UnionDigital Bank, a subsidiary of Union Bank of the Philippines, said Wednesday it acquired 1.73 million customers, reached $70 million in loan book size and collected $50 million in deposits in the first four months of operations in the country.
UnionDigital said it achieved double-digit growth in digital loans to mass market communities through ecosystem partnerships powered by UnionBank.
“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,” UnionDigital co-founder, president and chief executive Arvie de Vera said in a statement.
He said that as a subsidiary of the Philippines’ largest techglomerate, UnionDigital Bank’s success in growing its loan book was due in part to its sophisticated use of available data of consumer behavior within the larger Aboitiz ecosystem to create tailor-fit loan products. Julito G. Rada