The Bangko Sentral ng Pilipinas granted UnionDigital Bank a certificate of authority to operate as a digital bank on July 12, 2022.
UnionDigital Bank said in a statement this certificate is the final stage in the three-stage digital bank license application process.
UnionDigital Bank, a subsidiary of Aboitiz-led Union Bank of the Philippines, aims to empower the country’s journey toward a fully digital economy, enabling Filipino communities, businesses and regulators to leverage on financial technology, Blockchain and open finance technologies to achieve inclusive prosperity.
UnionDigital Bank said its app is now live to a limited set of customers. The app is available by invitation only.