Lessons on Saving: Starting Your Journey to Financial Literacy

A pressing concern

According to a study by Standards and Poor on global financial literacy, the Philippines placed 30th out of 144 countries. In the study, only 2 out of 10 Filipinos correctly answered fundamental financial literacy questions in the study.

It is a nationwide concern, as financial literacy is defined as the capacity to understand and apply concepts that allow one to navigate the economic and financial aspects of life. Without this one is more likely to make financial decisions that can negatively impact their life in the long run. 

Figaro Group partners with UnionBank to help digitize customer payments

Figaro Coffee Group, Inc. (Figaro Group), one of the leading food conglomerates in the country, recently partnered with Union Bank of the Philippines (UnionBank) to help digitize customer payments in its retail restaurants nationwide. The partnership was formalized through a contract signing last May 25 at the Figaro Coffee Cafe at Shangri-La Plaza Mall in Mandaluyong City.

Under the partnership, UnionBank shall provide a QRPh code to Figaro Group, which it can use to collect payments from customers in its more than 150 retail restaurants, expanding its available payment channels. UnionBank shall also provide training to Figaro Group's restaurant personnel to familiarize them with the use of QRPh.

Mid-market segment finds unparalleled value in Ortigas Land’s Olin at Jade Drive

The Philippine property landscape continues to be strong post-pandemic, especially the residential market, according to 2023 studies. Both the middle-income and luxury segments remain buoyant in Metro Manila with foreign and local demand rising.

Ortigas Center, the truest midpoint of Metro Manila and one the long-standing mixed-use districts in the country, witnessed new residential, hotel, and office buildings rising in the recent years. It has strengthened its position to be a preferred location for residential addresses, leisure destinations, and local and foreign business headquarters.

Eastwest's Top Men: Strong Leaders, Gentle Fathers

EastWest CEO Jerry G. Ngo, EVP and Consumer Lending Head Lawrence Lee, and SVP and Head of Marketing Martin Reyes look back on their experiences as fathers

Although it takes a lot of gumption, firmness, and drive to lead and shape a gigantic institution such as one of the Philippines’ most prominent banks, three of EastWest’s top leaders bear their fatherly responsibilities with a tender and gentle touch.

EastWest CEO Jerry G. Ngo, Executive Vice President and Head of Consumer Lending Lawrence Lee, and SVP Head of Marketing Martin Reyes all profess to be easygoing dads at home despite being tough bosses at work. It’s an interesting (not to mention welcome) contrast to how many Filipinos grew up.

“I think I’m fairly easygoing as a parent, as it’s a bit difficult to be a disciplinarian these days,” said Jerry, who has two adult children, a son and a daughter in their 20s. He had traveled all over the world with his family for work, first moving to Singapore in the ‘90s when his daughter was only a year old, so the children were well aware that they had to be somewhat nomadic.

Success in digital transformation lies in “people agenda” – UBX Chairman

True transformation means elevating lives and fulfilling dreams, and not just breaking ground in the technological aspect, according to the chairman of UBX, the leading open finance platform in the Philippines. 

In the latest episode of the Orange Chair, a web series featuring today’s thought leaders and influencers, Henry Rhoel Aguda, who also sits as the Chairman of UBX as well as President and CEO of UnionDigital, debunked the misconception that digital transformation in finance is all about tech.

Is vitamin D worth the hype?

Whether due to long work hours or to escape the hot and humid weather, Filipinos tend to seek shelter indoors as much as they can. The downside to this, however, is a vitamin D deficiency risk. A study revealed that out of 369 randomly selected Metro Manila office workers, 58% were Vitamin D-deficient1. Vitamin D helps keep us healthy in many ways, but how much do you really know about what vitamin D can do for your body, and is it really worth all the hype? 

Let’s take a look at the different health benefits of vitamin D:

Keeps bones, teeth, and muscles healthy. Vitamin D helps the body absorb calcium and phosphorus which are key minerals for bone and oral health. It may also help increase muscle strength, which in turn helps prevent falls and fractures in older people. 

Happy Pet, Happy Life: How to Pamper Your Pet

When pets enter our lives, they become part of our family and home. As they give us immeasurable joy and fulfillment, we ought to give them the same care, value, and commitment as we would with other members of the family.

It all starts with showing them how much you love them, as they can thrive in love and a sense of belongingness the way humans can. Pets become our life partners so we need to do our part to keep them happy and healthy. Here are some ways you can create an environment and lifestyle which are beneficial to both you and your pet.

EastWest puts the spotlight on mom leaders who enjoy the best of both worlds

There’s something about women that enables them to take on the challenge of having a career and family life at the same time. Women—especially mom leaders who play important roles in the companies they work for—possess an inner strength and the sheer determination to be happy and successful both at work and at home.

While all women are definitely valid, professionals who are also moms certainly have a more challenging time, as they need to juggle homemaking and having an active career. These mom leaders thrive because of their solid support system, such as the one they get from working at a supportive organization like EastWest. 

To illustrate their success, here’s a peek at how three of EastWest’s mom leaders have managed to both climb the corporate ladder and raise a happy family.

UBX beefs up financing arsenal for MSMEs, partners with UNO, SEA’s first full-spectrum digital bank

UBX, the country’s leading open finance platform, has entered into a strategic partnership with UNOBank (UNO Digital Bank), Southeast Asia’s first full-spectrum digital bank, to make credit more accessible to micro, small and medium enterprises (MSMEs) nationwide.

Through this collaboration, SeekCap will be able to further support MSME financing, while providing a wider platform for UNO Digital Bank to reach more customers. 

With the alliance, micro entrepreneurs will be able to get financing even in the absence of formal financial data, utilising the combination of alternative data and psychometric scoring, which further democratizes access to credit to provide the necessary capital to expand their business. This initiative is done through UBX’ loans marketplace platform, Seekcap.

PayMongo Chief calls for simpler and more convenient digital financial services in accelerating financial inclusion in the Philippines

PayMongo CEO Jojo Malolos as a panelist at the AI Summit held in Marriott Hotel in Newport, Pasay City on May 10, 2023. 

PayMongo Chief Executive Officer (CEO) Jojo Malolos stressed the importance of knowing your consumers well and identifying the specific needs and circumstances of consumers to achieve financial inclusion, especially here in the Philippines.

Mr. Malolos made this pronouncement as he participated in a panel discussion with his co-experts in the field of fintech to impart ways to create a more inclusive financial system through technology at the first AI Summit in the country hosted by the Aboitiz Data Innovation (ADI).

UBX kicks off digital transformation in City of Calapan, Municipality of Pola

UBX, the leading open finance platform in the Philippines, has kicked off the digital transformation of several local governments under the province of Oriental Mindoro – the first digital province in the country powered by UBX – to promote greater financial and social inclusion. 

Following the official partnership launch with the Provincial Government of Oriental Mindoro last month, the City of Calapan and Municipality of Pola are among the first of its local government units (LGUs) to transition to digital.

Born out of the UBX-led Digital Transformation ng Pilipinas (DigiPinas), a multisectoral initiative for digital transformation in the government, UBX is equipping Oriental Mindoro with open finance technology for payments, disbursements, and loans so it can leverage digital solutions for all government transactions – from tax collections, and application processes, to payments.

UnionBank and PDAX: Future Proofing Financial Service Providers

Union Bank of the Philippines (UnionBank) and the Philippine Digital Asset Exchange (PDAX), Inc. have recently signed a memorandum of agreement (MOU) to forge a partnership that will provide relevant solutions aimed at offering cutting-edge solutions for fintechs, tech companies, digital services companies, MSMEs, and corporate clients of UnionBank through Crypto-as-a-Service.

UnionBank and PDAX held The MOU signing ceremony last took place on April 26 at the UnionBank Plaza in Pasig City. The event was attended led by with PDAX CEO and Founder Nichel Gaba; PDAX Chief Business Development Officer Kenneth Chua; Assistant Vice President - Sales of UnionBank Fintech Business Group (FBG) Andrew Garcia; and Senior Vice President - Corporate Banking Group of UnionBank Angelica Balangue.

Challenging times ahead—are you life-secured?

Achieving life security can mean different things to different people. For some, it can mean having a happy family, a profitable business, or owning a house. For others, it could mean a stable, high-paying job that allows them to live comfortably.

Whatever your definition of life security, achieving this is no simple task—it takes a lot of work, dedication, and focus. What’s more, nobody really knows what the future holds so we must prepare ourselves for anything. Fortunately, there are things you can do to help shape your future for the better. Here are some tips on how you can achieve life security during these uncertain times: