Advertisements


UnionBank gets license to create digital bank

Union Bank of the Philippines has obtained the approval of the Bangko Sentral ng Pilipinas to establish a digital bank......»»

Category: financeSource: philstar philstarJul 22nd, 2021

BSP gives Philippines a fourth digital bank player: UnionBank

Aboitiz-led Union Bank of the Philippines received a green light from the Bangko Sentral ng Pilipinas to establish its own digital bank, joining other players in the emerging industry......»»

Category: financeSource:  philstarRelated NewsJul 21st, 2021

PNB [PNB] to convert its subsidiary, PNB Savings Bank, into a full digital bank

In a disclosure late in the trading day, PNB followed-up on its announcement to create a digital banking arm by saying that it would convert a subsidiary, Allied Integrated Holdings, Inc. (AIH), into a digital bank......»»

Category: financeSource:  philstarRelated NewsJul 8th, 2021

UnionBank& rsquo;s UBX drives financial inclusion thru region& rsquo;s most revolutionary open finance platform

In 2018, Union Bank of the Philippines, recognized as a trailblazer with first-in-industry digital solutions that continue to revolutionize banking, incorporated fintech subsidiary UBX as part of its continuing digital transformation journey to harness emerging technologies while innovating on open, embedded finance and digital platforms. .....»»

Category: techSource:  thestandardRelated NewsJul 6th, 2021

PNB to create digital bank

Lucio Tan-led Philippine National Bank is joining the race with foreign and local banks for a spot in the digital banking space in the country......»»

Category: financeSource:  philstarRelated NewsJun 28th, 2021

Foreign banks eyeing digital presence in Philippines

Several new and incumbent foreign banks have expressed interest to establish a new digital bank or convert their existing license to a digital bank in the Philippines, according to Bangko Sentral ng Pilipinas Governor Benjamin Diokno......»»

Category: financeSource:  philstarRelated NewsJun 26th, 2021

More entities seek digital bank license

More entities are looking at establishing a presence in the country’s newly created digital banking space as more consumers shift to electronic channels, according to the Bangko Sentral ng Pilipinas......»»

Category: newsSource:  philstarRelated NewsJun 14th, 2021

UNObank gets digital bank license in PH

Singapore—Singapore headquartered fintech DigibankASIA Pte. Ltd., one of the primary incorporators of UNObank, has received approval by the Bangko Sentral ng Pilipinas to operate a digital bank in the Philippines. The first fintech to receive a license outright to operate a digital bank, UNObank will be entirely regulated under the Digital Banking License framework in the Philippines......»»

Category: techSource:  thestandardRelated NewsJun 12th, 2021

CitySavings Boosts Digital Initiatives in Response to Pandemic

City Savings Bank, Inc. (CitySavings) continues to create innovative solutions for customers amidst the COVID-19 pandemic. The Bank focuses on addressing the urgent need of customers for financial services through its relevant products and digital channels. “CitySavings has always been very customer-centric and I believe that customer-centricity is essential as one digitally transforms. This is […].....»»

Category: newsSource:  metrocebuRelated NewsJun 9th, 2021

Tonik receives BSP license as pure digital bank

Tonik, the country’s first digital-only neobank, said Monday it secured a digital bank license from the Bangko Sentral ng Pilipinas, becoming the first for any private and purely digital bank in the Philippines......»»

Category: financeSource:  thestandardRelated NewsJun 8th, 2021

UnionBank shifting to cloud as digital payments accelerate

Aboitiz-led Union Bank of the Philippines is ramping up the migration of its information technology (IT) system to the cloud as digital payments continued to soar in the country amid the mobility restrictions due to the COVID-19 pandemic......»»

Category: newsSource:  philstarRelated NewsJun 5th, 2021

BSP approves OFBank’s digital banking license

The Overseas Filipino Bank, a wholly owned subsidiary of the Land Bank of the Philippines, has officially become the first branchless, digital-only bank in the country after securing a license from the Bangko Sentral ng Pilipinas.....»»

Category: financeSource:  philstarRelated NewsApr 5th, 2021

UnionBank’s 2020 performance highlights robust customer acquisition

Despite the global effects of COVID-19, particularly in the banking industry, UnionBank’s recently-disclosed 2020 Financial Results underscore the strategic importance of its digital transformation almost five years ago; as it is now harvesting its strategic rewards. The Bank was able to achieve a net income of Php11.6 billion, despite credit reserves growing by nearly five-fold […] The post UnionBank’s 2020 performance highlights robust customer acquisition appeared first on Daily Tribune......»»

Category: sportsSource:  abscbnRelated NewsMar 23rd, 2021

UnionBank, AIM team up for technology initiatives

Aboitiz-led Union Bank of the Philippines has inked a P32.4-million partnership with the Asian Institute of Management to jointly develop initiatives on technology, innovation and digital skills to provide more Filipinos with advanced skills in a post-pandemic labor market......»»

Category: financeSource:  philstarRelated NewsDec 26th, 2020

Globe backs digital projects of UnionBank

Globe Business said it supports Union Bank of the Philippines in the digitalization of its work from home setup through Globe Pocket WiFis, video conferencing tools and postpaid lines. The company also expanded its data center to accommodate both its digital initiatives and their bigger customer base......»»

Category: financeSource:  thestandardRelated NewsNov 24th, 2020

UnionBank digitizing corporate clients

Last October 20, Union Bank of the Philippines (UnionBank) held the fifth installment of its E-TalkTales series wherein Head of Transaction Banking Mon Duarte discussed the Bank’s various transaction banking solutions, particularly The Portal, its all-digital banking platform for corporate clients......»»

Category: techSource:  thestandardRelated NewsOct 24th, 2020

PNB plans to establish digital bank subsidiary

The Philippine National Bank (PNB) is thinking of putting up a digital bank either as a subsidiary or stand-alone unit, according to its president and CEO Jose Arnulfo “Wick” Veloso. PNB president and CEO Jose Arnulfo “Wick” Veloso  “We’re discussing internally with the principals,” said Veloso. “They really want us to set up a digital bank” and a pure digital bank at that. The Bangko Sentral ng Pilipinas (BSP) has drafted a circular for the establishment of digital banks in the country and the banking community is currently being consulted on this, including the proposal to impose a minimum capitalization of P1 billion for a digital banking license.  “Clearly, as we get to see more regulations (or) the regulatory body encouraging digital bank participation, we would like to also review that and probably put into a subsidiary or stand alone,” said Veloso. “I understand there is going to be different regulatory relief or ease of doing business for those that are going to set up purely digital banks. That is something that we are seriously reviewing.” Veloso, in a virtual press briefing on Friday, said that in the digital banking landscape as it is currently set up now, PNB is one of the leaders in the digital experience and since March when the lockdowns were implemented, the bank has been trying to convince clients to go digital.  “Others claim to be ahead of space in the digital world. I can proudly say that the only thing they are ahead of us are  — for one bank, the end-to-end account opening, and for another bank, it’s because of the end-to-end check deposit. But otherwise, there is no dfference with what they’re sharing with everyone else,” said Veloso. The bank has seen an increase of 18 percent in its digital and mobile transactions during the height of the pandemic lockdowns. As of end-September, they now have 696,000 users of their digital platforms, up 31 percent year-on-year.  “We want our customers to understand how they can easily manage their funds and transact by going online using our digital channels. We also want more people to learn about the products that are meant to fit all their needs (with digital banking experience),” said Veloso. Presently, PNB branches across the country are “reaching out to customers who have not yet registered with internet banking or mobile banking”. In the BSP proposed circular on digital banks, any existing banks applying to shift to digital banking are given three years to complete conversions including the closure of branches or branch lite units. The BSP said a digital bank will be confined to a digital platform and/or electronic channels “with minimal to no reliance” on physical touchpoints. It will not have a branch or branch-lite unit but it can offer offer financial products and services through cash agents and other delivery partners. However it will be required to keep a head office in the Philippines as its main point of contact and as a “central hub for receiving and resolving customer complaints.” There are three banks that are already applying to deliver digitized financial services but these applications are not digital bank applications but are applying under existing BSP banking classification, pending the digital banking regulation......»»

Category: lifestyleSource:  abscbnRelated NewsOct 18th, 2020

Philippines& rsquo; first eCommerce Debit Card launched

The Union Bank of the Philippines (UnionBank) and Lazada Philippines launch its newest offer – the UnionBank Lazada Debit Card, the country’s first eCommerce Debit Card. Created with the avid online shopper in mind, this debit card aims to make each online shopping transaction smooth and more rewarding for customers. Powered by UnionBank’s superior digital banking capabilities, customers are also assured of a seamless and secure experience all throughout their eCommerce journey......»»

Category: techSource:  thestandardRelated NewsOct 12th, 2020

UnionBank putting up more digital branches

Aboitiz-led Union Bank of the Philippines continues to ramp up the establishment of full digital branches, as well as self-service hubs nationwide......»»

Category: financeSource:  philstarRelated NewsOct 11th, 2020

Virtual banking becomes fixture

Universal bank Union Bank of the Philippines (UnionBank) took the first step in its journey toward digitization some four years ago and a lot has changed since then. From a mere necessity to survive the onslaught of disruptions that had been rocking the banking and finance industry at that time, UnionBank’s digital transformation has enabled […] The post Virtual banking becomes fixture appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsSep 9th, 2020

UnionBank remains the undisputed leader in digital banking in Philippines

A lot has changed since Union Bank of the Philippines (UnionBank) took the first step in its journey toward digitization about four years ago. From a mere necessity in order to survive the onslaught of disruptions that had been rocking the banking and finance industry at that time, UnionBank’s digital transformation has enabled it to […] The post UnionBank remains the undisputed leader in digital banking in Philippines appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsSep 9th, 2020