UnionDigital Bank, the fully digital bank subsidiary of UnionBank of the Philippines, has signed a strategic partnership resolution with 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 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.