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Technology

Bonds.PH app makes bond investing easy for unbanked

Union Bank of the Philippines President and CEO Edwin R. Bautista says the Bonds.PH mobile app will benefit every Filipino.
Union Bank of the Philippines President and CEO Edwin R. Bautista says the Bonds.PH mobile app will benefit every Filipino.

Have you ever thought of investing in retail treasury bonds? Now the Bonds.PH mobile app makes it easy for every Filipino, even the unbanked, to do so for as low as US$100.

The Philippine Bureau of the Treasury (BTr) is the first in Asia to launch an app for the distribution of retail treasury bonds enabled by Distributed Ledger Technology (DLT).

“The launch of Bonds.PH paves the way for all Filipinos, particularly the unbanked, to easily and affordably invest in the BTr’s newest retail treasury bond, RTB-24 or the Progreso Bonds. The mobile app presents a compelling opportunity for all to invest and help the Republic raise funds for economic recovery and COVID-19 response,” Philippine National Treasurer Rosalia V. De Leon said in a press statement.

The launch was made possible in partnership with Union Bank of the Philippines (UnionBank) and Philippine Digital Asset Exchange (PDAX).

“This is the first retail treasury bond issuance to leverage on blockchain technology in Asia, and likely the world. The Philippines is ready to lead the way into the future and tech up the nation with innovative, inclusive opportunities, powered by emerging technologies, for the benefit of all Filipinos,” said UnionBank President and CEO Edwin R. Bautista.

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Technology

Bank On Wheels: UnionBank brings digital branch to you

Henry Aguda, SEVP, Chief Technology and Operations Officer, and Chief Transformation Officer of UnionBank, says Bank On Wheels is a moving version of of their fully digital bank branch called The ARK.
Henry Aguda, SEVP, Chief Technology and Operations Officer, and Chief Transformation Officer of UnionBank, says Bank On Wheels is a moving version of of their fully digital bank branch called The ARK.

Find it a hassle to go to your bank branch, especially during this community quarantine? With Bank On Wheels, UnionBank of the Philippines has been bringing the branch to its customers.

Bank On Wheels is the country’s first 5G mobile banking kiosk. UnionBank launched it shortly before the announcement of the enhanced community quarantine (ECQ). This was actually serendipitous, according to Henry Aguda. Aguda is UnionBank’s SEVP, Chief Technology and Operations Officer, and Chief Transformation Officer.

“Our president and CEO Edwin Bautista has always envisioned a modern and smart rendition of a mobile banking kiosk. A moving version of our fully digital bank branch which we call The ARK. This idea has come to fruition, with our very own Bank On Wheels launched last March 6 at one of our busiest branches in Quezon City,” Aguda told Digital Life Asia.