News and Updates

UREKA holds biggest leg of E-Cadets Workshop in Cebu

UREKA held its biggest leg ever of the E-Cadets Workshop in Cebu last December 1, 2017 at the University of San Carlos (Talamban Campus).  
With 357 participants from fifteen pioneering colleges and universities of Cebu, the state-of-the-art venue Michael Richarts Center was filled to the rafters.

The E-Cadets Program – a vital component of the UREKA Forum, UnionBank’s flagship corporate social responsibility project that helps micro, small and medium enterprises (MSMEs) launch their own e-Commerce business - seeks to train college students to expand their knowledge on Digital Commerce, Digital Marketing, Personal Branding, Facebook Ad Placement Marketing, Creating Effective Online Marketing Pitches, Challenges and Opportunities of e-Commerce in the Philippines, and Online Shop Set-up.

“We hope that by empowering you, you become our foot soldiers to put micro, small, and medium enterprises (MSME) businesses online,” said UREKA Executive Director James Ileto.  

DTI’s Chief Trade and Development Specialist Minerva “Mimi” Yap told the students that part of its agency roadmap is to make 100,000 businesses utilize e-Commerce to widen market base and make their companies grow and be hugely successful.

Other special guests who graced the event were USC’s Assistant Vice President for Academic Affairs, Rev. Fr. Roger Bag-ao, SVD; Project Lead of the Carolinian Bridges – USC SEO Tech Hub, Dr. Angelo Cabije; and Ramon Aboitiz Foundation Inc. (RAFI) Senior Program Officer, Elisabeth Baumgart.

Air21 Global’s Business Development Head Mark Joseph Panganiban talked about the challenges and opportunities of e-Commerce in the country, noting that common challenges of e-Commerce include lack of knowledge on how online MSMEs work.

Teaching the students how to create an effective online marketing pitch, Facebook ad placement marketing, and digital strategies were also discussed by e-Commerce Specialist, Eireen Diokno-Bernardo.

Schools that joined the workshop include University of San Carlos, University of San Jose-Recoletos, Cebu Institute of Technology, University of Cebu, Datamex Institute of Computer Technology, Benedicto College, Informatics Institute, La Consolacion College, Saint Theresa’s College, Saint Paul College Foundation, Asian College of Technology, Cebu Eastern College, University of the Philippines, Tisa National Highschool, and STI Cebu.
This project is in line with the Department of Trade and Industry’s (DTI) mandate to deliver 100,000 MSMEs into e-Commerce by 2020 and, at the same time, also helps students to sustain a viable source of income in the future.
 
UnionBank’s Key Partners for the event were the Ramon Aboitiz Foundation Inc. (RAFI) and the University of San Carlos (USC).
Meanwhile, the UREKA Consortium Partners compose of Air21, AMTI, DragonPay, Esquire Financing Inc., Facebook Asia-Pacific, Microsoft Philippines, PanahonTV, PLDT SME Nation, SHOPINAS and Taxumo.


A Shower of Gratitude to Media Friends

To show appreciation for the efforts of friends in media in supporting the Bank’s endeavors, UnionBank held a media appreciation night where members of the media were given a sneak peek at the Bank’s recently one-of-a-kind, pioneering banking branch that aims to provide an innovative and seamless banking experience for clients--The ARK by UnionBank.

As guests stepped into The ARK, located at the Ground Floor of the Insular Life Building in Makati City, they were transported to a place where banking as we know it embarks on a voyage into the future: one that does away with lines and enters the world of touch screen, augmented reality, and digital interaction.

“From the brick-and-mortar branch in Banking 1.0 to today's online banking of Banking 2.0, The ARK is where UnionBank will experiment with Banking 3.0 as we move from transactional spaces to interactional spaces,” says UnionBank President Edwin R. Bautista. “There’s no map to our destination, but our sails are out and the winds are steering us in the right direction.”

The ARK stands as the platform for innovative development and innovative partnerships to flourish.

Instead of having typical tellers, the branch has The ARK Ambassadors on hand, who are specially trained to assist customers through the new digital processes in the Bank as well as answer queries they may have.

“No doubt the next generation is dictating changes upon the banking industry,” says Bautista. “But we also don’t want to isolate clients that have been loyal to us for the past 40 years. We built The ARK so that nobody would get left behind.”

More than 50 media attendees from various print, broadcast and online media platforms were present, which was hosted by TV Host and CNN Philippines broadcast journalist Pinky Webb.

The evening’s celebration centered on the Bank’s recent windfall of awards including Best Digital Bank, Best Universal Bank, Gold Winner for Great Employer of the Year, and Strongest Bank in the Philippines (by Balance Sheet), to name a few.


7 UnionBank branches now LEED-certified

The Bank is keeping its promise to integrate environmental sustainability into its operations with seven of its branches now LEED-certified.

LEED or Leadership in Energy and Environmental Design - is an internationally recognized standard for green buildings that promote a healthy, durable, affordable and environmental practice in building and construction.

Last year, UnionBank became the first bank in the country to earn LEED - Platinum and Gold certifications for two of its branches.

The Platinum certification - the highest LEED rating given by the US Green Building Council (USGBC) - was bestowed on UnionBank’s Olongapo branch.
 
Meanwhile, the bank’s Tacloban branch, which was the first bank to restore operations after the onslaught of Super Typhoon Yolanda in 2013, also became the first bank branch to earn LEED Gold certification.
 
Apart from the two, other LEED-certified UnionBank branches now are in Angeles City, Pampanga (Gold), Batangas (Gold), Bonifacio Global City 3rd Avenue (Gold), BGC 26th Street (Gold) and Cebu Mactan Newtown in Cebu City (Gold).

According to Mahesh Ramanujam, president and CEO of the USGBC, buildings that achieve LEED certification are lowering carbon emissions, creating a healthier environment, and reducing operating costs.

Empowered to advance businesses and communities by practicing sustainable operations, UnionBank is looking forward to the certification of its other ongoing LEED projects in the future.


Bank reaps three awards at the Asian Banker Philippine Country Awards 2017

The Bank took home a total of three awards at the recently concluded Philippine Country Awards 2017, namely, “Best HR System Project”, “Best Mobile Banking Project”, and “Credit Card Product of the Year”, during the awarding ceremony held last October 6 at the Fairmont Makati.

The “Best HR System Project” was awarded to the Bank, together with its technology partner Oracle, for implementing a cloud-based human resources management system that allowed the company to automate its critical functions. It also allowed the Bank to integrate its HR records with its talent management process, providing real-time information to managers, improving employee self-service data management, and enabling digital learning.

This resulted in a significant decrease in manual intensive processes and improved the efficiency of HR tasks. It also streamlined and automated the HR processes, real-time data and visibility into direct reports.

The “Best Mobile Banking Project” award was given to UnionBank, together with partners Tagit, Daon and Interblocks, via its EON mobile app, which has a know-your-customer (KYC) feature that activates without the customer needing to visit the bank. The app also added a new layer of security for users with through facial recognition, a feature that was pioneered by UnionBank in the country.

Shortly after launching the app, the bank saw an increase of 8% for its customer base with an active rate of 60%. This also led to a rise in transaction processing through the app, and shortened the processing time for opening accounts.

The Credit Card Product of the Year award was given to UnionBank for its GetGo Credit Card. Launched in partnership with Cebu Pacific, the card allowed the Bank to leverage on the predominantly millennial customer base of its partner airline. The Bank was also able to deliver on its product’s promises by integrating new technologies, which allowed the bank to improve customer experience and the operational efficiency of its services.

Within seven months after the roll-out of the card, UnionBank was able to achieve its target number of cardholders for the period. The success of the product was also apparent in the bank’s strong financial performance at the credit card business front.

The Asian Banker - Philippine Country Awards brings together key decision makers in the financial services industry in the country.

UnionBank President and incoming CEO Edwin R. Bautista (5th from left) with the UnionBank group at the Awards Dinner and Ceremony of The Asian Banker Philippine Country Awards.

SVP and EON Banking Group Head Paolo J. Baltao received the “Best Mobile Banking Project” award for the Bank, together with technology partners, Tagit, Daon and Interblocks.

Receiving the “Best HR System Project” award for the Bank is SVP and HR Director Michelle E. Rubio, joined by HR Business Partner Hannah Contreras, Learning and Development Head Gladys Ocampo, and Talent Management Team Lead Daisy Alvior, together with technology partner, Oracle.

The “Credit Card Product of the Year” award for the Bank was received by Product Manager - Credit Card Business Ma. Patricia Apostol, together with Deputy Center Head for Consumer Finance and Chief User Experience Officer Ana A. Delgado, and Consumer Finance Center Head, SVP Manuel G. Santiago, Jr.


Third Quarter Storm of Awards

The third quarter of 2017 has ushered in a storm of awards for the Bank from various international award giving bodies.

UnionBank is Philippine’s Strongest Bank (by Balance Sheet) for 2017
 – Asian Banker

Due to its exceptional balance sheet and strong financial results, UnionBank was recently judged as the "Strongest Bank in the Philippines" and "one of the 500 Strongest Banks Worldwide" for 2017, according to The Asian Banker.

The distinct recognition was conferred on the Bank during the 2017 SIBEX (organized by S.W.I.F.T.) Annual Conference in Toronto, Canada last October 17, 2017.   UnionBank SVP, Transaction Banking Center Head, John Cary Ong received the award on behalf of the Bank.

The Bank holds the top-spot among Philippine banks in this year’s Asian Banker 500 (AB500) "Strongest Banks in terms of Balance Sheet" – an annual comprehensive assessment of the financial and business performance of the commercial banking industry in the Asia-Pacific, Middle East and Africa regions.

Winners in the AB500 are determined using a quantitative scorecard, on a scale of 0 to 5, based on six (6) crucial performance indicators, namely scale, balance sheet growth, risk profile, profitability, asset quality and liquidity.  Main sources of data include bank annual reports and statistics provided by central banks or industry associations.

Importantly, the "Asian Banker 500" ranking is widely followed by investors, analysts and the media as the leading source to assess the financial strengths of commercial banks in the region.
                                                                                                     
The Bank consistently ranks among the Top 3 listed banks in the Philippines in terms of profitability and cost efficiency ratios.  In 2016, UnionBank posted 16.30% return on equity(ROE), 2.20% return on assets (ROA) and 46.40% cost-to-income ratio.
         
For the first half of 2017, it recorded 12.70% ROE, 1.60% ROA and 52.90% cost-to-income ratio. These figures are well above the banking industry averages of 9.79% ROE, 1.17% ROA and 64.18% cost-to-income ratio.

It osted two consecutive years of record growth in customer loans and expanded at a rate that is twice that of the industry.

It’s total loans grew by 29% and 31% in 2015 and 2016, respectively, versus the industry’s 13% and 17% growth for the same years.  Meanwhile, as of June 2017, UnionBank’s loans increased by 32% year-on-year to P265.3 billion from June 2016’s P201.7 billion.

According to The Asian Banker, banks in the Philippines continue to exhibit stability and healthy competition amid the flourishing economy.

Capital Finance International (CFI.co - London) awards the Bank as Best Universal Bank – Phl 2017
 
The Bank has cemented its status as a leading bank in the country after it was conferred the Best Universal Bank Philippines 2017 Award by London-based print journal and online resource Capital Finance International (CFI.co) last Oct. 4, 2017.

Each year, CFI.co seeks out individuals and organizations that contribute significantly to the convergence of economies and truly add value for all stakeholders.

The CFI.co judging panel’s findings described UnionBank as a bank “that proactively hunts the best and brightest to preserve and expand its leading edge” and as a financial services provider “known and respected for its can-do attitude to the business.”

The judges lauded the bank for recognizing the value of a highly trained and experienced workforce who are able to “not just think outside the proverbial box, but shatter it” as it took the unusual step of inviting white-hat “hackers” (IT students and professionals) for a series of seminars via <U>HACK & PL@Y series, in which they face challenges in e-commerce or SME tools and how to incorporate new technology solutions in banking.

“We have a unique strategy of leveraging on our institutional and corporate customers by harnessing technology to build ecosystem solutions, and we really take this seriously.  The whole bank strategy is built around this,” UnionBank president and COO Edwin Bautista said in his interview with CFI.co.

The CFI.co judging panel noted that UnionBank also maintains a vast recruitment program directed at finding – and hiring – the best math and science majors at universities.

Reporting from frontlines of economies on the move, CFI.co realizes that best practice is to be found throughout the world. The awards program aims to identify and reward excellence wherever it is found, and inspire others to further improve their own performance.

CFI.co recognizes that the traditional distinction between emerging and developed markets is now far less meaningful as world economies converge.

Headquartered in London, the world’s most multicultural city, CFI.co covers and analyses the drivers behind that change. Combining the views of leading multilateral and national organizations with thought leadership from some of the world’s top minds – CFI.co’s dedicated editorial team ensures that readers better understand the forces influencing and reshaping the global economy.
                                 


Asiamoney proclaims UnionBank as BEST DIGITAL BANK – PHILIPPINES at the 2017 Banking Awards

UnionBank has definitely made an indelible mark as an industry leader in digital banking when Asiamoney awarded UnionBank as “Best Digital Bank – Philippines” at the recently concluded Asiamoney Banking Awards 2017 held last September 26 at The Ritz-Carlton in Beijing, China.

According to Euromoney.com, “It’s rare to find a lender that saw the potential in the digital world early – and got it right. Most countries boast at least one standout lender in this category; when it comes to the Philippines, that lender is UnionBank.”

UnionBank has always been quick to embrace innovation.  Throughout its existence, it has been leveraging technology and innovation in making strides to empower customers.

With technology embedded in its way-of-doing-business, UnionBank is clearly a leader in Philippine digital banking. Most notably, the Bank was the first among its peers to start the first bank website; pioneer online banking in the country, and launch the country’s first electronic savings account.
 
For the past 10 years, the Bank has centralized most of its operations, including majority of its accounting processes.
 
When he assumed his position as UnionBank President and COO in 2016, Edwin R. Bautista said: “We are highly digitized in each of the products like credit cards, the only thing that is not automated is the physical handling of cash but even that we want to move to deposit taking machines.”
 
One of the Bank’s immediate goals is to have a seamless operation in all points of its transaction, so that one can do everything on the phone. “We are not creating new branches… unless we are building branches in the phones,” said Bautista.
 
In early 2017, the Bank launched the new digital banking platform EON, which is an enhanced version of the country’s first electronic savings account in 2001.  Building on the inroads paved by the EON Cyber Account, UnionBank pulled out all stops and strategically niched EON as a truly digital bank, a vital beat in the march towards digital transformation. Being a truly digital bank, EON’s role is now more of an enabler – harnessing best-in-class technology to deliver a truly digital and totally delightful banking experience.
 
UnionBank was the first to introduce the concept of using state-of-the-art face recognition technology instead of the usual passwords which are easily compromised.  For this, the Bank has been granted the patent to “Selfie Banking” and made EON known as the first Selfie Banking in Asia.

Chairman and CEO Justo A. Ortiz believes that in its 35 years of existence, the mission to “transform the bank for the digital economy” is the most revolutionary and gigantic step that the Bank has taken towards enabling its customers via digital transformation.
 
The “Best Digital Bank” award is yet another affirmation that UnionBank is well on its way to fulfilling its vision of reshaping the Bank into a “technology company with banking utilities”, and likewise, maintaining leadership in “Smart Banking” particularly in areas of innovation, customer delight and value-for-money through the creative application of expertise and dedication.
 
“Overall, an impressive suite of digital services from a far-sighted bank,” as published in the Asiamoney article at Euromoney.com
 
 

Receiving the award from top executives of Asiamoney was UnionBank  President and COO Edwin R. Bautista (center). Joining him are EON Group Head SVP Paolo Baltao (2nd from left) and Chief Technology and Transformation Officer SEVP Henry R. Aguda (4th from left).


UnionBank launches first US-dollar risk-based multi-asset Fund in the Philippines

UnionBank has recently launched the very first US-dollar denominated risk-based fund in the Philippines in partnership with top Swiss private bank and global asset manager Lombard Odier.

This fund mirrors the Swiss bank's successful discretionary portfolio management strategy for its private clients all over the world, which it has used for many years. It focuses on managing the risk of the portfolio in order to achieve smoother returns over time.  This risk-based approach is unique in that it focuses on a return target with a risk budget, and is not driven by knee-jerk, short-term reactions to changes in the political, economic and market environment.

“Through this, the investors will have the chance to benefit by being able to access diversified global investment outlets. This fund represents a viable investment option for private clients looking to preserve and grow their wealth not just for current but also future generations,” said Robert Ramos, First Vice-President and Trust and Investment Services Group Head at UnionBank.

"The risk-based investment process seeks to maintain the total level of risk of the portfolio under control, mitigating sharp drops in the markets," added Ramos.

Through the Fund, UnionBank seeks to build portfolios that adapt quickly to periods of economic growth, inflation or downturn. Depending on the way markets move, the Bank can adjust the allocation daily if necessary.

The fund launch was met with enthusiasm by the Bank’s customers.

This is the first of many global investment and wealth planning solutions UnionBank will be offering to its higher end clients.
Last 2016, UnionBank signed a strategic alliance with Lombard Odier to offer holistic investment and family wealth management solutions to onshore private clients in the Philippines.


UnionBank wins GOLD at the 2017 Stevie® Awards for Great Employers

Union Bank of the Philippines (UnionBank) received a Gold Stevie® for Employer of the Year in the field of banking at the 2017 Stevie® Awards for Great Employers held last September 22 at Marriott Marquis Hotel in New York.  

During a gala event last Friday, UnionBank Executive Vice President and Center Head for Strategic Partnerships Genaro V. Lapez received the prestigious award on behalf of Human Resources and the Bank, which acknowledges UnionBank’s continuing efforts to develop numerous innovative programs that help its employees expand and forge their careers in the Bank and become the best versions of themselves.

The award recognizes the world’s best employers and human resources professionals, teams, achievements and HR-related products and suppliers who help create and drive great places to work for.  More than 500 nominations from organizations around the world were evaluated in this year’s competition.

Stevie Award placements in the 35 Employer of the Year categories were determined by a unique blending of the ratings from professionals and the votes of the general public. 

The Stevie Awards, one of the world’s most coveted prizes that was taken from the name Stephen (Greek word for “crowned”), organizes several leading global business awards shows including the prestigious International Business Awards and American Business Awards.

Last year, UnionBank was also recognized as the Best Company to Work For at the Asia Corporate Excellence and Sustainability Awards (ACES) held at Shangri-La, Singapore.

UnionBank was adjudged the best company to work for because of its great culture and strong leadership team, according to ACES.

Team members are encouraged to do their best and are supported in their efforts to succeed.

Apart from this, they also feel a strong sense of belongingness in the organization.

To make sure that UnionBank employees are empowered and up-to-date, the human resource department gives them access to trainings, workplace benefits, perks and a healthy organizational culture.


Photo shows UnionBank Executive Vice President Genaro V. Lapez receiving UnionBank's Gold Stevie for Employer of the Year - Banking in New York last Friday, on behalf of the Bank.


DTI-PTTC taps UnionBank’s UREKA Forum for free e-Commerce seminar at the SME Week 2017

DTI-PTTC taps UnionBank’s UREKA Forum for free e-Commerce seminar

The Department of Trade and Industry (DTI) - Philippine Trade Training Center (PTTC) tapped the UREKA Forum – UnionBank’s flagship corporate social responsibility project – to offer free e-Commerce seminar to students and micro, small and medium enterprises in celebration of SME Week 2017.

The PTTC, an attached agency of the DTI mandated to design and implement training programs on entrepreneurial management and export development, among others, tapped the expertise of UREKA Forum for the e-Commerce seminar on July 18 at the PTTC headquarters along Roxas Boulevard in Pasay City.

UnionBank Vice President and UREKA Executive Director James Morris P. Ileto said they share DTI and PTTC’s goal to empower MSMEs.

“Similar to what we do in our fora, we held a mini-forum at the PTTC headquarters, where speakers and consortium partners shared their knowledge and experiences to the MSMEs. We also had a mini-circuit whereby the MSMEs could activate their online shops within the day,” Ileto said.

The UREKA Forum – the country’s biggest e-Commerce mass conversion program – has activated 1,500 MSMEs since it was launched in October 2015.

Its first forum was held in Baguio City, followed by stints in Iloilo and Davao in 2016 and in Manila last February.

The project supports the DTI’s target to deliver 100,000 MSMEs to e-Commerce by 2020.

Besides having websites and a full-function e-Commerce business platform by end of day, the MSMEs also gain wisdom from experts who are invited to the forum.

UREKA Forum’s consortium partners are leading industry experts Air21, AMTI, DragonPay, Shopinas, PLDT SME Nation, Facebook, among others, as well as government agencies like the DTI, Department of Information and Communications Technology, Department of Science and Technology and Department of Tourism.

The UREKA Special Mini-Forum offered free e-Commerce seminar to students and micro, small and medium enterprises in celebration of SME Week 2017.


Corporate Governance Asia bestows multiple awards to UnionBank at the Asian Excellence Awards 2017

Corporate Governance Asia honored Union Bank of the Philippines (UnionBank) with the Best Investor Relations Company Award for the fourth straight year.  Meanwhile, Chairman and CEO Justo A. Ortiz, Ph.D, has been named anew as Asia’s Best CEO (Investor Relations) in the 7th Asian Excellence Award 2017.  Executive Vice President Genaro V. Lapez, Center Head for Strategic Partnerships, was named Best Investor Relations Professional.

Mr. Lapez accepted the awards on behalf of the Bank at the awarding ceremony held last June 9, 2017 at JW Marriott Hotel in Hong Kong, which was attended by 340 people from 110 companies in 10 countries across the region, including China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam.


UnionBank EVP and Center Head for Strategic Partnerships Genaro V. Lapez receives the awards, on behalf of the Bank, from Corporate Governance Asia Founder, Managing Director and Publisher Aldrin Monsod.



Let's Meet Rafa.. the country's first banking chatbot!

THE COUNTRY’S FIRST BANKING CHATBOT HAS A NAME... LET’S MEET RAFA!

The Bank pioneered the first banking chatbot in the country last April 2017, aiming to deliver instant customer service to clients, 24 hours a day and 7 days a week.  

Initially called UnionBank Digital Experience Customer Service Officer or UDeX CSO, the chatbot takes customer inquiries, and handles general information requests. It helps the customers locate the nearest ATM or branch, and know the latest foreign exchange rate of up to 10 currencies.

Today, UDeX CSO now has a name and a personality.  Let’s meet Rafa!  The story of Rafa started with the vision of creating a customer-centric bank bot that is aligned with the bank’s focus of connecting and enabling communities through Smart Banking.  

Rafa is a personal Smart Banker for all.  

He is assertive and innovative, having a drive for leadership demonstrated by his ability to absorb a large amount of information and make quick and decisive judgements.  

He is a long-range thinker, seeing things from a broad perspective and usually successful at identifying plans to find solutions.

He is outgoing and sociable, energized and stimulated externally by lively and challenging conversations.

In addition to the initial functions of UDeX CSO, Rafa can now help customers who are exploring auto loans and provide them with options to get the Credit Card that best suits them.

@TalktoRafa now!

Rafa can be reached through https://m.me/TalktoRafa or by scanning a Messenger code.


700-strong UnionBankers joins Aboitiz Group goal of planting 9 million trees by 2020

Over 700-strong UnionBankers from all over Metro Manila joined the recent Aboitiz group-wide simultaneous tree-planting activity across Luzon, Visayas, and Mindanao held last July 15 at Brgy. Limao, Calauan, Laguna.

As part of the Aboitiz Equity Ventures, the Bank showed up in full force to demonstrate its support for the group’s flagship environmental initiative and at the same time display the spirit of volunteerism and generosity through its employee-engagement program, GoBeyond Communities.

UnionBank SVP and HR Director Michaela Sophia E. Rubio, who was pleased that UnionBank had the biggest number of team members, said, “The overwhelming participation of UnionBankers in this year’s tree-planting activity is an indication of the employees’ desire to drive change for a better world and their individual pledge to ‘Make Da Diff’ in our communities.”  

On the same day, 3,924 volunteers simultaneously planted 114,007 seedlings across 24 sites all over the Philippines including Laguna, Benguet, Mt. Province, Ilocos Sur, Tiwi, Tarlac, Subic, Cebu, Bukidnon, Davao, Compostela Valley, Agusan del Norte, Iligan City and Cotabato City. This is in line with the Aboitiz group’s goal to plant nine million trees by 2020.

700-strong UnionBankers joined the Aboitiz Group-wide simultaneous tree-planting activity.


Integrated Operations Center raises the bar for bank’s optimized cybersecurity

The Bank is investing several millions over the next few years to future-proof the business.  Its warchest consists of three pillars, namely, people, process, and technology.  UnionBank has invested in and partnered with reputable security experts to implement a defense-in-depth layer of security.

The inauguration of a 24x7 security operations center has raised the bar for the Bank’s cybersecurity.  The Integrated Operations Center (IOC) is a collaborative facility for teamwork and communication among the Bank’s cybersecurity pillars to develop effective security measures and effectively counter constantly evolving cybersecurity threats.  

A situation or war room is stationed in between the Security Operations Center and the IT operations center, which ensures faster collaboration for meetings, conducting conference calls, and tackling any issues, downtimes, and incidents that arise.  The IOC is also responsible for monitoring the performance of systems, servers, and applications, as well as monitor uptime of leased lines.

These security tools are supported by straight-through and streamlines processes to deliver swift execution.  The Bank makes sure that it provides its people with relevant and sufficient security awareness trainings and regular reminders on proper cyber hygiene.  

All in all,  these recent developments will help lead UnionBank toward optimized security for clients and improved incident detection and response, 24 hours a day, and 7 days a week.


The recently-inaugurated 24x7 security operations center to ensure the bank’s optimized cybersecurity.







Union For Life Launches Guaranteed Issue Offer Products

Union for Life, the Bancassurance partnership of Insular Life and UnionBank of the Philippines, recently launched two guaranteed issue products exclusively offered to UnionBank clients.

Insular Life Security: Guaranteed issue for Immediate insurance coverage
Insular Life Security is a guaranteed issue (GIO), multiple pay variable unit-linked (VUL) insurance product which provides lifetime insurance coverage and living benefits that arise from the policyholder’s participation in the performance of Insular Life’s various VUL funds.  As a Guaranteed Issue Offer, applications for Security are accepted and approved instantly as it does not require medical examination, health questions, or a long list of requirements.

Insular Life Bancassurance Chief Executive, Mr. Omar T. Cruz, explains “We understand that some clients do not have the luxury of time to go through the medical procedures that usually accompany large life insurance applications. Rather than missing out on an important financial protection coverage,  they now have the option to get covered subject to certain limits and conditions.”  Insular Life Security provides life insurance coverage equal to five times the annual premium plus the fund value earned by the policy. Funds that the policyholder can invest in include fixed income assets, equities, or a combination of both. 

Insular Life Prominence: Maximize yields while getting covered
Insular Life Prominence is a GIO, single-pay VUL product that gives clients access to a diverse portfolio of high yielding assets while providing life insurance protection.  Coverage is equal to 125 percent of the single premium or the fund value, whichever is higher.  This product is ideal for clients who have a lump sum amount which they wish to grow for future needs like a child’s education, the family’s travels abroad, or for retirement.  The plan also allows additional investment anytime, in the form of a top-up.  A top-up also increases the life insurance benefit. 

Aside from being able to invest in local bonds and equities, Insular Life Prominence opens the door for clients to invest offshore using local currency through the Peso Global Equity Fund.   This fund aims to achieve long-term growth and capital appreciation by investing majority of its assets in instruments whose principal exposure is in income-producing equity securities in markets throughout the world.  Some companies composing the fund include Microsoft, Pfizer, Unilever, Kraft and Telstra.

“These are breakthrough products for the two companies.  The Union for Life brand banks on the close connections, relationship and trust that have been built by UnionBank’s Relationship Managers and Financial Advisers with their clients.  This affiliation, plus the inclusion of life insurance in the product portfolio of the bankers, enable their clients to benefit from the complete roster of product solutions that can address their various financial needs.” says Cruz.   To know more about these Union for Life product solutions, contact your UnionBank Relationship Manager/Financial Adviser or visit www.unionforlife.com.ph

Insular Life is the 2017 Domestic Life Insurer of the Year and UnionBank is the Best Commercial Bank of the Year Philippines 2016.


EON Strengthens its Digital Bank with the Launch of EON Duo

Afraid to use your credit card online? Worry no more with EON Duo
Buy now. Pay later.  Sleep better.

Launch EON as a Digital Bank
Building on the inroads paved by the EON Cyber Account, the first bank account specially designed for digital commerce, UnionBank goes all in and strategically niches EON as a truly digital bank, a vital beat in the march towards digital transformation.  Leaning on the wisdom and insatiable passion of its devout community of users and taking advantage of its agility and access to the latest technology, EON trailblazes innovations and breakthroughs to define and enrich the digital banking experience, future-proofing UnionBank from all comers through the digital front.

EON Launches EON Duo
With co-creation as its ethos, EON is tuned in to the digital consumer – a segment of one, always online, and socially-engaged.  EON boosts ahead with FIRSTS, remodelling the traditional to digital, harnessing best-in-class technology to deliver a truly digital and totally delightful banking experience.

With EON Duo, customers enjoy a digital credit card specially designed to give its customers peace of mind when shopping online, like in Amazon and eBay, or paying for services in apps like Uber and Spotify.

It’s all digital!  The customer’s credit card details are safely kept yet easily accessible through the EON app or logging in to the EON website.  Customers also enjoy on-time paperless billing and real-time alerts.

It’s safe and worry free!  Through the EON app or logging in to the EON website, customers can lock their card at anytime and no charges will be allowed.  Customers can also change their CVV, the three-digit number normally found at the back of a plastic credit card, but unlike a plastic credit card, customers can change it whenever they please with EON Duo.  What’s more, customers can spare themselves of the hassle of unwanted websites and apps charging their account for purchases they didn’t do.  They can come up with a list of trusted webstores and only charges from these stores will be allowed to go through.

When customers get an EON Duo, they also get an EON Lite account free of annual fees.  If they pay their bill using their EON Lite account, their payment is posted immediately.  Of course, they also get their free subscription to My Shopping Box.  With their free subscription to My Shopping Box, they get their own US address where they can ship stuff they buy online.  Once their stuff arrives, they just need to www.my-shoppingbox.com to have their stuff delivered to their doorstep at very affordable rates!

EON Duo is just one of the many cool innovations of the new EON.  To find out more, visit www.eonbankph.com/experience/duo, Facebook /eonbankph, or Twitter @eonbankph.


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1 Make sure that the website address appearing on your browser starts with https://ebanking.unionbankph.com/ and a padlock symbol (🔒) beside it.If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 You can only type in your password or PIN using the virtual keyboard.

3 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

4 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser is Union Bank of the Philippines and has a padlock symbol (🔒) beside it. If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 You can only type in your password or PIN using the virtual keyboard.

3 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

4 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser starts with https://ebanking.unionbankph.com and a padlock symbol (🔒) beside it.If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 You can only type in your password or PIN using the virtual keyboard.

3 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

4 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser is Union Bank of the Philippines and has a padlock symbol (🔒) beside it. If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 You can only type in your password or PIN using the virtual keyboard.

3 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

4 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser starts with https://ebanking.unionbankph.com and a padlock symbol (🔒) beside it.If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

3 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser is Union Bank of the Philippines and has a padlock symbol (🔒) beside it. If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

3 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser starts with https://ebanking.unionbankph.com and a padlock symbol (🔒) beside it.If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

3 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser is Union Bank of the Philippines and has a padlock symbol (🔒) beside it. If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

3 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.