UnionDigital Bank, Huawei partner for financial inclusion

MANILA, Philippines — The digital bank subsidiary of Aboitiz-led Union Bank of the Philippines has partnered with global technology leader Huawei to bring innovative financial services to more people in the Philippines.

Under the partnership, UnionDigital Bank aims to tap into the tech company’s ecosystem of services and seven million customer base.

UnionDigital Bank president and CEO Henry Aguda said the partnership with Huawei reflects the shared belief in harnessing the power of technology to enhance financial inclusion and provide convenient banking solutions to all.

“Together, we are committed to shaping a better future by leveraging our combined expertise and resources to create innovative and accessible banking services,” Aguda said.

Through the strategic collaboration, the UnionDigital Bank app is now available on the Huawei app gallery to allow easy access for users to the digital bank’s financial services and products.

As the number one digital lender in the country, UnionDigital Bank will offer loan products to mobile users through Petal Ads, the mobile marketing platform tailored for Huawei devices.

Ken Liang, director of mobile ecosystem business growth at Huawei Technologies Philippines, said the company is proud to work with a tech-first and tech-forward company like UnionDigital Bank that shares its vision for leveraging technology to create positive change and make a difference in people’s lives.

“Our alliance reflects our commitment to driving innovation and using it for the greater good. We are excited to collaborate with UnionBank’s digital bank subsidiary to contribute and help in making their commitment a reality, starting with our users,” Liang said.

The tie-up between UnionDigital Bank and Huawei marks an important step towards promoting financial inclusion and leveraging technology to make innovative banking solutions closer to a greater number of Filipinos, regardless of their location or economic status.

The partnership aims to empower more people to access essential financial services designed to contribute in supporting the country’s growing digital economy.

Under its Digital Payments Transformation Roadmap, the Bangko Sentral ng Pilipinas aims to increase the number of Filipino adults with bank accounts to 70 percent and shift 50 percent of total retail transactions to electronic channels by 2023.