UnionBank of the Philippines tapped Now Corp.’s 5G technology for the bank’s digital transformation.
The two companies signed a memorandum of understanding on Oct. 9 to enable UnionBank’s resilient digital transformation with new capabilities and platforms, including the next-generation 5G network technology.
The MOU would allow both parties to undertake co-marketing activities to promote Now’s broadband capabilities including NGN and UnionBank’s digital transformation, as well as technological products and services enabled by next generation networks including 5G which both parties may collaborate on.
“We are excited to work with UnionBank of the Philippines as we co-market the use of next generation networks which includes 5G,” Now deputy chief executive Rodolfo Pantoja said.
“The potential for 5G in financial services would include reduced video lag for real-time video chat and consultations between bankers and consumers, full-power mobile pop-up branches, shift to the cloud for mobile banking, and more accurate fraud detection and cybersecurity,” he said.
Now is currently the country’s largest fixed wireless access broadband provider. Using the pioneering Fiber Air technology, it delivers guaranteed broadband services to enterprises and commercial and residential buildings.