PT Technologi Digital Nusantara (Techbros) - [Telecom Infra Project (TIP ON) Events 2023 Advancing Technology for the Future]( TIP-Telkom University Partnership with USTDA for the OpenRAN Feasibility Study in Indonesia; Launch Partnership with Mitratel, Exhibition and Workshop. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [International Business Trade Intern (Hybrid JKT)]( at Andalin Jakarta, Indonesia - [QA Tester]( at Avarik Saga Jakarta, Indonesia - [Live Streaming Talent]( at PT Mitra Trading Indopasifik Tangerang, Indonesia - [System Analyst Intern]( at Suitmedia Jakarta, Indonesia - [People Ops]( at Scout.inc Jakarta, Indonesia - [Network Security Engineer]( at Privy ID Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. 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