Digido wins 11 awards, including two ‘Best’ accolades from Global Banking & Finance Review

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Digido, multi-awarded consumer finance company has ended the first three months of the year with 11 award recognitions from four esteemed global finance and business publications.

The digital lending service was named by the Global Banking & Finance Awards® as the Philippines’ “Best New Online Lending Services” for the second year in a row, as well as the country’s “Best New Fintech Company”.

Digido bagged a trio of wins from the World Economic Magazine Awards, winning in the “Best Customer Service Company For Finance Philippines 2024”, “Best Personal Loans Provider Philippines 2024” and “Best New Online Lending Services Philippines 2024” categories.

The Global Financial Market Review named the platform the “Best Digital Lending App in the Philippines” while the Gazet International Awards recognized Digido in five categories: “Best Digital Lending Firm Philippines 2024”, “Most Customer-Friendly Financial Solutions Philippines 2024”, “Most Innovative Digital Lending App Philippines 2024”, “Best Digital Loan App Philippines 2024”, and “Best Digital Lending Platform Philippines 2024”.

Earlier, Digido announced that it has served over one million Filipinos through its safe, reliable and inclusive digital lending services.

Commenting on the 11 awards, Digido business development manager Rose Arreco said: “We recognize the unprecedented nature of this series of recognitions from these prestigious finance and business publications and feel incredibly humbled. We at Digido have been striving to ensure we remain a trusted financial partner for the Philippines’ underserved, and these awards are stark reminders to do so with the consumer at the forefront.”

An earlier commissioned survey by Digido revealed that personal loans were the most popular formal credit option, with 54% of respondents having one in 2023 due to its flexibility and variety of use.

Digido offers a First Loan For Free service, where first-time borrowers can avail up to PHP 4,000 with 0% interest and a standard Personal Loan up to PHP 25,000 for repeat clients. It can be accessed through its official site digido.ph, its apps in Google Play and the iOS App Store, and Lazada Loans.

Road trip this long weekend? Here are some tips to keep it hassle-free

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With the long weekend coming up, many Filipinos are gearing up for a well-deserved break. Road trips are a popular choice during this time, especially to beach destinations as summer approaches.

Here are some tips to ensure your road trip is smooth sailing:

1. Plan your route.

Long weekends may involve road closures, maintenance, or construction, so it’s best to check the news for updates. Navigation apps will prove helpful during this time. The holiday rush may also affect traffic, so beat other travelers by leaving earlier, if possible.

 

2. Check your car.

A vehicle in top condition will be your best friend during a long journey. Ensure your tires are aligned and balanced, car fluids and battery are secure, and lights and turn signals work. Inspect your car before the trip to ensure everyone’s safety.

 

3. Pack essentials.

Long drives call for ample snacks to keep hunger at bay and a steady water supply to prevent dehydration. Bring essential medications and a first aid kit for any untoward incidents.

 

4. Go cashless.

Long lines at ATMs during holidays are inevitable. Embrace hassle-free travel by going cashless. Opt to pay through bank transfers, QR codes and the like.

5. Use Easytrip and Autosweep RFIDs.

Streamline your tollway transactions with RFID payments. By eliminating the need for cash transactions, drivers can breeze through tollways, avoiding long lines and unnecessary delays.

For a stress-free road trip this long weekend, effortlessly set up a PSBank account by simply downloading their mobile app. Enjoy cashless transactions through QR codes, and instantly reload your Easytrip and Autosweep RFIDs with PSBank.

For more information on PSBank’s products and services, visit psbank.com.ph or facebook.com/psbankofficial.

Home Credit Philippines signs additional 7B Loan Credit Facility with BPI

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Home Credit Philippines (HCPH) recently signed an agreement for an additional P7 billion loan facility with Ayala-led Bank of the Philippine Islands (BPI), making BPI the company’s biggest creditor with a total of P13.5 billion combined credit line facilities. 

(From left) BPI executives: John-C Syquia, Institutional Banking Head, and TG Limcaoco, President and CEO; Home Credit executives: Zdenek Jankovsky, Treasury and Funding Director, and Patrick Peter Santos, Head of Funding

This is the third loan credit facility extended by BPI to HCPH, following a P1 billion facility in December 2022, P4 billion in August 2023, and an additional P1.5 billion in November 2023 from Robinsons Bank Corporation; following its recent merger with BPI.

Home Credit is the largest consumer finance company in the Philippines. As of end-2023, it has served 10.4 million customers all over the country through a selection of affordable and accessible financing products.

“We at BPI are committed to accelerating our efforts to elevate financial inclusion in the Philippines. We are glad to support Home Credit by providing tailored solutions to enable their financial inclusion initiatives to thrive and at the same time, improving the quality of life for Filipinos, enabling them to do more. This forms part of our vision to help build a better Philippines—one family, one community at a time,” said BPI President and CEO TG Limcaoco.

“This additional loan credit facility to Home Credit, extended by no less than BPI, the first bank in the Philippines and the Southeast Asian Region, is a strong testament to the strong performance and stability of Home Credit’s business in the country as a leading consumer finance company,” Zdenek Jankovsky, HCPH director and treasurer, said.

Home Credit Philippines was issued a double-A Issuer Credit Rating with stable outlook by PhilRatings (Philippine Rating Services Corporation), a pioneer domestic credit rating agency, in 2023 based on its overall creditworthiness and ability to meet all its financial commitments and sustain its growth in its market.  

“This local loan credit facility will enable us to better serve our 10-million strong customer base, allowing us to expand access to credit opportunities for more Filipinos,” Jankovsky added. 

Also in witness of the signing event were BPI officers and executives (from left): Micah Clemente, Relationship Manager; Barbara Untalan, Head of Top Corporates-MNCs and Sectors; Maria Teresa Anna Lim, Head of MNCs and Sectors and; and Grace Saulog, Head of Financial Institutions and Correspondent Banking; with Henry Segovia, Home Credit Funding and Business Development Manager.

Home Credit Philippines has been at the forefront of broadening financial inclusion in the Philippines for more than a decade since it opened its doors in the country in 2013. It has continuously provided innovative credit opportunities for Filipinos especially to women, young people, and those earning less than 20,000 a month.

HC Consumer Finance Philippines Inc., HCPH’s corporate entity, was acquired by Thailand’s Krungsri (Bank of Ayudhya PCL) and Japan’s MUFG (Mitsubishi UFJ Financial Group, Inc.) in June 2023.  

To know more about the latest updates from Home Credit Philippines, visit its official website, www.homecredit.ph. You may also follow its official Facebook, Instagram, and TikTok accounts. Customers are also encouraged to download the My Home Credit App on Google Play to learn more about the latest promos and see what’s new in the Marketplace.

Home Credit Philippines is a financing company duly licensed and supervised by the Securities and Exchange Commission (SEC) and the Bangko Sentral ng Pilipinas (BSP).

Smart partners with UnionBank to reward subscribers with up to P5,000 Welcome Gift

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Smart subscribers have one more reason to celebrate the new year as mobile services provider Smart Communications, Inc. (Smart) has teamed up with Union Bank of the Philippines (UnionBank) to bring more exclusive rewards to subscribers with their new UnionBank Credit Card.

Under this exciting partnership, qualified Smart Prepaid subscribers will receive a P2,000 Welcome Gift with their new UnionBank Rewards Credit Card, while qualified Smart Postpaid and Smart Infinity subscribers will receive a P5,000 Welcome Gift with their new UnionBank Rewards, UnionBank Miles+, or UnionBank Reserve Credit Card.

Eligible subscribers can make the most of this exclusive Welcome Gift as they shop at their favorite stores or their go-to online shopping apps and e-commerce platforms. Smart subscribers can learn more about the perfect UnionBank Credit Card that suits their lifestyle at https://smart.com.ph/Pages/ubwelcomegift/.

How to redeem your exclusive Welcome Gift from Smart and UnionBank

Smart Prepaid subscribers with a new UnionBank Rewards Credit Card may receive their P2,000 Welcome Gift by linking their UnionBank Rewards Credit Card to GigaPay on the Smart App, and then purchasing PowerAll 99 on the Smart App.

On the other hand, Smart Postpaid subscribers with a new UnionBank Rewards Credit Card may receive their P5,000 Welcome Gift by simply enrolling their Smart Postpaid account to the Auto Bills Payment on UnionBank’s website.

Aside from this exclusive Welcome Gift, UnionBank Rewards cardholders may also enjoy No Annual Fees Forever with an accumulated spend worth P20,000 within 60 days of card approval.

UnionBank Miles+ and UnionBank Reserve for Smart Infinity members

Meanwhile, Smart Infinity members on Plan 3500 may get their P5,000 Welcome Gift with their new UnionBank Miles+ Credit Card by simply enrolling their Smart Infinity account to the Auto Bills Payment on UnionBank’s website. UnionBank Miles+ Credit Card also gives users a chance to redeem a Welcome Gift of 30,000 never-expiring miles with an accumulated spend of P40,000 within 60 days of card approval.

In addition, Smart Infinity members on Plan 5000 and Plan 8000 may also receive their P5,000 Welcome Gift with their new UnionBank Reserve Credit Card by simply enrolling their Smart Infinity account to the Auto Bills Payment on UnionBank’s website. Application to UnionBank Reserve Credit Card is by invite only and Plan 5000 and Plan 8000 members are automatically eligible to apply.

On top of this Welcome Gift, UnionBank Reserve cardholders may also redeem as much as P18,000 worth of eGift from Giftaway merchants with an accumulated spend of P40,000 within 60 days of card approval.

This exclusive promo will run until February 29, 2024.

Smart’s collaboration with UnionBank is part of its thrust to bring exclusive rewards and epic lifestyle treats to the fingertips of subscribers on top of empowering them with the best mobile network experience possible. Learn more about the latest treat from Smart and UnionBank at https://smart.com.ph/Pages/ubwelcomegift .

BPI AIA welcomes Neri Miranda as their Newest Brand Ambassador

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Celebrity mom and entrepreneur Neri Miranda joins BPI AIA as their newest brand ambassador. Known for her savvy business acumen and entrepreneurial pursuits, she represents the new breed of Filipinas who strive to work hard and constantly look for ways to provide more for their family.

Together with her husband and Parokya ni Edgar frontman, Chito Miranda, who is currently a BPI AIA ambassador himself, the couple continues to inspire many Filipinos because of their shared values, love for their family, and advocacy of spreading financial literacy and securing the future of Filipino families.

 

In a vlog published on the BPI AIA YouTube Channel and Facebook Page, Chito and Neri shared their story and journey of love, and how BPI AIA has been a part of their lives, especially in building their family and business.

 

“We are pleased to have Neri join us as our newest brand ambassador. Together with her husband, they both share the same principles, values, and vision of BPI AIA to help Filipinos live healthier, longer, and better lives,” said Karen Custodia, BPI AIA CEO. “As part of the AIA Philippines Group, we at BPI AIA continue to strengthen our commitment to empower individuals and growing families like theirs through our financial solutions fit for any life stage.”

 

The launch of the partnership is part of BPI AIA’s latest campaign, “Love is Better Said” which emphasizes that protecting your family’s future through financial security is a great way to express one’s love. BPI AIA encourages everyone to take the step towards a more secure future through proper financial planning.  In this way, we are able to show how much we love our families because love is better said with BPI AIA.

 

BPI AIA invites you to watch Neri and Chito’s trip down memory lane as they share their story of love together with BPI AIA. https://www.youtube.com/watch?v=BLRL0kE9-F4

 

Allianz PNB Life Philippines appoints Joseph Gross as new President and CEO

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Allianz PNB Life, one of the leading life insurance companies in the Philippines, recently announced the appointment of Joseph Gross as its new President and CEO. Gross brings over 20 years of experience in the insurance industry, having held various senior leadership positions within the Allianz Group.

Joseph Gross, President and CEO, Allianz PNB Life Philippines

Gross first joined Allianz in 2002 as Senior Vice President of Strategic Brand Management and Head of CoC Marketing Management in Munich, Germany. In 2010, he was promoted to the role of Executive Vice President – Head of Group Market Management, where he continued to strengthen local and global brand investments and strategic partnerships. This includes the partnership with Bayern Munich and Formula 1, and the recognition as the Number One insurance brand in the world by the Interbrand rankings. 

In addition, Gross was the global lead in the implementation of the True Customer Centricity strategy, a key performance metric used within the Allianz Group network. From 2016 to 2022, he served as CEO of Allianz Life Insurance Malaysia Bhd. Under his leadership, Allianz Malaysia reached the top 5 ranking in Allianz globally, with 60% revenue (GWP) growth, a massive increase in profitability, new business value, customer satisfaction, and employee engagement.

Gross joins Allianz PNB Life Philippines from his previous role in Germany as Head of Global Executive Strategy and Development, where he was responsible for identifying, placing, and developing the top management of the company.

“I am very excited to build on our accomplishments in the Philippines. Thanks to the leadership of my predecessor, Alex Grenz, and our management team, Allianz PNB Life has become one of the leading life insurance companies in the industry six years after our founding. I look forward to sharing my knowledge and experience in other markets to further strengthen our brand and enhance the experience of our customers, partners, and colleagues,” enthused Gross.

Allianz PNB Life is a joint venture between Allianz Group and PNB, established in 2016. It is now among the country’s leading life insurers and the #1 bancassurance partner, with a comprehensive portfolio of Variable Life products, complemented by a full line of Life protection offerings for individuals and institutions. All their products and services are designed to meet the lifetime financial planning, wealth accumulation, and well-being aspirations of every Filipino family.

"We at Allianz PNB Life are committed to our purpose of securing the lives of more Filipinos. To achieve this, we will consistently introduce new solutions and enhance the ease of doing business with us. Working together with our Life Changers and key partners such as PNB, our organization will strengthen our reputation for placing the customer at the center of everything we do,” assured Gross.

With the appointment of President and CEO Joseph Gross, Allianz PNB Life Philippines is well-positioned to continue its growth trajectory and deliver value to customers and stakeholders.

More information about AZPNB is available at allianzpnblife.ph or @allianzpnblifeofficial in Facebook.

Here’s why you should upgrade to the UnionBank SSS UMID Pay Card

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In case you missed it - Union Bank of the Philippines (UnionBank) has partnered up with the Social Security System (SSS) for the new UnionBank SSS UMID ATM Pay Card, which functions as both a government-issued ID card and ATM card linked to a UnionBank savings account.

Since the launch, many qualified SSS members have already upgraded to a UnionBank SSS UMID ATM Pay Card and are currently enjoying its perks and benefits.

“As soon as I saw the post from SSS [about the card] on Facebook, I tried to apply that same day,” Kenneth Sulmayor, a 32-year-old business owner, said. “I visited my My.SSS account, shared my consent, downloaded the UnionBank app and applied. After that, I received an email confirmation that my application was successful.”

“It’s very easy, since the instructions on how to get the Pay Card are clear on the app,” shared 38-year-old call center agent, Ryan Abouelo. “UnionBank’s app is also easy to navigate.”

SSS members can expect to receive their upgraded UMID cards faster. Sulmayor’s UnionBank SSS UMID ATM Pay Card was delivered to him more or less 15 banking days after he applied on the UnionBank app, while Abouelo says he received his within two weeks.

UnionBank also makes sure that the cards are delivered safely and securely. “[The courier] is quite strict, they won’t release the card if the owner isn’t there to receive it,” Sulmayor recounted. “Even then, they still asked me for an ID to verify. There was no hassle.”

There are also a variety of ways holders can use their UnionBank SSS UMID ATM Pay Card. One SSS member, a 23-year-old HR officer, shared her friend’s experience after choosing to upgrade. “[My friend] uses it right now to receive her SSS loan proceeds,” she said. “Back then, she experienced difficulties in connecting her bank account to receive her SSS loan. But since she has the UnionBank Pay Card now, the proceeds go straight to the connected [UnionBank savings] account.”

Sulmayor, on the other hand, has already tried using the card in his bank transactions. “It’s just like a typical bank account, the transaction process went well,” he said. “I was able to transfer my funds from my other bank account to this [UnionBank Pay Card account].”

These users, and many others like them, only have good things to say about their experiences with their new UnionBank SSS UMID ATM Pay Card, from the simple application process to the quick processing time and ease of use.

“There is so much you can do with it. You can view [your account balance] online, and it doubles as a savings account,” Abouelo noted. “I say grab [the opportunity to upgrade], it’s legit.”

“I’ve already recommended [the UnionBank Pay Card] to the people I know who are still waiting for the release of their UMID card,” Sulmayor shared. “This is the first time I’ve seen and experienced something like this, you have a valid ID, and at the same time, an ATM card and savings account. It’s quick, and easy, and you can receive customer care from both SSS and UnionBank. It’s a great opportunity.”

Interested? Right now, qualified SSS members may apply for or upgrade their card to the UnionBank SSS UMID Pay Card, which will be linked to a regular savings account with no required maintaining balance. Members will be able to receive their SSS benefits, loans, and refunds through here.

Members will also be able to use the UnionBank mobile banking platform to check their balance, withdraw cash, transfer funds, pay bills, or deposit cash through UnionBank’s branches, self-service machines, and BancNet automated teller machines nationwide.

Upgrading to the UnionBank SSS UMID ATM Pay Card is FREE, and members who fund their account with a minimum of Php 1,000 are entitled to a free Jollibee eGC worth Php 200 and a chance to win a brand-new Mitsubishi Xpander GLS, or one of three iPhone 14 128GB units. This promo is extended to April 30, 2023 - so don’t miss out!

To learn more about the UnionBank SSS UMID ATM Pay Card, visit https://www.unionbankph.com/sss-umid.

Gov’t should double down on open finance to hasten financial inclusion goals – ECCP-SCOFFI

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The government ought to double down its initiatives on open finance, as it races to achieve its financial inclusion goals this year, according to the European Chamber of Commerce of the Philippines’ (ECCP) Special Committee on Open Finance and Financial Inclusion (SCOFFI).

As the new administration assures that it will prioritize digital transformation on a national scale, the ECCP-SCOFFI believes that it is high time that the government places more premium on the development of policies and the rollout of more open finance initiatives in the country.

Open finance allows industry players to create customer-centric products and provide better access to critical financial services such as savings, insurance, and credit. This year, the Bangko Sentral ng Pilipinas (BSP) aims to bring at least 70 percent of adult Filipinos into the formal financial system, but as of 2022, 47 percent of the population remains unbanked.

“With multiple economic crises at present and a looming global recession ahead of us, financial inclusion should be emphasized now more than ever. The inclusion of multiple economic sectors in the Philippines is crucial, especially considering that we are still recovering from the impact of COVID-19 and many challenges are already being posed by the circumstances in the post-pandemic era. As staunch advocates of inclusivity, we at ECCP-SCOFFI vow to support the government’s endeavors towards financial inclusion and open finance,” ECCP-SCOFFI Chairman John Januszczak said.

Januszczak, who also sits as president of UBX, the leading open finance platform in the Philippines, added that open finance can help in rebuilding the economy by strengthening digital businesses.

He cited a Google and Temasek study that predicted that the Philippine digital economy, currently valued at $20 billion, is expected to maintain an upward trajectory to as much as $150 billion in the next decade.

“This trend highlights the urgent need for the government to accelerate its digital transformation initiatives to maximize the potential of the digital economy. Digital finance will be the bedrock of digital transactions. Through open finance, we can help reduce finance and even social inequalities in the Philippines,” Januszczak said.

Under Januszczak’s leadership, the UBX supported the government’s open finance initiatives through several projects.

Digital Transformation ng Pilipinas (DigiPinas), a UBX-led multisectoral initiative for digital transformation in the government, was launched in 2022. DigiPinas aids the government in crafting policies related to digital transformation, geared towards solving age-old problems such as low digital adoption, lack of awareness, gaps in access, digital skills gap, and complex regulations.

DigiPinas also helped in bringing ​​digital solutions to the national and local governments, especially those that are in the far-flung and rural municipalities.

UBX also launched last year Project Kasama sa Lahat with the Philippine Postal Corp. (PhilPost), which is currently transforming hundreds of its post offices nationwide into modern hubs that offer financial and data services to far-flung areas.

In addition to widening its geographic scope, open finance also seeks to benefit the micro, small and medium-sized enterprises (MSMEs), which include sari-sari stores, carinderia, and fish stalls that rely on loans to sustain their businesses.

Moreover, UBX’s SeekCap, its online lending platform, provided entrepreneurs access to loans that they need to expand their businesses.

Additionally, i2i, the banking-as-a-service platform of UBX, empowered MSMEs to become cash agents, enabling them to process financial transactions similar to banks.

“Achieving financial inclusion is not just a one-man agenda. It requires cooperation among all those involved, but it must be emphasized that the government must be at the forefront of this campaign. I have full faith in our leaders that they will call upon the best people for the job in promoting its open finance initiatives,” Januszczak said.

Established to promote financial inclusion in the Philippines, ECCP-SCOFFI provides an avenue for stakeholders to discuss issues and solutions to the status quo while fostering financial inclusion through technology. Together with UBX, the Special Committee has been a big help to the BSP when it comes to formulating open finance standards and procedures for better implementation.

Reminder to qualified UMID applicants: Upgrade to UnionBank SSS UMID ATM Pay Card today

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SSS members with pending UMID ID releases may avail of free upgrade online

Union Bank of the Philippines (UnionBank) is reminding members of the Social Security System (SSS) who are qualified for a free upgrade to the UnionBank SSS UMID ATM Pay Card to avail of the offer now so they can enjoy an easy and convenient way to receive their SSS proceeds.

Announced a few months ago, the UnionBank SSS UMID ATM Pay Card is a government-issued ID card and fully functional ATM card that is linked to a UnionBank savings account, where SSS members can receive the proceeds of their benefits, loans, and refunds. The savings account doesn't require maintaining balance.

SSS members who are registered on My.SSS and have applied for the standard UMID card but have not received it yet may avail of the UnionBank SSS UMID ATM Pay Card upgrade for free. To let them know about the upgrade option, SSS also sent invitations to qualified members via email, so they may want to check their email. The upgrade will be available to all SSS members applying for the UMID card eventually.

Qualified members may upgrade their card by logging in to their My.SSS account, or register if they haven’t yet. They will then need to go to the "E-Services" tab, access the "Data Sharing Consent for UMID Pay Card" option, and give their consent to share their information with UnionBank.

Next, they must download the UnionBank Online app, which is available on the Google Play Store, Apple App Store, and Huawei AppGallery. They can also visit https://www.unionbankph.com/unionbankonline and or scan the download QR code.

On the app, they need to select the "Open an Account" option, choose "Government ID," click "SSS UMID Pay Card Account," and then click “Agree to the Terms & Conditions and Data Privacy Consent” to continue. After making sure that their SSS information is updated and correct, they will need to complete the form to open their savings account. More details are available at https://www.unionbankph.com/sss-umid.

Upgrading to the UnionBank SSS UMID ATM Pay Card comes with a few perks. Once the free upgrade is completed, funding the account with a minimum of PHP1,000 entitles the owner to a free Jollibee eGC worth P200 and a chance to win a brand-new Mitsubishi Xpander GLS sponsored by UnionBank. Account holders must fund their account on or before Feb 28, 2023 to enjoy these perks.

Because the card is linked to a UnionBank account, users will be able to enjoy fully-featured ATM transactions, as well as digital banking services and advanced features like financial goal setting and payment requests via the UnionBank Online app.

UnionBank has been a long-time partner of the government in the issuance of two-in-one ID and pay cards that have benefited countless Filipinos over the years, and the new UnionBank SSS UMID ATM Pay Card is just one of the many innovative offers that have come from its partnerships with government agencies like the SSS and the Government Service Insurance System (GSIS), to name a few.

To learn more about the UnionBank SSS UMID ATM Pay Card, visit https://www.unionbankph.com/sss-umid.

BENCH Techs-up with UnionBank: Digital payments enhanced in 800+ stores across the nation

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Union Bank of the Philippines (UnionBank) has partnered with Suyen Corporation (BENCH Group) to help the leading clothing and lifestyle brand digitize payments in its more than 800 brick-and-mortar and affiliate stores all over the country, for easier and more convenient transactions for its customers.

The contract signing ceremony between UnionBank and BENCH took place last November 14 at the UnionBank Plaza in Pasig City.

To help BENCH digitize its transactions, UnionBank will be generating in-store QRPH codes that will serve as additional payment channels for shoppers. This will allow them to quickly pay for their purchases without worrying about loose change. They also won't need to use their on-hand cash or fall in line to withdraw cash at ATMs, saving them time.

Because the partnership leverages QRPH's wide range of accepted payment providers through partner banks and popular digital wallets, shoppers can pay for their purchases digitally without worrying about using services or apps they are not familiar with, and simply opt for those that they are already using.

"We believe that the use of QRPH in our offline stores should bring many benefits and convenience to our customers. We want to thank UnionBank for this initiative in tapping us as a partner," said Vice President for Business Development Group of BENCH Bryan Lim.

"This great milestone promises to trailblaze the way we do our business in our respective fields and keep up with the changing needs of our customers," said UnionBank Merchant Acquiring and Payment Gateway Head Gerry Austria. "This is a valuable opportunity to ensure that our customers will have a more enjoyable way of shopping."

Start your 2023 savings journey with Maya, the all-in-one digital bank app!

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Get up to 6% interest p.a. for your savings account

Now is the best time to save your Christmas bonus and kickstart your 2023 ipon goals as Maya continues to give up to a 6% interest rate p.a. on your savings account! 

Maya already offers a high interest rate of 4.5% p.a., with earnings credited daily. It's easy to boost this to 6% on your first P100,000 for the next 30 days! 

All you need is to make your everyday payments with Maya. Simply spend an accumulated amount of PHP 250.00 when completing these transactions until February 28, 2023:  

• Pay via Maya QR code, card, or mobile number 
• Settle your bills via the Maya app 
• Buy load via the Maya app. 

By using Maya to pay for your utility bills or your groceries conveniently, you can boost your savings interest to 6% by another 30 days – so you can grow your money faster! Customers can enjoy this offer until February 28, 2023.

"We want our customers to be able to grow their savings even more just by doing everyday transactions. This is part of our mission to make money management as easy and as rewarding as possible," said Angelo Madrid, Maya Bank President. "On top of offering one of the highest savings interest rates in the market, Maya bundles innovative features and top-notch security so that it becomes the only app you'll need to efficiently and conveniently manage your money." 

With e-wallet, savings, credit, and crypto capabilities, Maya goes by its promise to be 'everything and a bank' for Filipinos. Its latest feature lets you send and receive money via a @username, making transferring funds safer, more personal, and as easy as tagging friends on social media. You can even use GIFs when sending money to friends and family, which is a first in the local fintech app industry. 

If you have specific saving goals, Maya's Personal Goals lets you compartmentalize your savings based on different purposes, be it a dream vacation, emergency funds, or business capital. 

The digital banking services in the Maya app are powered by Maya Bank, a Bangko Sentral ng Pilipinas (BSP)-licensed digital bank. Deposits up to PHP500,000 are insured by the Philippine Deposit Insurance Corporation. The top-rated app also enjoys a 99.9% uptime rate - users can expect their transactions to be seamless with less downtime. 

Completely free to download and register, the Maya app packs a feature-rich e-wallet, an inclusive digital bank, and everything else you need to save, spend, grow, and manage your money—right from your smartphone. 

To learn more, visit maya.ph and follow Maya Center on Facebook and @mayaiseverything on Instagram. 

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About Maya 

Maya is the all-in-one money and digital bank platform bringing Filipinos bolder ways to master their money. It is powered by a unique integrated financial services ecosystem that addresses the ever-evolving financial needs of today's generation through cutting-edge technology.  

Maya leads millions of Filipinos — consumers, businesses, communities, and government agencies alike — into a digital economy that's more inclusive, transparent, and empowering. Maya is powered by the country's only end-to-end digital payments company, PayMaya Philippines, and Maya Bank for digital banking services. 

 

UnionDigital Banks 1.73-M Customers in Four Months, Onboards PDAX as First Corporate Account Customer

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UnionDigital Bank, the digital banking subsidiary of Union Bank of the Philippines, today announced that it has acquired 1.73-M customers, reached US$ 70-M in loan book size, and collected US$ 50-M in deposits from its first four months of operations in the country. UnionDigital Bank has 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,” shared Arvie de Vera, co-founder, President, and CEO, UnionDigital Bank. “The series of milestones that we have been able to achieve is a testament to the strong execution power of the team, in accordance with our community-led business model.”

de Vera further credits this achievement to the Digital Bank’s “laser focus” on the fundamentals: prioritizing the balance sheet.

“As a bank we’re very clear: it’s not just about having a cool app or millions of users who don’t generate revenue - it’s about a balance sheet. It’s about growing the loan book because that’s where the revenues come from- it doesn’t come from payments, it doesn’t come from sign ups. Valuation is great, but it’s not profitability.”

As a subsidiary of the Philippine’s largest techglomerate, UnionDigital Bank’s success in growing its loan book is due in part to its sophisticated use of available data of consumer behavior within the larger Aboitiz ecosystem to create tailor-fit loan products.

“If you’re lending within an ecosystem, you have an anchor community, and that’s a robust way to provide credit because you have more data. Rather than using payments data, which is really not a good proxy for someone’s capacity and willingness to pay. But if you have robust set of data with context on their financial behavior, then you can properly price the risk, because you have historical data on the customer, you know you can give him a customized interest rate. A one-size-fits-all pricing is an inappropriate lending business strategy and sub-optimal consumer experience.”

UnionDigital Bank’s mission to drive financial inclusion begins with improving access to credit to the underserved communities by capitalizing on technology and decades of alternative data from the UnionBank ecosystem to create robust credit models that fit the Philippines.

In yet another milestone, UnionDigital Bank onboarded its first corporate account customer, Philippine Digital Asset Exchange (PDAX), marking the commencement of accumulating corporate account openings at UnionDigital Bank. Following PDAX, UnionDigital Bank aims to expand its partnership base with other leading communities and corporates, following its commercial launch.

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.”

The PDAX corporate account partnership demonstrates how UnionDigital Bank is committed to being approachable to fintechs and regulated institutions by offering products relevant to them, their community, and partners.

“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.

UnionDigital Bank dares to make bold strides that result in direct changes to how Filipinos interact with their finances digitally. A homegrown fintech expert, PDAX, being the digital bank’s first customer is a good start to kick things off, continuing our rally to support our higher purpose of Tech-ing Up Philippines.

The UnionDigital Bank app is now live for a limited set of customers. For now, the app is currently available by invitation only. Future updates on the launch will be available through the digital bank’s social media channels on LinkedIn, Twitter, and Facebook.

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About UnionDigital Bank

UnionDigital Bank is a digital bank entity wholly owned by UnionBank of the Philippines. We are a Bangko Sentral ng Pilipinas (BSP) licensed digital bank that aims to empower the country’s journey towards a fully digital economy. We enable Filipino communities, businesses, and regulators to leverage FinTech, Blockchain, and Open Finance technologies to achieve inclusive prosperity.

UnionDigital Bank is primed to pave the way for the future of finance and for the democratization of access to digital banking and virtual assets, empowering the lives of Filipino communities. Learn more at www.uniondigitalbank.io.

PDAX believes that blockchain technology and digital assets are the key to financial inclusion in the Philippines and can create a level playing field that can empower Filipinos. For more information on PDAX, visit www.pdax.ph.

How to set up an urban farm with limited home spaces

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City dwellers are often removed from the agricultural process that brings food to their tables. But thanks to technology, there's a growing trend of urban farming that is making it possible for people to grow their own food right in their own backyards or balconies.

Professor Vernie Compas signs a copy of his book

Recently, Professor Vern Compas, with support from Bank of China Manila, launched his book entitled “Crafting an Innovative Urban Garden” at the Ascott in Bonifacio Global City, Taguig. The book looks at how city dwellers can now realize small-scale home-based farming technology to produce vegetables right in their own home and small yards.

Known as “Mr. Organic” among his partner farmers and organic farming advocates, Compas has been advocating organic and urban farming, healthy food, food security, and the environment including population and development for already a decade.

Deng Jun, Country Head of Bank of China Manila, and Professor Vernie Compas advocate for urban farming and sustainable development in the Philippines.

As an advocate of development, Compas envisions raising the interest of Filipinos living in an urban setting to become self-sufficient and generate healthy food and income through urban farming technology.

In his book, Compas gives out the following tips for those who want to set up their own urban garden even with limited spaces:

1.     Choose an indoor or outdoor space. For the outdoor garden, choose areas where the morning sunlight can reach your plants. If not, a net can be used to provide shade to minimize heat and moisture. For an indoor garden, it is best to support it with full light spectrum grow lights. These grow lights contain colors that help indoor plants produce chlorophyll and support their germination and growth development.

 

2.     Choose the type of urban farming setup. There are different kinds of urban farming setups based on the available spaces and resources. A hydroponics setup using the Kratky method or Nutrient Film Technique can support planting lettuce in a vertical design. There is also container gardening using recycled bottles, containers, and jars. No matter the gardening model or the plants to be produced, it can all be done with the right technology and skills, available resources, and the commitment of the urban farmer.

 

3.     Proper Watering System. Now, every plant needs water to grow and produce the right yield or harvest. In the case of urban farming, whether soil-based farming or water-system farming, the amount of water should be based on the needs of the plants. In the case of lettuce production through a hydroponics system, much water is required based on the method and technique used. But in soil-based lettuce urban farming production, the drip system makes sure that the soil has enough moisture. There are also available soil-testers, moisture- testers, and water-testers in the market for use in determining the level of moisture, acidity, and alkalinity of the desired growing medium.

 

4.     Proper Fertilization System. Each plant needs fertilization to ensure better growth development, color, and higher yield. However, the use of synthetic fertilizers or synthetic nutrient solutions is not recommended. The author recommends that the urban farmer use an organic nutrient solution as they are also available in the market. Compas highly recommends that the urban farmer learn how to produce their own concoctions from their kitchen waste. The urban farmer can produce Fish Amino Acids (FAA) from fish intestines or bones, Fermented Fruit Juice (FFJ), or Fermented Plant Juice (FPJ) right from their kitchen waste.

 

5.     Effective Pest Management System. As described in the fertilization section, the use of organic nutrients solution has an ingredient that protects the plants from insects, fungus, and diseases. Compas warns against the use of chemical-based pesticides or insecticides as they can contaminate the plant, soil, water, and the air. They can also be harmful to the gardener and the community as a whole.

For Bank of China, supporting Compas is part of its larger mission of embedding Environmental, Social, and Governance initiatives into its activities. According to Deng Jun, Country Head at Bank of China Manila, this is because sustainability is a core long-term strategy at Bank of China. “The Group continues to integrate sustainable development into its overall business development strategy and daily business operations, promoting sustainable development through various innovative transformation and digitalization, green operation initiatives, sustainable finance, and green financial products and services,” he said.

“This book should not be an end in itself,” shared Compas. “The hope is that more people integrate urban farming within their local communities. Together, we can build greener communities and help address the issue of food scarcity.”

“I am very thankful to Bank of China for supporting this advocacy,” said Compas. “I hope that this book inspires others to integrate urban farming within their local communities so that we can create greener communities in the cities of the Philippines.”

 

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About Bank of China

Founded in 1912, Bank of China is China’s most international and diversified bank with operations in over 60 countries and regions around the world where it provides a comprehensive range of financial services to customers. In the Philippines since 2002, Bank of China continues to pursue its mission of bridging Chinese and Philippine trade and investments through corporate banking, personal banking, and financial markets services, facilitating more Chinese investments in key sectors of the fast-growing Philippine economy, and investing in a Renminbi (RMB) transfer system to encourage the settlement of payments in RMB.

Bank of China Manila is the official RMB Clearing Bank in the Philippines.