PSBank Pre-Owned Auto Mart moved to its new location in Taguig

PSBank’s Pre-Owned Auto Mart recently transferred to its new site and officially opened at 8003 Lands R Us Realty Compound, Manalac Ave., Bagong Tanyag, East Service Road in Taguig City, on May 30.

The new Auto Mart, which sits on a total lot size of 10,900 square meters, has a showroom with a wide range of quality pre-owned vehicles including some of the latest SUV, AUV, and sedan models that are competitively priced to suit every budget and taste. It will also have a well-appointed sales office, the construction of which is currently underway. Meanwhile, a temporary sales office was set up where customers can conveniently transact with sales representatives or use the PSBank e-Bid kiosks installed, another way for them to view, select, and place their bid offer on an array of exclusive pre-owned cars for sale without much hassle.

Capital Finance International (CFI.co) names UnionBank this year’s Best Digital Bank in Southeast Asia

Union Bank of the Philippines (UnionBank) further solidified its reputation as one of the leading digital trailblazers in the Asia-Pacific region after being named this year's best digital bank among its peers in Southeast Asia by global economics, business and finance publication Capital Finance International (CFI.co).

CFI.co named UnionBank "Best Digital Bank – South East Asia 2022" for its exemplary performance within the past year, highlighting several of the Bank's numerous achievements that have defined the said year and set it apart from its competitors not only in the Philippines but in neighboring countries in the region.

One of UnionBank's milestones that was highlighted by CFI.co for the award was its acquisition of Citi's consumer banking business in the Philippines, where both banks promised "a seamless transition and zero changes in service" with some 1,750 Citi employees joining UnionBank "upon close of the transaction, with expected completion in the second half of 2022."  UnionBank is widely recognized to be the leading digitally transformed and most innovative bank in the industry, which will ensure that it will deliver the same superior customer experience that Citi clients are used to. 

Pru Life UK launches critical illness protection plan for Filipino families

A first in the market to cover up to four family members in one policy

Leading life insurer Pru Life UK launches PRUHealth FamLove, a protection plan that shares the critical illness coverage to up to four family members in one policy, a first-of-its-kind product in the market. This is available for all Filipino families, including same-sex or common-law partners, parents, and adoptive children.

PRUHealth FamLove is a yearly renewable protection plan that provides long-term coverage until age 85 (applicable when the premium is continuously paid), against high treatment and hospitalization costs due to critical illness.

According to a 2019 study by Mercer Marsh Benefits*, critical illness cost in the Philippines is the second most expensive in South East Asia. Lung cancer treatment costs can lead up to Php 2.78 million, stroke is for Php 1.8 million, while a heart attack is for Php 980,000**.

Earn more with EastWest’s USD Savings and Time Deposit accounts

Enjoy one of the highest interest rates on US dollar deposits in the Philippines with an EastWest account

Whether you’re saving up your US dollars for a future trip, or using them in other ventures like putting up your own business or keeping them in your portfolio for versatility and diversity, you’ll be glad to know that you can reclaim some more financial power by putting those dollars to work and making it earn more than just leaving it in a non-interest bearing dollar account.

That’s why EastWest has just the right US dollar deposit products for you with the US Dollar Savings and Time Deposit accounts. You can open an EastWest US Dollar Savings account with a minimum opening balance of only US$200.  At US$500, you can start enjoying an interest rate of 0.125% p.a., which is one of the highest interest rates for USD savings among banks in the Philippines.

Teach your child to effectively manage their money

EastWest fosters financial literacy with these helpful tips and tools

Managing your finances takes effort and consistency, which pay off when you become financially stable during any situation. These days, it is more crucial than ever to be on top of your finances—to survive and even thrive financially during challenging times.

Financial literacy advocate and EastWest SVP and Head of Regional Branch Banking Ivy Uy stresses the importance of managing money efficiently starting at an early age. “We need to take what we know now and teach it to the next generation, and this includes how to be money smart,” she said. “We can start by teaching our kids how to save money—establish the mindset of saving for the future and develop the habit.”

City Savings Bank appoints new Chairman of the Board, ramps up digital transformation to strengthen services to underserved segment

City Savings Bank (CitySavings), the thrift subsidiary of Union Bank of the Philippines (UnionBank), is strengthening its digital transformation as part of its vision to help people with moderate means.

This comes alongside the appointment of UnionBank’s Chief Technology and Operations Officer and Chief Transformation Officer, Henry R. Aguda, as its new Chairman of the Board, whose expertise is expected to boost CitySavings’ digital transformation initiative.

“Henry brings with him a wealth of expertise that was also instrumental in UnionBank’s successful digital transformation. With his appointment as its new Chairman, we are confident that CitySavings will be able to go further in its transformation journey, allowing it to cater to the underserved segment much better,” said Larry Ocampo, CitySavings President and CEO.

"CitySavings has been helping many of our kababayans through accessible financing options, and our priority is to bring these loans to even more potential customers by optimizing the Bank's existing customer touch points and the infrastructures that support them, powered by artificial intelligence (AI) models created by our Data Science and AI Team," Aguda said.

Home Credit partners with Manila Broadcasting Company, PraXis for on-air financial literacy program

[From L-R] Jomai Parroco, Manila Broadcasting Company VP for Sales; Atty. Rejie Jularbal, MBC VP for AM Operations/Legal; Jun Nicdao, MBC President; Ken Lerona, HCPH head of PR; Gladys Basinilllo, PraXis CEO; Santi Elizalde, MBC AVP for Sales

As the local economy continues to recover from the economic and financial impact of the pandemic, Filipinos have become more conscious of their financial health. The pandemic pushed Filipinos to be more financially responsible and find better ways to manage their money to achieve a better quality of life.

UnionBank GlobalLinker Online Academy holds webinar on market opportunity discovery for MSMEs

UnionBank GlobalLinker (UBGL) Online Academy — a joint initiative of UBGL and the Retail Academy of the Philippines (RAP), recently held a free webinar for micro, small, and medium enterprises (MSMEs) to impart knowledge that will help them thrive especially in the digital age.

RAP President and Founder Eric Caeg was the main speaker. His presentation, titled "The Market Opportunity Navigator: Steps for Discovering Your Most Valuable Market Opportunities" talked about how entrepreneurs can identify and assess these untapped markets to grow their business. 

“MSMEs really are the key in ensuring the steady recovery of our economy in the next few years. Clearly, we must all work together in creating an environment where they can succeed,” said Jaypee Soliman, VP and CXG-SME and Micropreneurs Segment head, UnionBank.  “The UBGL Online Academy is all about championing education and growth for the Filipino MSMEs, and this webinar is just the beginning of an exciting journey with us,” adds Soliman.

Allianz PNB Life renews partnership with World Wide Fund for Nature

Allianz PNB Life reaffirmed its commitment to sustainability and securing Filipinos’ futures by renewing its partnership with the Kabang Kalikasan ng Pilipinas Foundation, Inc. (KKPFI), also known as the World Wide Fund for Nature Philippines (WWF-PH). The two organizations signed a Memorandum of Agreement (MOA) last May 11, Wednesday.

Present at the MOA signing were Allianz PNB Life’s CEO and President Alexander Grenz and Chief Marketing Officer Gino Riola, alongside WWF-PH’s Executive Director Katherine Custodio and OIC for Resource Generation and Partnerships Cloda Marie Urquico.

KKPFI is a non-profit organization under the WWF involved in the conservation and preservation of the environment in the Philippines. It aims to promote corporate social responsibility by forming strategic partnerships with corporations that share the same social awareness, such as Allianz PNB Life.

Finance for all: GCash, Generali Philippines team up to bring insurance products to more Pinoys

GCash, the country’s number one mobile wallet, has teamed up with Generali Philippines to offer four affordable insurance packages on GCash’s GLife feature, in line with the super app’s mission to continue providing safety and convenience to Filipinos.

GLife is the super life mini app within GCash that offers food, groceries, gadgets, fashion, beauty products, and now insurance to help Filipinos secure their health and finances, especially amid the pandemic.

GCash users can now avail of Generali’s four insurance packages via GLife for as low as Php270.

“We are proud to have this partnership with Generali Philippines to make insurance and financial freedom accessible to all. This new partnership reflects our commitment to help the country achieve financial inclusion by offering affordable products to help Filipinos protect their future and improve their lives especially during these trying times,” said GCash President and CEO Martha Sazon.

For just Php270, the GenProtect Basic 50 offers Php50,000 worth of personal accident benefit, Php5,000 worth of accidental medical reimbursement benefit (if cause of hospitalization is an accident), and Php500 daily hospital accident benefit for up to 14 days. This package also comes with the 24/7 Call-A-Doc telemedicine service so users can consult with a medical professional with up to three calls anytime, anywhere.

UBX bags Best ATM Project Award at the 2022 Asset Triple A Digital Awards

UBX, the leading open finance platform in the Philippines, bagged the Best ATM Project Award at the 2022 Asset Triple A Digital Awards for its groundbreaking Mobile ATM Solution, which empowered financial institutions and community-based financial services providers to provide ATM solutions to far-flung areas during the pandemic. 

Operated under UBX’s banking-as-a-service platform and community - i2i, the Mobile ATM solution was developed to provide safer access to government cash assistance projects such as 4Ps and SAP in remote areas. It also created an additional source of income for small businesses that were successfully onboarded as cash agents. 

‘Your partner in life’: Allianz PNB Life promises a secure future for Filipinos

Filipinos have always had a tenuous relationship with health. The biggest reason for this is, simply put, poverty - many Filipinos do not want to burden their loved ones with the financial stress of dealing with health concerns, or they need to prioritize other things, such as basic necessities. Unfortunately, this means many ignore symptoms of illness, which may lead to serious complications down the road.

In 2021, 23.7% or 26.1 million Filipinos were reported to be poor, and this was primarily due to the effects of the COVID-19 pandemic. Many were caught financially unprepared for lockdowns, or worse, their loved ones catching the virus and needing treatment. Filipinos could no longer ignore even the mildest symptoms out of fear that it may be COVID-19. Health and financial security became the biggest concern, and that led Filipinos to one of the things they used to overlook - insurance.

The Philippines saw an increase in people availing or renewing their insurance premiums during the pandemic. The Insurance Commission (IC) reported a 5.9% growth in total premiums, and this was because Filipinos were becoming more self-conscious about their health and being prepared for the future.

“It is very important to have one, especially at this time. You’ll never know when your health is at risk,” said one insurance user. “I've personally experienced borrowing money from friends because one of my family members got hospitalized and our savings was not enough.”

Many Filipinos are registered to PhilHealth. In fact, the organization reported in 2020 that it had nearly 95 million Filipinos covered by its insurance policies, whether as members or dependents. Unfortunately, that still leaves 15.2 million Filipinos without coverage, and even those who do, admit that they only have PhilHealth because it is an employment benefit.

Josephine Gotianun-Yap and daughter Isabelle Gotianun Yap on motherhood, career, and everything in between

“To the world, you are a mother, but to your family you are the world.”

The popular quote rings true for moms, even when they don’t see it themselves. A mom might be swimming through a perpetually hectic work schedule or overwhelming uncertainties. But more often than not, what her family sees is a strong, beautiful woman who sets her personal challenges aside to put them first, being a loving wife and an inspiring role model to her children.

Two moms who surely embody this definition of motherhood are mother-daughter tandem Josephine Gotianun-Yap, who is at the helm of the Filinvest conglomerate, and Isabelle Gotianun Yap, who is part of the leadership team of universal bank EastWest. Josephine and Issa are hardworking moms whose naturally maternal qualities have enriched their own families as well as their relationship with each other.

BUx: Businesses stand to benefit from adoption of digital payments

Businesses – especially the micro, small and medium enterprises (MSMEs) – stand to benefit from the adoption of digital payments, as technology enables them to streamline their financial transactions while providing them with greater security and convenience. 

Southeast Asia has seen a boom in cashless transactions within the last two years, as the pandemic forced almost everyone into the digital trend. The Philippines is no exception. More and more Filipino adults, according to the Bangko Sentral ng Pilipinas (BSP), now have access to transaction accounts, pushing digital payment transactions to 26.8 percent in terms of value and 20.1 percent in terms of volume. 

UBX partners with Bayad to beef up bills payment offers

In photo (L-R): Mr. Dennis G. Gatuslao – Bayad Chief Commercial Marketing Officer, Mr. John Januszczak, – UBX President and CEO, Mr. Jaime Garchitorena - UBX Managing Director of Commerce and Payments, and Mr. Lawrence Y. Ferrer -  Bayad President and CEO

UBX, the leading open financing platform in the Philippines, has signed a strategic partnership agreement with Bayad, the country’s authority in bills payment and Meralco’s full service fintech subsidiary.

Allianz PNB Life listed as top four among insurance companies in PH by Insurance Commission

Allianz PNB Life has been listed by the Insurance Commission as the fourth best performing insurance company in the Philippines in terms of Annualized New Premium (ANP) and Gross Written Premium (GWP) for the year 2021.

Allianz PNB Life’s 2021 ANP ranking is four places higher than the previous year, while the company’s GWP ranking rose three slots this year as compared to that in 2020.

Allianz PNB Life President and CEO Alexander Grenz congratulated the men and women behind the company, and said that the company will continue to achieve great heights in the future.

“We are honored to have been ranked fourth in the Insurance Commission’s list of top life insurance companies in the Philippines for our performance last year. As we are also the fastest growing life insurance company since 2020, our ANP sales have improved by 50 percent with an enhanced productivity ratio. This feat encapsulates our mission as a company: to always strive to provide Filipinos the most comprehensive policies with the best possible customer service to give them the assurance that their futures are protected with us,” Grenz said.

Grenz also urged those who are thinking about availing insurance to consider Allianz PNB Life as their partner in life.

Cebuana Lhuillier offers respite to Filipinos with PERA PADALOWEST RATES promo

According to the Philippine Statistics Authority (PSA), the prices of goods in the country continued to increase. This includes cost of food items, electricity, transportation, LPG, and diesel which saw a significant jump amidst the rise of oil prices. 

To offer Filipinos ease, Cebuana Lhuillier announced its PERA PADALOWEST RATES promo, allowing clients to send money anywhere in the Philippines for only P1 for every P100 money sent. The promo is available in any of Cebuana Lhuillier’s more than 3,000 branches across the country. Meanwhile, clients can also send money for free through the micro savings account linked to their eCebuana app to any Cebuana Lhuillier branches; or via branch to branch transactions.

UnionBank honors 5 Supply Chain Community Anchors, 25 future-ready MSMEs in first-ever SME Banking Financial Supply Chain Awards

Union Bank of the Philippines (UnionBank) recently held the first-ever SME Banking Financial Supply Chain (FSC) Awards to honor 5 existing Supply Chain Community Anchors and 25 future-ready MSMEs who are all part of the Bank's FSC platform. The awarding ceremony was held via Zoom. 

The SME Banking Financial Supply Chain (FSC) Awards aims to recognize the accomplishments and contributions of UnionBank's existing FSC Anchors and their micro, small, and medium enterprise (MSME) dealers. Aside from industry recognition, the awardees will enjoy various perks, which are all part of the Bank's efforts to support Filipino entrepreneurs. 

UnionBank partners with Asia Pacific College to strengthen security risk management for third-party vendors

In a bid to strengthen its security risk management for third-party vendors, Union Bank of the Philippines (UnionBank) has teamed up with Asia Pacific College (APC) to provide cybersecurity and information security education to these vendors.

Through this joint initiative, UnionBank is enhancing the high standard of information security for its customers’ data.

Through the MSME Business Banking Group and enterprise networking platform UnionBank GlobalLinker (UBGL), the Bank will collaborate with APC in developing training courses centered on security risk management. The courses will be tailored to the nature of services offered by the third-party vendors and their corresponding roles in UnionBank, and will be made available through the UBGL portal.