Digital banking leader Union Bank of the Philippines (UnionBank) has recently been awarded by Asiamoney as the "Best Bank for SMEs."
In
a statement, Asiamoney lauds UnionBank's steadfast commitment to leveraging
digital solutions to empower businesses of all sizes, which has earned it this
esteemed recognition.
The
bank's mission revolves around the belief that with the right digital tools,
any enterprise can build a more competitive, efficient, and
sustainable business.
The
bank embarked on its digital transformation journey well before the onset of
the global pandemic. Its groundbreaking ‘Tech Up Pilipinas’ platform was
already making significant impact with the primary goal of harnessing the power
of digital technology to expedite financial inclusion and cascade the benefits
of economic growth throughout the Philippines.
Asiamoney
highlighted the bank’s milestones in helping MSMEs including the
first-of-its-kind MSME Business Banking mobile app, which was introduced in
2021, marking a pioneering step in digital banking for micro, small, and
medium-sized enterprises (MSMEs). As a result, sole proprietors and entrepreneurs
were provided with a versatile range of banking options, empowering them to
navigate their financial needs with ease. In 2022, the Bank launched the ‘Power
to Grow’ campaign or widely known as #WalangMaliitNaBusiness, to reinforce its
commitment and support to MSMEs to help them with the means to take their
business to the next level.
UnionBank's
President and CEO, Edwin Bautista, emphasized the urgency of ensuring that no
business, regardless of its size, gets left behind in today’s fast-paced
digital environment. The Bank recognizes
that digitally empowering MSMEs to innovate, optimize their
operations, and scale up, will drive growth, not only for businesses, but
for the national economy. It is a win-win for both businesses and the
nation.
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