Categories
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.

Categories
Technology

TrueMoney supports sari-sari stores via Dagdag Puhunan

Sari-sari store owner Amy Garcia is thankful that TrueMoney is giving her convenient access to essential food and non-food products.
Sari-sari store owner Amy Garcia is thankful that TrueMoney is giving her convenient access to essential food and non-food products.

Amy Garcia, a sari-sari store owner for more than two decades, is one of the many beneficiaries of the low touch economy innovations of the award-winning Dagdag Puhunan program of TrueMoney Philippines.

“In these extraordinary times, TrueMoney Philippines accepts the challenge of helping the simple Filipino sari-sari store owner to thrive and survive,” TrueMoney Philippines CEO and Country Managing Director Eugene Go told Digital Life Asia.

TrueMoney, a payments and remittance network, has rolled out Dagdag Puhunan for the benefit of local communities amid the COVID-19 pandemic. In partnership with Unilever, it enables cashless payment for the purchase of essential food and non-food products.

“The sari-sari store is now more important than ever to supply the basic needs of the neighborhood given the mobility constraints and health safety precautions that everyone needs to observe in this time of the pandemic. While online groceries are now gaining popularity, a large number of consumers will most likely spend the money for delivery fees on their basic necessities instead,” TrueMoney Loans Business Unit Head Rocio-An Rentuza said.

Categories
Gaming

ULeague Mobile Legends charity clash gears for Round 2

The ULeague is Union Bank of the Philippines’ inter-company esports league.

Will Round 1 champions SALARIUM emerge victorious again? Or will the ULeague crown a new winner in Round 2 of its Mobile Legends Charity Clash Tournament?

The ULeague is Union Bank of the Philippines’ (UnionBank) inter-company esports league. It is holding the ULeague Charity Clash Tournament, an online competition featuring the popular game Mobile Legends: Bang Bang. This charity clash is organized by UnionBank and its partners. These include the Distributed Ledger Technology Association of the Philippines, Fintech Philippines Association, UShare, and Tech Up Pilipinas Inc.

Round 2 of the tournament is scheduled on July 2-3. All participating companies have pledged a donation which will go towards charities with COVID-19 relief campaigns, including Caritas Manila.

Categories
Gaming

Mobile Legends team of Salarium wins in charity clash

Mobile Legends team of Salarium emerged victorious in the ULeague: Charity Clash Tournament.

The Mobile Legends team of Salarium emerged victorious in Round 1 of the ULeague: Charity Clash Tournament that Union Bank of the Philippines (UnionBank) and its partners launched. This was for the benefit of charities with COVID-19 relief programs, including Caritas Manila.

Their team, also called SALARIUM, defeated the Noob Killers of Dragonpay in the Round 1 finals held on June 11. The organizers will hold the succeeding rounds in the coming weeks.

“We launched our own internal esports tournament early this year as an avenue to foster community and engagement in UnionBank through gaming,” UnionBank Senior Vice President and Head of the Fintech Group Arvie de Vera said in a press statement.

“With the Charity Clash Tournament, we want to build the same community through gaming in the fintech industry, and advocate our value of Ubuntu as we support organizations like Caritas Manila that continue to help out our kababayans during this time of need,” he said.

Categories
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.

Categories
Technology

Digital is the new normal, says UnionBank Chairman

Businesses should think long-term and realize that digital is the new normal, says UnionBank of the Philippines Chairman Justo A. Ortiz.
Businesses should think long-term and realize that digital is the new normal, says UnionBank of the Philippines Chairman Justo A. Ortiz.

The COVID-19 pandemic has forced companies to embrace digital transformation. It would wrong, however, for businesses to think that digital is just a means for survival, or part of their business continuity plan. Instead, they should accept that digital is the new normal.

“Clearly the pandemic has given us a use case for digital. Many corporations — large, small-, and medium-scale — have realized that investing in resiliency is going to be a lot more important going forward. But having said that, we don’t want the idea of digital and digital transformation to be just BCP,” said UnionBank of the Philippines Chairman Justo A. Ortiz.

“I think that clearly there’s a lot of opportunity for digital to be mainstream as our new normal. So it’s not about social distancing and face masks, because there could be other black swans that come down the road. Other pandemics, other natural disasters, and, God forbid, even wars. But it’s important that we basically focus on digital and mainstream it,” he said.

Categories
Technology

Insurtech ’20: Insurance firms must accelerate change

UnionBank Chairman Justo Ortiz at Insurtech '20
UnionBank Chairman Justo Ortiz emphasized the speed of disruption and innovation at Insurtech ’20

Insurtech involves not only using technology to innovate and survive amid disruption in the insurance industry. To effectively compete, companies must adopt a different mindset and embrace the speed of change.

“We are not just dealing with new ideas. We are dealing with the speed at which new ideas turn into old ideas,” said UnionBank of the Philippines​ and Fintech Philippines Association​ Chairman Justo Ortiz at Insurtech ‘20.

Financial institutions are risk-averse because they are in a highly-regulated industry. Since they are not used to speed, banks and insurance firms have to overcome a number of hurdles to innovation. Launching innovative projects could take six to nine months, Ortiz said. At which point, it may already be too late.