UnionDigital Bank, the digital banking subsidiary of Union Bank of the Philippines, has, so far, onboarded 1.73 million customers. The Aboitiz-led digital bank also reached $ 70 million in loan book size and collected $50 million in deposits from its first four months of operations.
UnionDigital Bank also achieved double-digit growth in digital loans to mass market communities through ecosystem partnerships powered by UnionBank.
“Since our launch, UnionDigital Bank has been focusing on serving the needs of the underserved communities within UnionBank by offering digital deposit and lending products to our ecosystem, and we will continue to support the needs of these customers with additional products overtime,” said Arvie de Vera, co-founder, president, and CEO, UnionDigital Bank.
UnionDigital Bank also onboarded its first corporate account customer, Philippine Digital Asset Exchange (PDAX). Starting with PDAX, UnionDigital Bank has been expanding its partnership base with other leading communities and corporations. UnionDigital Bank looks to provide a smooth customer experience for corporates to make payments, transfer money, and even more core banking services such as treasury services, empowering businesses to do more with their financial assets.
“Corporate partnerships are vital to helping us reach the communities who need it the most. They are integral to the cohesive network the bank seeks to build and I believe their involvement is critical to reaching a fully digital Philippines,” said de Vera. “With this in mind, the start we’ve had with PDAX joining us on our journey affirms my excitement to include more corporate partners. We look forward to collaborating with partners of the same caliber to maximize the difference we bring to the financial lives of fellow Filipinos.”
“We are confident that UnionDigital Bank offers the banking solutions that digital natives, such as PDAX, need to continuously grow,” said Nichel Gaba, Founder & CEO, PDAX.