The recent funding will enable Locad to strengthen its logistics engine by building the most extensive and interconnected supply chain network across the Philippines and Asia-Pacific
Reefknot Investments is doubling down in Asia by building regional investments and expanding global startups regionally
Experts have warned national leaders of a possible global recession that’s predicted to hit a third of the world’s economy this year. Although the Department of Finance (DoF) recently claimed that the Philippines may avoid the recession, the Bangko Sentral ng Pilipinas’ (BSP) move to raise policy rates in addressing inflation posts additional challenges to startups and SMEs.[1]
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Through its recently launched agency channel, EastWest Ageas has added three new financial solutions to its roster, giving Filipinos a total of 13 insurance plan choices.
Future Assure, Future Assure Max, and Life Essentials were designed to make insurance more accessible to more Filipinos.
Future Assure is a good option if you’re just starting to accumulate wealth. It’s an investment-linked life insurance policy with a five or ten-year maturity period. With its protection and investment boosters, you can look forward to a more secure future at a significantly lower entry premium.
Future Assure Max is a plan for Filipinos who want to save for their retirement or their children’s college education. With a minimum single payment of P150,000 and the built-in Investment Booster, one can be confident that their future will be maximized over time.
Home Credit Philippines, the lifestyle partner of every Filipino, offers shoppers a buena mano blowout this Chinese New Year. Product offerings such as gadgets, sports equipment, and home appliances are now made more accessible with the lowest interest rates with waived-off last month installment for consistent on-time payers.
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.
With all the different stories of various home seekers, RLC Residences finds itself inspired to share how they shaped the brand’s purpose as seen on their offerings and operations. Hence, the premiere of its Brand Story that was launched during Heart Evangelista’s partnership renewal with the brand.
“Over the years, we at RLC Residences strive to bring to life homes that are attuned to the needs of our clients. And more than that, we wanted to help them create a delightful experience through living spaces based on their needs. This way, they can achieve the life that they envision for themselves and their families,” says Karen Cesario, Marketing Head and Chief Integration Officer.
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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.
Union Bank of the Philippines (UnionBank), through its Artificial Intelligence and Innovation Center of Excellence (AI & Innovation CoE), has strengthened its position as a trailblazer in Data Science and Artificial Intelligence (DSAI) as it reports promising results in developing game-changing client solutions. Consistent with its ‘Tech Up Pilipinas’ advocacy, UnionBank’s AI experimental explorations utilize advanced technologies like speech recognition to better interact with the country’s increasingly digital-savvy users and provide them with a better customer experience anchored on financial inclusion.
Digital Transformation ng Pilipinas (DigiPinas), a UBX-led multisectoral initiative for digital transformation in the government, believes that while the government is treading the right path towards a new digital world, the Philippines has yet to unlock the true potential of its digital economy.
The XCELLERATOR Data Science Development Program is a six-week course, free of charge to all who would participate, designed with the goal of introducing and empowering learners on data science foundations and principles. The program involves a series of hands-on learnings, live remote mentoring through intervention sessions, and a final requirement of a capstone project that participants will need to submit, present and defend. Exemplary participants may qualify for an internship opportunity at the AI & Innovation CoE.
It’s Christmas! This means that many employees will happily receive bonuses this month. Many employees look forward to their 13th month pay and other benefits before the actual holidays start. Plans to purchase gifts for friends and loved ones have been made throughout the year. Lists have been filled and items have been added to online carts to prepare for the upcoming shopping spree. It is easy to think that going all out is the best way to go, but there is an alternative that can potentially be rewarding and profitable in the future. And that’s in setting up savings.
Allotting our holiday funds for savings is a thought that seldom occurs to many of us. But in these uncertain times with the rise of inflation and the surge in prices of basic goods, a second option to shore up savings could be the wise decision. Having backup resources can cover a multitude of emergency needs such as medical, maintenance, and repair expenses. So, if there is an opportunity to receive bonuses in the coming months, it could be prudent to designate an amount for your spending, and the rest for savings or other means.
Multinational pharmaceutical company Boehringer Ingelheim Global Business Services (GBS) Manila recently marked its 5th year in the Philippines with a townhall meet last November 29 at the Grand Ballroom of Crimson Hotel in Alabang, Muntinlupa City.
Originally established as a regional center to provide transactional services in the HR, Finance, and Master Data Management for the APAC region in 2017, the Center grew by leaps and bounds in its Alabang location.
“At UnionBank, we take delivering the best customer experience very seriously. To ensure our products, services and interactions across channels keep on delighting our customers, we make sure we continuously get feedback from them and we work closely with our Data Science and AI counterparts to help us analyze the vast data we get to allow us to keep on providing what our customers love and quickly address those that need improvement,” said Albert Cuadrante, UnionBank’s Chief Marketing Officer.
During the Customer Experience Asia Week 2022 held in Singapore, UBX Chief Operations Officer & Chief Customer Officer Iris Yacat said the key ingredient to a great customer experience is the marriage of online and offline approaches to creating meaningful solutions.
“The pandemic has greatly disrupted how we interact with our customers, resulting in the heightened need for understanding behaviors both offline and online. This means that we have to focus on embedding more services in the online experience by leveraging data to capture and measure feeling and sentiment more quickly and accurately. We then follow through offline by guiding our people on the ground to provide an empathetic experience for our customers,” Yacat said.
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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.
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Annually, insurance company AXA organizes one full week dedicated to sustainability. The AXA Week for Good, the highlight of the purpose-led company’s year-long corporate responsibility activities, aims to celebrate the ability of AXA employees to take positive action by offering their time and skills to support our two sustainability pillars: climate change & biodiversity and inclusive protection.
In the Philippines, the volunteer activities kicked off with two simultaneous events: a meal packing session for the benefit of Rise Against Hunger Philippines, and solar light building in partnership with Liter of Light. Rise Against Hunger is an organization committed to ending hunger and malnutrition, while Liter of Light is a global non-profit organization that provides sustainable and affordable lights to people with limited or no access to electricity.
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Top Officers Rick Pusag and Joey Regala guard the doors of EastWest against cybersecurity and IT threats. Sharing decades of experience combined between the two, they lead the Bank’s Cybersecurity and Information Departments with EVP Rick Pusag as the Technology and Productivity Head and FVP Joey Regala as the Chief Information Security Officer and Data Protection Officer. With Rick Pusag at the helm of systems and infrastructure and Joey Regala manning the gates of cybersecurity, customers can feel at ease knowing that these industry experts are on their side, at all times.
Working Hand in Hand
As cases of bank fraud climb in this challenging climate, EastWest remains vigilant in its efforts to keep the Bank and its customers secure against future attacks. Joey’s group is chiefly concerned with data protection and cybersecurity, while Rick’s group handles the IT infrastructure that both customers and employees interact with—the two collaborate closely together to keep EastWest’s cybersecurity up to date.
“EastWest is constantly adjusting to the cyber terrain, looking for vulnerabilities and mitigating them accordingly,” says Regala. “Our office, the Information Security and Data Protection Office, consistently coordinates with the IT Group to further strengthen cybersecurity.”
Let the good times roll! Pinoys are known to be lovers of food and fun that bring everyone closer. Whether birthdays, class reunions or kiddie parties, Filipinos always make a way to share their blessings and celebrate milestones and special moments with friends and loved ones!
To offer Filipinos better ways to make their wonderful celebrations memorable and affordable, the lifestyle partner of every Filipino Home Credit Philippines expands its services and offerings to Food and Beverages, starting with its partnership with Max’s Restaurant.
The ABF has facilitated several virtual conferences in the last two years, such as the 2020-2021 ABF Retail Banking Conferences and the FSI Conference. This year, the ABF Summit aimed to explore the digitalization of the financial services sector, and cover pressing topics such as fintech, data analytics, and issues that may arise due to this new and rising trend.
Riola, together with the Director of Simon Kucher & Partners Chetan Prakash and Chief Technical Officer of Sompo Holdings Asia Aditya Vardhan Tibrewala, took part in a panel discussion moderated by ABF Publisher Tim Charlton about digitalization in the insurance space. Riola pointed out the low insurance penetration rate in the Philippines and emphasized how utilizing data and technology helps Allianz PNB Life reach more prospects and develop products that its customer base needs.
“Digitalization for us is extremely important in terms of reaching out to customers and prospects. It provides an avenue for stimulating, productive conversations with the customer, fostering interactions with them that are both timely and relevant,” said Riola. “Here in the Philippines, insurance penetration rate is 2%. Because of the pandemic, digitalization ensures that we have more effective ways of reaching our customers.”
Riola further explained how Allianz PNB Life also ensures that its current customers have access to their policies.
Riola also briefly introduced the Vivy app, an all-in-one hub for every customer’s protection and health needs. The app marks Allianz PNB Life’s latest venture into digitalization, allowing the company to bring relevant protection and health content to its users. The goal of the project is to help customers learn about their own health conditions as well as the important role insurance will play in securing their future.
“Technology is a means to an end, not the end itself,” Riola highlighted. “It is a means of getting faster to the consumer, [and] also helps in terms of better understanding the consumers and the policyholders that we already have. We can then improve our services and processes, but more importantly, [develop] new solutions that when we created the product we weren’t already thinking of.”
For more information on the Allianz Healthbox, Allianz Vivy app, and other products and services Allianz PNB Life offers, please visit www.allianzpnblife.ph.
“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.
GCash Travel Master with COVID-19 offers comprehensive coverage for personal accident, emergency medical treatment, hospital cash allowance, travel inconvenience benefits, and COVID-19 protection
It is the fourth product launched under the partnership between Igloo and GCash
Reprise in travel after pandemic lockdowns drive tourism in the Philippines with 85% of the Philippines’ GDP attributable to domestic travel
Lines waiting for buses, jeeps, or trains that seem to not end — you might have been at the crossroads and convinced yourself to stay home instead. That has been the situation for many, more so after the reopening of lives after the long lockdowns.
However, more recently, many Filipinos have turned to bike commuting. It has become a normal sight to see people riding their bicycles around major cities. Despite the country’s unpredictable weather, more and more can be seen pedaling by themselves or even cycling in groups. They ride their bikes both for recreational and essential purposes like staying physically active, running errands, and heading to work.
Through a partnership with ThitsaWorks, a fintech backed by the Monetary Authority of Singapore, UBX will provide the necessary digital infrastructure for international remittances between Singapore and the Philippines via its banking-as-a-service venture i2i.
While many remittance options exist for overseas migrant workers in Singapore, options to reach rural areas where many workers' families live are complicated, expensive, and slow.
The partnership was made official through an agreement signing ceremony last October 26 at the SEAOIL Office in Pasig City. The event was graced by SEAOIL Vice President for Corporate & Consumer Marketing Jayvee Dela Fuente, SEAOIL Senior Manager for B2B Segment Marketing Jonathan Cristobal, UnionBank SME and Micropreneurs Segment Head Jaypee Soliman, and UnionBank GlobalLinker Partnerships Manager Natasha Kosheleva, as well as several team members from SEAOIL and UnionBank.
Earlier this year, BayaniPay contracted with East West Bank, the largest independent bank headquartered in Southern California, to offer Filipino American customers banking services, including a Federal Deposit Insurance Corporation (FDIC) insured checking account. East West Bank joins BDO Unibank, the Philippines’ largest bank; Asian Journal, one of the leaders in the Asian American media industry; and Seafood City, the largest Filipino-owned supermarket chain in the U.S., in BayaniPay’s roster of industry-leading collaborators.
