UnionDigital Bank Poised to Accelerate Growth in Digital Loans with P 900-M Capital Approval from UnionBank

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UnionDigital Bank (UD) secured a capital infusion approval of up to P900 million from its parent bank, Union Bank of the Philippines. This latest additional infusion will help drive the digital bank’s expansion, particularly in digital loans which will soon be launched in the UD app.

This capital boost will enable UD to expand its digital loan offerings via its app and APIs, providing customers with faster access to credit and a seamless loan application process. The capital infusion is still subject to Bangko Sentral ng Pilipinas (BSP) regulatory approval.

“This approved funding indicates UnionBank’s confidence in our strategic growth plan and strong financial performance. We will use this to fuel our growth trajectory and allow us to better serve the financial needs of our customers,” said Henry Aguda, President and CEO of UnionDigital Bank. “Nearly 70% of our customer base comprise of individuals with limited means at the base of the income pyramid - these are the people we want to help and include in the financial system.”

UD also recorded net profits in the first quarter of 2023, driven by its ecosystem-led business model. Moreover, the digital bank’s push towards embedded finance enables new avenues for customers to engage with banking services.

UD kickstarted this with their recent partnerships with mWell, implementing embedded financial services for its 1.5 million customers and 5,000 doctors and health professionals, as well as HUAWEI, tapping into their 7 million customer base and ecosystem of services.

“We have built a strong pipeline of partnerships and are actively scaling up our digital channels to help us diversify our deposit base and loan book,” said Mike Singh, Chief Commercial and Revenue Officer, UnionDigital Bank. “The approved capital will not only improve our financial strength but also unlock a lot of opportunities, especially in driving our mission to improve access to credit for every Filipino, regardless of their location. As we accelerate our digital loan offerings, we will empower more Filipinos to achieve their financial aspirations, wherever they may be.”

UnionDigital Bank is on a mission to bring financial inclusion, uplifting one community at a time. With this in mind, the digital bank is committed to break down barriers that prevent individuals from accessing financial services, empowering Filipinos everywhere to build a secure future.

QC government launches Cohort 2 of Startup QC to aid more business startups

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Recognizing the startup community’s immense potential to stimulate the local economy and bring about positive change, the Quezon City Government is ready to accept applications for a new batch of incubatees or Cohort 2 of the Startup QC Program.

The Startup QC Program aims to create jobs, cultivate the entrepreneurial spirit, promote innovation, and develop the City’s start-up ecosystem by providing qualified entrepreneurs with equity-free financial grants of up to ₱1,000,000. This program is in line with Mayor Joy Belmonte’s vision to make Quezon City the startup and innovation capital of the Philippines.

Backed by esteemed institutions such as the Department of Information and Communications Technology (DICT), the Department of Trade and Industry (DTI), Ateneo de Manila University, Miriam College, Technological Institute of the Philippines, Thames International Business School, University of the Philippines Diliman, and Launchgarage, the Startup QC Program is gaining considerable traction within the Philippine startup community.

For its initial run, five (5) startups were chosen to be a part of the StartUp QC’s first cohort last May 11 at the program’s launch.The five startups are Bamboo Impact Lab, EdukSine, Indigo AI Research, ITOOH Homestyle, and Wika.

“These startup finalists went through an extensive and rigorous application and screening process following a set of criteria that places high standards on innovativeness, creativity, sustainability and social relevance, among others, which I believe reflect the shared values and ideals of our City,” Mayor Belmonte said.

In addition to being eligible for the Php 1,000,000 financial grant, these selected startups have participated in numerous tailored Learning, Engagement, and Development (LEAD) Sessions on a variety of topics to support their respective business goals.

For the second cohort (Batch 2), the application period will be until 5PM of July 12, 2023, For more information about the program, applicants can visit the Startup QC webpage at qceservices.quezoncity.gov.ph.

Xiaomi Wins Institutional Investor's Asia Executive Team Awards for the Fifth Consecutive Year

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Xiaomi Corporation (“Xiaomi” or the “Group”, stock code:1810), a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an Internet of Things (IoT) platform at its core, has been awarded by Institutional Investor, a renowned international financial magazine, in multiple categories of Asia Pacific (Ex-Japan) Executive Team Awards for the fifth consecutive year.

In the Technology Hardware sector, Xiaomi wins awards in the "2023 Asia Pacific (Ex-Japan) Executive Team", including Best CEO, Best CFO, Best Investor Relations Professional, Best Investor Relations Program, Best ESG, and Best Board. This is the second year Xiaomi clinched All-Star status, achieving a first-place in the combined rankings across six categories.

Mr. Lei Jun, Founder, Chairman, and CEO of Xiaomi, ranked no. 1 in Best CEO. Mr. Alain Lam, Vice President, and Chief Financial Officer, ranked no. 1 in Best CFO. Anita Chen, Director of Investor Relations and Capital Markets, ranked no. 1 in Best Investor Relations Professional. The Company also ranked no. 1 in Best Investor Relations Program, Best Investor Relations Team, Best ESG categories, and Best Board. This is the fifth year that Xiaomi has been featured in the rankings since its stock market debut. The results demonstrate that the Company's overall corporate governance and investment relations management capabilities are well recognized by the capital markets.

Mr. Alain Lam, Vice President, and Chief Financial Officer of Xiaomi Corporation, said, “We are truly honored to receive this prestigious accolade, this recognition symbolizes the capital market's substantial acknowledgment of our investor relations and ESG endeavors. We are steadfast in our commitment to fostering open and effective communication with the capital markets, enabling us to adapt to the ever-evolving business landscape. Our unwavering dedication lies in generating enhanced value for our esteemed investors, and esteemed partners across diverse sectors.”

Every year, Institutional Investor magazine asks thousands of analysts, fund managers, and researchers at securities firms and financial institutions to select the best-performing firms and individuals across categories such as Best CEO, Best CFO, Best Investor Relations Professional, and Best Investor Relations Company. Rankings in this year's All-Asia Executive Team survey evaluated companies' performance in the period February 2022 to January 2023. The rankings have become a benchmark for superior corporate governance standards as they are voted on by recognized members within the financial sector, and the rigorous evaluation process ensures the legitimacy of the awards.

This year, a total of 5,660 portfolio managers and buy-side analysts, and 814 sell-side analysts participated in the 2023 Asia Pacific (Ex-Japan) Executive Team survey. The 1,608 companies nominated across 18 sectors this year were rated on core areas, including Financial Disclosure, Services & Communication, and ESG as well as attributes for CEOs, CFOs, and the Best IR Professionals.

Teleperformance march for LGBTQIA+ rights across the Philippines

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Teleperformance (TP), global leader in digital transformation and people experience management, marched along with allies and members of the LGBTQIA+ community on June 24–25 to support the call for gender equality and empowerment. The equal opportunity employer highlighted the slogan, “#FreeToBeMeAtTP,” for Pride March 2023.

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Teleperformance Philippines reported over 1,500 participants attending its various Pride March activities nationwide, exceeding the mobilization goal.

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Teleperformance is the first company and BPO firm in the Philippines to be certified Great Place to Work ® for five consecutive years and a back-to-back recipient of the Philippines Best Workplaces™ award this year.

Doubling down on its commitment to promote safe and empowering environments from the workplace and beyond, TP collaborated with the organizers of Pride PH, Northern Luzon Pride, Mandaue Pride March, and PrideFest Davao to champion the Pride March events held in Quezon City, Baguio, Cebu, and Davao.

TP Baguio delegates pose before marching at the Northern Luzon Pride 2023

Metro Manila delegates with the TP Cloud Campus Jeepney at the Quezon Memorial Circle

TP Cebu IT Park delegates to the Mandaue Pride March 2023

TP Davao delegates marching at the PrideFest Davao 2023

This year, the company recorded 1,500 participants at different Pride March locations in the country, breaking the five hundred mobilization target.

“The great thing about TP Pride is that it’s constantly evolving. So, when our employees have feedback and suggestions on how we can make TP Pride even better, we make sure to implement those things,” said Chief People Officer and Chief of Staff Jeffrey Johson.

“I am really, really proud of TP Pride because this program continues to get better and it continues to see more participation. I look forward to where the future will take us,” he added.

Several of the company’s Diversity, Equity, & Inclusion (DE&I) initiatives like TP Pride, a platform for gender awareness and gender sensitivity, are powered by grassroots advocates from different levels of the organization who regularly gather for learning, support, and community activities such as the annual Pride March across the country.

Aside from the annual Pride March, TP’s support has materialized with the creation of a Health Maintenance Organization (HMO) policy that caters to the particular medical needs of all employees, regardless of gender; and the commitment to advocacies, such as, but not limited to, the development of a comprehensive and industry-recognized HIV awareness program.

Another DE&I initiative, Teleperformance’s TP Women ensure equal representation and opportunities within the company’s workforce. In the Philippines, over 50% of employees are women across the board, including in management positions.

To learn more about Teleperformance Philippines, visit their website at www.teleperformance.com.

PayMongo provides payment gateway for budding startups through its partnership with Founders Launchpad

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Leading Philippine payment gateway, PayMongo Philippines, Inc. has partnered with Founders Launchpad, initiated by AHG Lab - one of the largest independent venture builders in the Philippines, and Draper Startup House - a global community of entrepreneurs. 

Founders Launchpad is a 12-week comprehensive incubation program designed to equip early-stage entrepreneurs with capital, resources to build their product/Minimum Viable Product (MVP), and guidance to be ready for investors. This includes a valuable curriculum, hands-on mentoring, investment support, engaging learning experiences, and ample networking opportunities.

This September, six startups coming from various industries such as HealthTech, CleanTech, EdTech, SaaS and e-commerce will pitch their ideas to regional and international investors - namely Pharmacy Aggregator—MedsGo, Plastic Waste Management Tech—Rezbin, Learning Platform for Standardized Testing—Kippap, Escrow Service for E-Commerce Transactions—Safe, Inventory & Sales Management Software with POS–Itemcount, and Alternative Asset Marketplace–Supafaya.

As a strategic partner, PayMongo will provide startups of this cohort with a secured payment gateway with zero signup fees, setup costs, integration costs, and maintaining balance. The cohort will also receive prime customer and clientele servicing, first access to its upcoming features and releases, and the opportunity to become a design partner in further developing its platform.

“We are definitely thrilled to be part of the growth journey of these creative startups. PayMongo has always supported startups in the Philippines. As a startup ourselves, we look forward to extending this enthusiasm to other aspiring entrepreneurs and founders in the country,” said PayMongo’s CEO, Jojo Malolos.

Mr. Malolos is also set to give a workshop to the graduates of the incubator program as part of their mentorship initiative. The participants of the program will also have a chance to visit PayMongo’s office to gain a deeper understanding of their curriculum and the work PayMongo does.

“We believe that having a reliable payment gateway partner like PayMongo is critical. At Founders Launchpad, we focus on supporting tech startups. Therefore, an easy-to-use and feature-rich payment partner is highly beneficial to our founders. We are very excited to have established partnerships with companies like PayMongo to offer more tangible value to the startups we work with,” said Simon Bauer, the Program Lead of the Founders Launchpad and Partner of AHG Lab.

AHG Lab is the largest independent Philippine Venture Builder focused on empowering founders and leaders to build groundbreaking startups that digitally transform the Philippine economy, catalyze positive change in various industries, and enable sustainable growth. Draper Startup House Manila is an international chain of hostels providing an access point to a global community of innovators and entrepreneurs.

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PayMongo Philippines Inc. is a Filipino-led payment gateway startup that allows businesses to easily accept online payments from their customers online via credit/debit card (straight/installment payments), buy now, pay later platforms, e-wallets, online banking, and over-the-counter payment establishments. PayMongo is a registered operator of payment systems regulated by the Bangko Sentral ng Pilipinas (BSP) while its subsidiary, PayMongo Payments, also holds an electronic money issuer license from the BSP.