#FinancePH - UnionDigital Bank Forged a Strategic Partnership with the Aboitiz Group to Further Drive Financial Inclusion

A strategic partnership resolution has been inked by UnionDigital Bank, a wholly digital bank subsidiary of UnionBank of the Philippines, and fourteen (14) additional Aboitiz Group entities. By this relationship, the digital bank will be able to access the Group's ecosystem and offer banking and financial services to its clients.

Under this agreement, UnionDigital Bank will make use of the network of the Group to create and implement simplified risk models, facilitate quick underwriting, and speed up the loan approval process. In this approach, the underserved portions of the market can access better credit products from the digital bank.

“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.”

Executives from the fifteen (15) Aboitiz group companies gathered on February 16, 2023, during the Aboitiz Leadership Conference, to sign an omnibus management resolution, which represents a significant step toward the realization of the Aboitiz Group's transformation into the first "Techglomerate" in the Philippines.

In addition to being supported by strong policies and procedures, this effort also has the tools and capabilities necessary to further ensure security, privacy, and governance while it is being operationalized.

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. 

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