Tag: UnionBank

Manila, Philippines – UnionBank and Mercury Drug launched the new UnionBank Mercury Credit Card – a one-of-a-kind credit card designed to reward consumers for prioritizing their health and wellness.

With the new UnionBank Mercury Credit Card, users are not only encouraged to stay on top of their health, but also to be rewarded for it. It is also is the country’s first card dedicated to rewarding health.

The new UnionBank Mercury Credit Card was completely reimagined to cater to a new generation of health-conscious consumers. The new modern design, featuring the iconic ‘Mercury Man,’ makes it not only visually appealing but symbolic of Mercury Drug’s decades-long commitment to promoting health and well-being.

With the special credit card, users are entitled to 5X rewards points on all health and wellness-related purchases — a benefit no other card currently offers. Whether consumers are buying medicines, vitamins, supplements, fitness gear, or paying for gym memberships and medical services, the card rewards their dedication to a healthy lifestyle by maximising every peso spent in these categories.

In addition to the points, the card offers no annual fees for life. Plus, cardholders will enjoy free annual physical exams and ambulance services every year.

The launch of this card marks a new chapter in the evolving partnership between UnionBank and Mercury Drug, underscoring their shared commitment to enhancing the lives of Filipinos through innovative financial solutions that support health and wellness goals.

Manoj Varma, consumer banking head of UnionBank of the Philippines, described the card as a groundbreaking financial product that stands out in the market. “This isn’t just another rewards card. The UnionBank Mercury Card is designed to meet the growing demand for wellness-oriented financial tools, and it does so with unparalleled value.”

Meanwhile, Vivian Azcona, president of Mercury Drug, shared her excitement about the partnership, noting that this card is more than a financial tool — it’s a symbol of Mercury Drug’s commitment to helping Filipinos lead healthier lives. 

“The UnionBank Mercury Card is designed to empower our customers to make healthier choices while being rewarded for it. It truly aligns with Mercury Drug’s vision of promoting health and wellness for all Filipinos,” she said.

Manila, Philippines – Commercial banking company UnionBank has announced the appointment of Ana Aboitiz Delgado as its new president and CEO, effective on January 1, 2025.

Prior to assuming this role, Delgado is widely credited for leading UnionBank’s digital retail banking innovations such as the digital bank branch model and UnionBank Online.

She will be taking on leadership of UnionBank of the Philippines from Edwin Bautista, current president and CEO, whose 27-year career saw UnionBank go from becoming the front running digitised bank in the country to setting it on a path to become a retail bank leader.

Delgado joined UnionBank as a management trainee in November 2003. Over the course of her career, she led the business development of SME Banking and Retail Consumer Finance, which included credit cards and loans.

She was likewise tasked to lead the design of the customer experience across the Bank’s physical and digital touchpoints that will differentiate UnionBank from other traditional banks.

Delgado also expanded her role to head the bank’s Institutional Banking business on top of heading customer experience and digital channels and serving as a director of the UnionBank board and as chairman of the CitySavings Bank board.

Talking about the appointment, Erramon Aboitiz, chairman of the UnionBank Board of Directors, said, “We are looking forward to taking UnionBank to greater heights with Ana at the helm. Her experience and expertise will allow her to lead the Bank’s continued digital transformation which was started by Edwin and has put UnionBank on an accelerated road towards its aspiration to be a great retail bank.”

Philippines – CitySavings, the thrift bank subsidiary of UnionBank led by the Aboitiz Group, debuts its Bank-on-Wheels (BOW) mobile kiosk to advocate for financial inclusion. The BOW serves underserved areas in the Visayas and Mindanao, as well as specified locations in Metro Manila.

Customers’ accessibility is improved by the cooperative Bank-on-Wheels mobile kiosk, which provides services including cash withdrawal and balance inquiries in association with UnionBank.

Using batteries to power the automated teller machines (ATMs) is one way that Bank-on-Wheels (BOW) demonstrates its dedication to sustainability and reduces carbon emissions associated with its operations.

Speaking about the launch, Lorenzo Ocampo, CitySavings chief executive officer, said, “Through Bank-on-Wheels, we bring convenient banking closer to our customers in the more remote areas. Extending services to regions where branch accessibility might be a challenge ensures easier access for our customers for their daily banking needs. This initiative is a glimpse of what’s to come as we strive to enhance accessibility and improve our services for our fellow Filipinos.”

Meanwhile, Manuel Santiago, Jr. CitySavings president, stated, “We take pride in the fact that this initiative prioritizes environmental responsibility without compromising growth and expansion. Our goal is to infuse sustainability into our efforts, paving the way for inclusive and sustainable prosperity across the country.” 

The Philippines – Commercial banking company Union Bank of the Philippines (UnionBank) has unveiled its Open Finance Innovation Hub, the first-in-industry program that will provide an open digital ecosystem for innovation and co-creation in the country.

According to UnionBank, the Open Finance Innovation Hub will provide a platform where various organisations can work together, learn from each other, and create cutting-edge solutions that will drive progress and transformation in the fintech industry.

Last April 13, The Fintech Business Group of UnionBank launched its Open Finance Innovation Hub at the UnionBank Innovation Campus in San Pedro, Laguna. This program promotes open innovation by offering a digital ecosystem that breaks down silos and encourages trust and collaboration. 

The first phase of the Open Finance Innovation Hub starts with a 12-week capacity-building program for start-ups, incubators and accelerators, and venture capitalists to create the innovation ecosystem, whilst the second phase consists of creating an open-source platform.

In this space, collaborators from different industries can publish and consume problem statements, data, and models, becoming the perfect tool to co-create new ideas for innovation.

UnionBank kicked off the launch with contract signing ceremonies that sealed the collaboration between the bank and its first two batches of partners. AHG Lab Chief Operating Officer and Founders Launchpad Program Supervisor Rene Cuartero, LaunchGarage Chief Operating Officer Jojo Flores, Foxmont Capital Partners Managing Partner Franco Varona, and Animo Labs Executive Director Frederico Gonzales make up the first batch of partners.

Meanwhile, Aboitiz Equity Ventures Chief Transformation Officer Emilie Sydney-Smith, UBX Business Lead Mark Gorospe, and Philippine Stock Exchange Chief Operating Officer Atty. Roel Refran comprises the second batch of partners.

“Overcoming the challenges of open innovation requires a willingness to foster a culture of collaboration, to overcome the silo mentality that often inhibits innovation. It requires us to build trust and relationships, because trust is required between partners, which can be built through effective communication, transparency, and a mutual understanding of the end goal,” said UnionBank Fintech Business Group Head Erika Dizon-Go.

“Innovation is in UnionBank’s DNA, and this is why we created this space, to bring together the enthusiasts and experts from different industries, put our heads and minds together, and create ideas and solutions,” said UnionBank Chief Human Resource Officer Michelle Rubio.

Rubio added, “Open innovation matters more now because there is really a need to drive progress and transformation not just in our business, but society in general.”

Manila, Philippines – Commercial banking company UnionBank has announced appointments for its thrift bank subsidiary CitySavings and digital bank subsidiary UnionDigital respectively. They include Ana Aboitiz Delgado as the new chairperson of CitySavings and Henry R. Aguda as the CEO and president of UnionDigital.

Delgado is concurrently serving as the senior executive vice president, chief customer experience officer and chief digital channels officer at UnionBank. 

She took strides in growing UnionBank’s digital customer base via its UB Online mobile app and was the force behind the transformation and redesign of its branches, which elevated the customer experience in physical premises. Additionally, she played a key role in the signing of the game-changing acquisition between Citibank N.A. and UnionBank.

Meanwhile, Aguda was instrumental in the trailblazing digital transformation of UnionBank as its chief technology and transformation officer. Under his term as chairman, CitySavings expanded its reach in the mass and underserved markets by accelerating the approval of teacher and motorcycle loans through the use of data science credit-scoring and acquisition models. 

Aside from Delgado, Lorenzo T. Ocampo was also appointed as vice chairman and CEO of CitySavings, while Manuel G. Santiago Jr. assumed the position of president and chief operating officer of the thrift bank.

“These leadership appointments are key to taking both CitySavings and UnionDigital to the next level of digitally-driven growth and scale, towards our aspiration to be a Great Retail Bank,” UnionBank President and CEO Edwin R. Bautista said.

The new appointments build on UnionBank’s continuing growth in the Philippine retail banking sector, following its acquisition of Citi’s consumer banking business in the country. In an exclusive The Inner State interview with Albert Cuadrante, Union Bank of the Philippines’ chief marketing officer, he shared that the acquisition helped them to grow their banking offering.

“The clear synergies that this acquisition presents us with opportunities to come out with even better products and further elevate our level of service to customers,” noted Cuadrante.

Manila, Philippines — The International Council for Small Business Philippines (ICSB PH) and Union Bank of the Philippines have joined hands to launch a three-day conference and expo for micro, small, and medium enterprises (MSMEs) for free this coming June 27 to 30. The event is entitled ‘MSME Fiesta Sulong Negosyante’ and will be held at Resorts World Manila in Pasay City.

The expo is part of ICSB and UnionBank’s celebrations for the United Nations’ International MSME Day, which is observed annually every June 27th to raise awareness of the contributions of MSMEs to the achievement of the UN Sustainable Development Goals.

During the three-day event, a number of activities will be held with the goal of helping MSMEs in every aspect of their business. There will be mentoring and coaching to be led by industry experts; opportunities to secure funding from some of the leading financing companies in the country; and learning sessions focused on a wide selection of topics namely access to loans, eCommerce platforms, payment gateways, and digital creatives, among other.

Eric Caeg, founder of ICSB, said, “What’s in it for the MSMEs? We could say we can do these things online, but then again, it’s better for them to see new partners face-to-face and learn new ideas from experts.”

Simultaneously, Jaypee Soliman, UnionBank’s SME and Micropreneurs segment head, shared, “Left and right, so many webinars for MSMEs are happening simultaneously every weekend. I think it’s time that we go beyond that.”

Soliman adds, “What we want to do is to move forward, which is why the name of the event is Sulong! Negosyante. Now, we won’t just be doing talks, but this time we’ll be doubling down on enabling our MSMEs through the activities that we’ve prepared for everyone.”

The event holds tons of surprises for those keen to attend. To make travel to the event site easier, Grab Philippines will be offering a voucher for its users, where they can enjoy a discount on their fare. Those travelling to the event via their own vehicles will also get the chance to take home gas vouchers.

To learn more about the MSME Fiesta Sulong Negosyante, interested individuals can visit Unionbank’s dedicated website registration page for the event.

Philippines – In celebration of Privacy Awareness Week, Union Bank of the Philippines (UnionBank), in partnership with the Aboitiz Equity Ventures (AEV), recently held the fourth iteration of its annual privacy and security event ‘SELYADO’ as part of efforts to promote a culture of security and privacy consciousness among Filipino individuals and organisations.

Going with the theme “Safeguarding Data and Information of Individuals, Businesses, and Communities,” this year’s SELYADO focuses on engaging micro, small, and medium enterprises (MSMEs) in relevant discussions that will help them protect their customers’ privacy and data, which is essential in today’s continuously growing digital economy.

The opening ceremony for the five-week event took place online last 18 May. The event will continue every Wednesday in the next four weeks with the following topics: ‘Data Proficiency for Beginners’ (25 May), ‘Cybersecurity for MSMEs’ (1 June), ‘Updates on DP Regulations and Data Privacy Trends’ (8 June), and ‘Empowering Your Business through Data Governance’ (15 June).

On the discourse of cybersecurity, UnionBank’s Chief Information Security Officer Joey Rufo, said, “We want to use SELYADO 4.0 to touch base with MSMEs to make them aware of how cybersecurity can be a strong value proposition for their business. How a trusted business can enable growth as consumers will only transact with organisations they can trust with their information and money.” 

“As we celebrate Privacy Awareness Week together with the National Privacy Commission, we envision inclusive digital transformation and innovation in aiding MSMEs to cater to the data and information needs of their growing sector—inclusive, because we want to empower them to know how they can protect their data and that of their customers,” said UnionBank’s Data Protection Officer and Head of Artificial Intelligence and Data Policy, Atty. Sasa Montes.

“Together with the Data Privacy Group and the Cybersecurity Team, we bring SELYADO 4.0 with the cybersecurity specialisations that we are very proud of in UnionBank,” said UnionBank’s SME and Micropreneurs Head Jaypee Soliman. 

According to Soliman, their partners are also present in the event to bring their knowledge, expertise, and even their technologies to the MSMEs. “These partnerships are very critical, because this fight cannot be handled by one, it cannot be handled by a few, it has to be all of us together learning, understanding, implementing, and even advocating for our security,” added Soliman.

UnionBank’s Head of Blockchain and API Business Group Cathy Casas was one of the speakers during the event, where she talked about the Metaverse and how the emerging idea of a fully immersive virtual world is changing how organisations think.

“We feel that from the Metaverse, especially as blockchain is embedded here, at least the concept of it, it’s not just important now but it will continue to grow in importance in the coming years,” Casas said.

Atty. Darwin Angeles, also one of the event’s speakers, talked about the importance of developing an intellectual property (IP) strategy and touched on how cybersecurity can help protect a business’ IP, which is typically what sets one apart from the competition. 

“Security infrastructure is very important because we want to protect something that’s important to us, and for a business, intellectual property, or our brand identity that gives us competitive edge, can be that crown jewel for our business for which we want to seek protection for,” Angeles said.

The third speaker, NPC Deputy Privacy Commissioner Atty. Dug Christopher Mah, did a presentation on accountable personal data management for MSMEs, which reiterated that MSMEs must strictly follow the rules set by the commission in order to ensure the privacy and security of customers.

“Data privacy and data security must be part of the core organisation and a strategic concentration for all businesses to safeguard the privacy rights of their customers, especially their data subjects,” Mah said.

In the closing remarks, Dr. David Hardoon, said, “We’re doing this to make sure that security, governance, privacy are a hygiene, and I used the word ‘hygiene’ in its utmost positive and developmental sense, that it is something that facilitates us to develop, to innovate, and build solutions that benefit us, both within the organisation, and of course our consumers.” 

According to Dr. Hardoon, this initiative is ultimately about making sure that privacy is a driver for business development, a driver for innovation, a driver for possibilities.

Philippines — The Board of Directors of Union Bank of the Philippines has approved and confirmed the largest number of executive promotions ever done by the Bank with a total of 74 executive officers. Leading the newly-promoted executive officers is fifth-generation business leader Ana Aboitiz-Delgado, from executive vice president to senior executive vice president effective June 1, 2022.

In her previous roles as the UnionBank’s chief customer experience officer and chief digital channel officer, Delgado took great strides in growing UnionBank Online in terms of user base and features, transforming and re-branding of branches even during the pandemic, and creating the business models for self-service branches and Corporate Ark.

Additionally, she was key in the seamless signing of the game-changing deal between Citi and UnionBank last December 2021 and is now at the forefront of the ongoing integration of both banks.

The Board likewise approved and confirmed the extension of Edwin R. Bautista as the president and CEOofUnionBank until December 31, 2025. Bautista was appointed as the Bank’s president in 2016 and CEO in 2018. Bautista was responsible for starting the Bank’s digital transformation six years ago and has successfully put UnionBank’s name on the global digital map. Bautista was the driving force behind the acquisition of the consumer banking business of American banking giant Citi in the Philippines.

Philippines — City Savings Bank (CitySavings), the thrift subsidiary of Union Bank of the Philippines (UnionBank), has appointed Henry R. Aguda, chief technology and operations officer and chief transformation officer of UnionBank, as its new chairman of the board. His expertise is expected to boost CitySavings’ digital transformation initiative as the bank envisions helping more people with moderate means.

Larry Ocampo, president and CEO of CitySavings, said, “Aguda brings with him a wealth of expertise that was also instrumental in UnionBank’s successful digital transformation. With his appointment as its new chairman, we are confident that CitySavings will be able to go further in its transformation journey, allowing it to cater to the underserved segment much better.”

On his appointment, Aguda said, “CitySavings has been helping many of our kababayans through accessible financing options, and our priority is to bring these loans to even more potential customers by optimizing the Bank’s existing customer touch points and the infrastructures that support them, powered by AI models created by our Data Science and AI Team.”

CitySavings has seen great results with its initial pilot of AI-driven solutions that utilized historical data to improve customer relevance for loans availed, achieving a conversion rate of 35 per cent in its testing phase. CitySavings also created an in-house credit scoring model to complement its AI capabilities, which resulted in improved turnaround time and enabled the bank to raise its motorcycle loans portfolio to ₱7.06b as of end-March.

CitySavings’s stronger, AI-focused digital push is seen to magnify the success of these projects, allowing the Bank to serve even more customers. With its primary goal of becoming the Philippines’ leading thrift bank, CitySavings sees digital transformation as a necessary step in achieving this goal. By utilizing emerging technologies as well as key learnings from its parent bank UnionBank, CitySavings hopes to shore up its digital capabilities, and in turn, create products and services that are more meaningful to Filipinos.

On the bank’s strives for digital transformation, Ocampo said, “This renewed commitment to digitally transforming our organization will allow us to harness innovation like never before and serve our customers better. CitySavings has always been one with UnionBank in envisioning a future where everyone is empowered by technology and this brand new chapter for us opens new possibilities toward achieving that vision.”

Philippines — Union Bank of the Philippines, whose digital banking division services micro, small, and medium enterprises (MSMEs), and major e-commerce platform Lazada, have collaborated to enable online sellers to have more options when it comes to bringing their products closer to customers.

With the memorandum of agreement signed last 10 March 2022, UnionBank, through its digital MSME online platform UnionBank GlobalLinker (UBGL), will be creating a special site for all Lazada sellers, while the latter will be doing the same for UBGL sellers. All existing Lazada sellers prior to the partnership will be automatically included.

According to UBGL and Lazada, the joint initiative aims to encourage more sign-ups in both of their respective marketplaces. It will help entrepreneurs expand their online presence much easier, as enlisting with either platform automatically opens up another virtual storefront for them, resulting in more opportunities in doing business with customers.

Signing up offers numerous benefits to sellers. First, they will have access to a dedicated Lazada Onboarding Team. This crew can provide guidance on a number of ideas ranging from selling to strategies; help those who have questions or concerns, and notify sellers about the latest initiatives within the Lazada platform.

In addition, sellers can utilize the following campaign features for free: Members Exclusive Campaign in the home page banner, landing page, and Lazada live, New Seller Campaign Access, and Mega Campaign Access. The first 150 signups will also enjoy service marketplace packages amounting to more than PHP1m in support. These include product photography, product upload, and store builder design, among others.

Lazada will likewise be promoting the UnionBank GlobalLinker platform to its own Lazada Seller Community, so that they too, can reap the benefits of the UBGL Platform.

Jaypee Soliman, vice president and head of SME and Micropreneurs Segment for UnionBank, said that right now, we are, without a doubt, in the golden age of e-commerce in the country.

“We want more enterprising Filipinos to thrive in this period of exponential growth for online shopping, which is why our enhanced partnership with Lazada is very timely. This is all part of our efforts to support the country’s MSME sector, bolster our “Tech-Up Pilipinas” advocacy, and promote inclusive prosperity for Filipinos,” Soliman said.

Carlos Barrera, chief operating officer of Lazada Philippines, commented, “With more MSMEs going online, the partnership with UnionBank is definitely a great step forward in enabling Filipino businesses to grow and scale their e-commerce presence. As we go into our 10th year of empowering MSMEs to go digital, we share an equal mission with UnionBank to continue to uplift Filipino entrepreneurs and further fuel the local digital economy.”

Lazada has been a consistent partner of UnionBank in backing the country’s MSME sector and making online shopping easier for customers since 2020. During the peak of the health crisis, the two companies provided an emergency credit lifeline to Lazada sellers who were heavily affected by the pandemic. In August of the same year, they launched the UnionBank Lazada Credit Card, providing numerous perks to Lazada shoppers.