UnionDigital Bank, the
fully digital bank subsidiary of UnionBank of the Philippines, has signed a
strategic partnership resolution with fourteen (14) other subsidiaries of the Aboitiz
Group. This partnership will allow the digital bank to tap into the
Group’s ecosystem to provide banking and financial services to their customers.
With this partnership, UnionDigital Bank will leverage on the Group’s network to develop
and deploy streamlined risk models, enable efficient underwriting, and loan
approval process. This way, the digital bank will be able to offer better
credit products to the underserved segments of the
group.
“This partnership will allow us to power through the synergy of the Aboitiz
Group and offer appropriate digital banking solutions to its customer base,
starting with lending which is our key focus for this year,” said Henry R.
Aguda, President and CEO, UnionDigital Bank. “In partnership with Aboitiz Data
Innovation (ADI), we will harness AI-powered alternative credit scoring and
risk models to meet the underserved credit needs of the ecosystem.”
In a major milestone in realizing the Aboitiz
Group’s transformation into the Philippines’ first “Techglomerate”, executives
from the fifteen (15) Aboitiz group companies came together last February 16,
2023, during the Aboitiz Leadership Conference, to sign an omnibus management
resolution.
This initiative is backed
by robust policies and processes, complemented by the tools and capabilities
which further ensures security, privacy, and governance during
operationalization.
This is a significant
step towards UnionDigital Bank’s mission to make banking available and accessible to Filipinos all over the country.
Through its low touch and high-tech banking, UnionDigital Bank will extend
UnionBank’s legacy of innovation to the underserved communities.
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