&nbsp; Manila, Philippines – June 24, 2024 - MFast and Trusting Social, both leaders in financial technologies, are harnessing Vietnamese tech talents to bring their innovations to the Philippines. According to a 2022 report by DataAI &amp; APPMagic, after the USA, China, and India, apps developed by Vietnam are the 4th most downloaded globally. This is thanks to Vietnam‘s vibrant tech landscape, which has fostered companies like MFast and Trusting Social.&nbsp;&nbsp; Combined, MFast and Trusting Social have
over 300 data scientists, software developers, and IT engineers working on the
latest cutting-edge technology in the financial services and generative AI
spaces.

MFast is the leading digitally-enabled human-assisted sales
agent network in Southeast Asia, while Trusting Social is a full-service
identity, risk, and credit solution provider with more than one billion profiles
across Asia.

In this collaboration, MFast will use Trusting
Social’s advanced KYC system to ensure user security and authenticity.
Utilizing data &amp; AI-driven insights, the system helps to ensure that every
agent onboarded meets the high-quality standards of MFast.

Phan Thanh Long, Co-Founder and CEO of MFast,
remarks, “We are proud to bring our joint technological excellence to the
global scene, starting with the Philippines.”

Tuyen Huynh, Chief Scientist and Co-Founder of
Trusting Social, adds, “Our security &amp; credit technologies have always been
best-in-class domestically in Vietnam, and now, with MFast’s help, we will
continue our journey to become best-in-class regionally across Asia.”

MFast and Trusting Social, leaders in fintech from Vietnam, are collaborating to integrate advanced KYC technologies to enhance user security and expand their operations in the Philippines, leveraging their substantial tech workforce and innovation. <img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/1a8f50a7b9d1fee19b443f9d0959ca4625946c4842b2cbfe1dd215810370ba70/image.png" alt="Image" />&nbsp; Manila, Philippines – June 24, 2024 - MFast and Trusting Social, both leaders in financial technologies, are harnessing Vietnamese tech talents to bring their innovations to the Philippines. According to a 2022 report by DataAI &amp; APPMagic, after the USA, China, and India, apps developed by Vietnam are the 4th most downloaded globally. This is thanks to Vietnam‘s vibrant tech landscape, which has fostered companies like MFast and Trusting Social.&nbsp;&nbsp; Combined, MFast and Trusting Social have
over 300 data scientists, software developers, and IT engineers working on the
latest cutting-edge technology in the financial services and generative AI
spaces.MFast is the leading digitally-enabled human-assisted sales
agent network in Southeast Asia, while Trusting Social is a full-service
identity, risk, and credit solution provider with more than one billion profiles
across Asia.

In this collaboration, MFast will use Trusting
Social’s advanced KYC system to ensure user security and authenticity.
Utilizing data &amp; AI-driven insights, the system helps to ensure that every
agent onboarded meets the high-quality standards of MFast.

Phan Thanh Long, Co-Founder and CEO of MFast,
remarks, “We are proud to bring our joint technological excellence to the
global scene, starting with the Philippines.”
Tuyen Huynh, Chief Scientist and Co-Founder of
Trusting Social, adds, “Our security &amp; credit technologies have always been
best-in-class domestically in Vietnam, and now, with MFast’s help, we will
continue our journey to become best-in-class regionally across Asia.”

Mobile app

Application

Full time job / Part-time job / Career

Credit card / Loan

Startups

MFast and Trusting Social, leaders in fintech from Vietnam, are collaborating to integrate advanced KYC technologies to enhance user security and expand their operations in the Philippines, leveraging their substantial tech workforce and innovation.

MFast and Trusting Social Partner to Bring Vietnam-rooted Innovations to the Philippines

Bacolod City, Philippines – UNAWA debuts UCheck, its groundbreaking Anti-Money Laundering (AML) compliance tool in the 67th RBAP Charter Anniversary Symposium at SMX Bacolod, June 3-5.

The three-day event hosted by the Rural Bankers Association of the Philippines (RBAP) and organized by the Negros Occidental Federation of Rural Banks (NOFRB) marked a significant step in establishing partnerships and showcasing Philippine technology.

Over 380 rural banks gathered at the symposium to discuss pivotal issues and regulatory measures impacting the rural banking industry. The event provided a prime opportunity for UNAWA to network with top rural bankers, exhibit its cutting-edge solutions, and cultivate connections with key stakeholders.

"Our goal is to empower rural banks with the tools so compliance need not to be painful and expensive and so banks can focus on their real work," states Atty. Regina Jacinto-Barrientos.

UNAWA's UCheck, a powerful name-screening tool for effective AML checks, was the highlight of the presentation.&nbsp;

UNAWA’s participation in the 67th RBAP Symposium not only introduced UCheck to rural banks but also showcased the potential of Philippine technology in transforming business operations.&nbsp;

"UCheck empowers businesses to make informed decisions with confidence, offering comprehensive protection with significant ease," says UNAWA COO Atty. Gino Jacinto.

The symposium also featured a significant moment as UNAWA CEO Atty. Regina Jacinto-Barrientos and COO Atty. Gino Jacinto engaged in productive discussions with Bacolod City Mayor Albee Benitez. These discussions emphasized the role of advanced digital solutions in enhancing local business security and efficiency.

‘Make decisions without fear. Achieve freedom from fraud with UCheck’ encapsulates UNAWA’s message. By automating AML checks and providing advanced name screening, UCheck helps businesses mitigate risks and maintain regulatory compliance effortlessly.

For more information about UCheck and partnership opportunities with UNAWA, please visit <a href="https://www.unawa.asia/">UNAWA’s website</a>.

<></>Bacolod City, Philippines – UNAWA debuts UCheck, its groundbreaking Anti-Money Laundering (AML) compliance tool in the 67th RBAP Charter Anniversary Symposium at SMX Bacolod, June 3-5.<img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/2f6ac69d7c62f8b2871917cc64d21054b5db920bdf6a993aff984355d4c0d1c5/Bacolod%20City%20Mayor%20Albee%20Benitez%20and%20UNAWA%20CEO%20Atty.%20Regina%20Jacinto-Barrientos.jpg" alt="Bacolod City Mayor Albee Benitez and UNAWA CEO Atty. Regina Jacinto-Barrientos at&nbsp;67th RBAP Charter Anniversary Symposium at SMX Bacolod, June 3-5." />The three-day event hosted by the Rural Bankers Association of the Philippines (RBAP) and organized by the Negros Occidental Federation of Rural Banks (NOFRB) marked a significant step in establishing partnerships and showcasing Philippine technology.Over 380 rural banks gathered at the symposium to discuss pivotal issues and regulatory measures impacting the rural banking industry. The event provided a prime opportunity for UNAWA to network with top rural bankers, exhibit its cutting-edge solutions, and cultivate connections with key stakeholders."Our goal is to empower rural banks with the tools so compliance need not to be painful and expensive and so banks can focus on their real work," states Atty. Regina Jacinto-Barrientos.UNAWA's UCheck, a powerful name-screening tool for effective AML checks, was the highlight of the presentation.&nbsp;UNAWA’s participation in the 67th RBAP Symposium not only introduced UCheck to rural banks but also showcased the potential of Philippine technology in transforming business operations.&nbsp;"UCheck empowers businesses to make informed decisions with confidence, offering comprehensive protection with significant ease," says UNAWA COO Atty. Gino Jacinto.The symposium also featured a significant moment as UNAWA CEO Atty. Regina Jacinto-Barrientos and COO Atty. Gino Jacinto engaged in productive discussions with Bacolod City Mayor Albee Benitez. These discussions emphasized the role of advanced digital solutions in enhancing local business security and efficiency.‘Make decisions without fear. Achieve freedom from fraud with UCheck’ encapsulates UNAWA’s message. By automating AML checks and providing advanced name screening, UCheck helps businesses mitigate risks and maintain regulatory compliance effortlessly.For more information about UCheck and partnership opportunities with UNAWA, please visit <a href="https://www.unawa.asia/">UNAWA’s website</a>.

Banks / Credit unions

Event

Local companies

Government offices / organizations

UNAWA Debuts Anti-Money Laundering Tool at RBAP Symposium

Manila, Philippines—MFast and Global Dominion are excited to announce a strategic customer origination partnership focused on broadening financial inclusion for all Filipinos nationwide.

MFast, a leading South East Asia sales agent network, initially established in Vietnam by entrepreneur twin brothers: Phan Thanh Long &amp; Phan Thanh Vinh, has gained recognition for its innovative digitally-enabled human-assisted approach to servicing the underbanked consumers.

By partnering with Global Dominion, a company celebrated for its accessible loan products and efficient service, MFast continues its mission to empowerevery Filipino, especially those in the provinces, with an income opportunity as well as access to regulated financial products.

The partnership was officially sealed at a signing ceremony attended by senior executives from both companies, including MFast Philippines’ General Manager, Carolyn Rose G. Lao, MFast Philippines’ Marketing &amp; Communications Lead, Jay Padriga, and Global Dominion's Vice Chairman &amp; CEO, Robert B. Jordan Jr., along with President &amp; Managing Director, Patricia Poco-Palacios.

Lao underscored the importance of this alliance, stating, "This partnership is not just about merging our operations; it's about aligning our core values to drive financial empowerment throughout the Philippines, a commitment that we are both deeply dedicated to."

Global Dominion brings to the partnership its robust expertise in financial services, including car and business loan products that cater to a broad demographic. Palacios expressed enthusiasm about the cooperation, noting, "Working with MFast enhances our capabilities to service a wider client base while continuing to provide the financial tools essential for business and personal growth."

This partnership is poised to transform the financial landscape in the Philippines by making financial services more inclusive and accessible, thus fostering economic growth and stability across the country.

Visit MFast's website for more details on its services. To explore Global Dominion's range of financial products, please visit the Global Dominion's website.

MFast, a prominent Southeast Asian sales agent network, and Global Dominion, a renowned provider of accessible loan products, have formed a partnership aimed at expanding financial inclusion across the Philippines.<></><img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/d128d49c2583183b394842457816c8d639604273b63e884cc9c1b88b7d78d709/DSCF3276.jpg" alt="In the photo (L-R): Samuel Cariño (Global Dominion General Manager for Branch Marketing), Robert Jordan Jr. (Global Dominion CEO), Patricia Poco - Palacios (Global Dominion President &amp; Managing Director), Carolyn Rose Lao (MFast Philippines General Manager), Jay Padriga (MFast Philippines Marketing &amp; Communications Lead ), and Quincy Lopez (Global Dominion Partnerships Lead)" />Manila, Philippines—MFast and Global Dominion are excited to announce a strategic customer origination partnership focused on broadening financial inclusion for all Filipinos nationwide.MFast, a leading South East Asia sales agent network, initially established in Vietnam by entrepreneur twin brothers: Phan Thanh Long &amp; Phan Thanh Vinh, has gained recognition for its innovative digitally-enabled human-assisted approach to servicing the underbanked consumers.By partnering with Global Dominion, a company celebrated for its accessible loan products and efficient service, MFast continues its mission to empowerevery Filipino, especially those in the provinces, with an income opportunity as well as access to regulated financial products.The partnership was officially sealed at a signing ceremony attended by senior executives from both companies, including MFast Philippines’ General Manager, Carolyn Rose G. Lao, MFast Philippines’ Marketing &amp; Communications Lead, Jay Padriga, and Global Dominion's Vice Chairman &amp; CEO, Robert B. Jordan Jr., along with President &amp; Managing Director, Patricia Poco-Palacios.Lao underscored the importance of this alliance, stating, "This partnership is not just about merging our operations; it's about aligning our core values to drive financial empowerment throughout the Philippines, a commitment that we are both deeply dedicated to."Global Dominion brings to the partnership its robust expertise in financial services, including car and business loan products that cater to a broad demographic. Palacios expressed enthusiasm about the cooperation, noting, "Working with MFast enhances our capabilities to service a wider client base while continuing to provide the financial tools essential for business and personal growth."This partnership is poised to transform the financial landscape in the Philippines by making financial services more inclusive and accessible, thus fostering economic growth and stability across the country.Visit MFast's website for more details on its services. To explore Global Dominion's range of financial products, please visit the Global Dominion's website.

MFast, a prominent Southeast Asian sales agent network, and Global Dominion, a renowned provider of accessible loan products, have formed a partnership aimed at expanding financial inclusion across the Philippines.

MFast and Global Dominion Partner to Enhance Financial Inclusion for All Filipinos Nationwide

Through this new solution, Netbank provides a dedicated bank account for international remittance companies to facilitate inbound transactions from overseas and local disbursements into different bank accounts and wallets.

Netbank has already partnered with TransferGo, a global payment service provider registered in the United Kingdom, for this solution.

TransferGo was able to facilitate inbound transactions in GBP and USD from overseas and was able to disburse PHP into different local bank accounts and wallets via an Application Programming Interface (API) connection.

Augmante Alisauskaite, Senior Relationship Manager of TransferGo said,

“Despite the complexities of navigating regulatory requirements, the Netbank team demonstrated a high level of expertise throughout the process.

Their approach allowed us to build one of the best products in the market. The innovative approach taken by their team has truly set them apart as a partner.”

Alain Abadiano, Head of International Accounts and Payments Solutions of Netbank said,

“With the large presence of Filipino migrant workers all around the globe, and increasing B2B trade flows, there is a huge opportunity for international remittance companies serving the Philippines.

Netbank is here to provide innovative solutions to these companies and ensure that their business transactions here in the Philippines will be seamless and efficient.”

<h1>Netbank Launches Solution to Ease Remittances to the Philippines</h1>Netbank, a Banking as a Service (BaaS) platform, has launched a solution that allows international remittance companies to facilitate cross border payments into the Philippines.Through this new solution, Netbank provides a dedicated bank account for international remittance companies to facilitate inbound transactions from overseas and local disbursements into different bank accounts and wallets.Netbank has already partnered with TransferGo, a global payment service provider registered in the United Kingdom, for this solution.TransferGo was able to facilitate inbound transactions in GBP and USD from overseas and was able to disburse PHP into different local bank accounts and wallets via an Application Programming Interface (API) connection.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/f43625811963c0cde6e86b3cb88cac29f3747766d381aa0bb4636285e0d5acff/Augmante-Alisauskaite-300x300.jpg" alt="Augmante Alisauskaite"/>Augmante Alisauskaite, Senior Relationship Manager of TransferGo said,“Despite the complexities of navigating regulatory requirements, the Netbank team demonstrated a high level of expertise throughout the process.Their approach allowed us to build one of the best products in the market. The innovative approach taken by their team has truly set them apart as a partner.”Alain Abadiano, Head of International Accounts and Payments Solutions of Netbank said,“With the large presence of Filipino migrant workers all around the globe, and increasing B2B trade flows, there is a huge opportunity for international remittance companies serving the Philippines.Netbank is here to provide innovative solutions to these companies and ensure that their business transactions here in the Philippines will be seamless and efficient.”We give fintechs a total toolkit, so they can focus on their clients and their growth. The same tools allow non-bank networks (pawnshops, MFIs, employers, insurers) to offer complete banking services to their clients. We are excited by seeing other organizations succeed.

Our goal is to allow Filipinos to get safe and reliable banking from the channels and institutions they already trust.Netbank.ph
+6328708-7087
support@netbank.ph

System / Website / Application development

Securities / FX / Investment Trusts

Netbank, a Banking as a Service (BaaS) platform, has launched a solution that allows international remittance companies to facilitate cross border payments into the Philippines.

Netbank Launches Solution to Ease Remittances to the Philippines

This cross-border payment service is part of the e-wallet’s strengthened collaboration and partnership with Alipay+ to offer a seamless and secure payment experience, as well as real-time foreign exchange (forex) with no service fee, allowing customers a hassle-free and rewarding travel experience abroad.

Among the key merchants and stores that can accept GCash via Alipay+ are Harrods, Liberty London, and Harvey Nichols in the UK; Printemps in France; Müller and dm-drogerie markt in Germany; as well as itTaxi, and IVS Group, the leader in the vending machines market, in Italy.

“In line with our fervent commitment to make our customers’ everyday lives better and more convenient, we want to make sure that they can maximize their GCash account not only locally but wherever they are across the world. We look forward to expanding to other markets abroad soon and to partner with even more merchants in 2023,” GCash president and CEO Martha Sazon said.

When paying for your purchases at these destinations, be sure to look for the Alipay+ logo at the checkout. Open your GCash app and select the QR or PayQR button at the bottom of the screen. Scan the merchant’s QR code, or tap “Pay Abroad with Alipay+” to have the merchant scan your generated QR. Then check the amount, and click Pay to see the receipt.

So no need to bring cash or exchange currency for shopping abroad. Just choose the GCash Scan-to-Pay option for your purchases for a smooth and seamless travel experience – all in just a few taps on your phone via the GCash app! For more information, visit https://help.gcash.com/ and click the “How to Pay QR Internationally” topic.

GCash is continuously expanding its international payment touchpoints in partnership with Alipay+. Aside from the European destinations, the Philippine e-wallet can be used to pay in select merchants across Japan, South Korea, Singapore, Malaysia, and Qatar.

It’s also making its services available to more Filipinos worldwide as the GCash app can now be used with international numbers in the US, UK, Canada, Japan, Italy, and Australia.

<h1>GCash users can now go cashless on their next Euro trip thanks to Alipay+ partnership</h1>GCash users can now opt for a hassle-free, cashless payment method on their next Euro trip as the Philippines’ leading mobile wallet is now accepted in Europe’s top travel destinations, including the United Kingdom, France, Germany, and Italy.This cross-border payment service is part of the e-wallet’s strengthened collaboration and partnership with Alipay+ to offer a seamless and secure payment experience, as well as real-time foreign exchange (forex) with no service fee, allowing customers a hassle-free and rewarding travel experience abroad.Among the key merchants and stores that can accept GCash via Alipay+ are Harrods, Liberty London, and Harvey Nichols in the UK; Printemps in France; Müller and dm-drogerie markt in Germany; as well as itTaxi, and IVS Group, the leader in the vending machines market, in Italy.“In line with our fervent commitment to make our customers’ everyday lives better and more convenient, we want to make sure that they can maximize their GCash account not only locally but wherever they are across the world. We look forward to expanding to other markets abroad soon and to partner with even more merchants in 2023,” GCash president and CEO Martha Sazon said.When paying for your purchases at these destinations, be sure to look for the Alipay+ logo at the checkout. Open your GCash app and select the QR or PayQR button at the bottom of the screen. Scan the merchant’s QR code, or tap “Pay Abroad with Alipay+” to have the merchant scan your generated QR. Then check the amount, and click Pay to see the receipt.So no need to bring cash or exchange currency for shopping abroad. Just choose the GCash Scan-to-Pay option for your purchases for a smooth and seamless travel experience – all in just a few taps on your phone via the GCash app! For more information, visit https://help.gcash.com/ and click the “How to Pay QR Internationally” topic.GCash is continuously expanding its international payment touchpoints in partnership with Alipay+. Aside from the European destinations, the Philippine e-wallet can be used to pay in select merchants across Japan, South Korea, Singapore, Malaysia, and Qatar.It’s also making its services available to more Filipinos worldwide as the GCash app can now be used with international numbers in the US, UK, Canada, Japan, Italy, and Australia.GCash is a Philippine mobile payments service owned by Globe Fintech Innovations, Inc., and operated by its wholly-owned subsidiary, G-Xchange, Inc.support@gcash.com

Cryptocurrency

GCash users can now opt for a hassle-free, cashless payment method on their next Euro trip as the Philippines’ leading mobile wallet is now accepted in Europe’s top travel destinations, including the United Kingdom, France, Germany, and Italy.

GCash users can now go cashless on their next Euro trip thanks to Alipay+ partnership

Tonik said that its seamless onboarding process, wide range of financial products, and innovative services have played a significant role in driving its growth.

Since its launch, Tonik has aimed to provide Filipinos, particularly those previously underserved by traditional banking institutions, with accessible, secure, and user-friendly digital banking services.

The digital bank added that it will continue to innovate and enhance its digital offerings to better serve the diverse needs of the Philippine market.

“We are thrilled to celebrate this momentous milestone, as it stands as a testament to the robust customer-centric model that Tonik has to offer.

Achieving one million onboarded clients in such a short span is a validation of the growing trust and confidence of the Filipino community in our digital banking services.”

said Greg Krasnov, CEO and Founder of Tonik.

<h1>Tonik Surpasses One Million Customers Since Launch</h1>Philippines’ digital bank Tonik announced that it has onboarded over one million customers since its inception.Tonik said that its seamless onboarding process, wide range of financial products, and innovative services have played a significant role in driving its growth.Since its launch, Tonik has aimed to provide Filipinos, particularly those previously underserved by traditional banking institutions, with accessible, secure, and user-friendly digital banking services.The digital bank added that it will continue to innovate and enhance its digital offerings to better serve the diverse needs of the Philippine market.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/964b50163c9bab6624f4d9f58dfeb09d1844410d4858c5f6d4f4446d1cfbaecb/Greg-Krasnov-150x150.jpg" alt="Greg Krasnov"/>“We are thrilled to celebrate this momentous milestone, as it stands as a testament to the robust customer-centric model that Tonik has to offer.Achieving one million onboarded clients in such a short span is a validation of the growing trust and confidence of the Filipino community in our digital banking services.”said Greg Krasnov, CEO and Founder of Tonik.Tonik is a transformative digital bank on a mission to revolutionize the way money works in Southeast Asia.

We are addressing the US$140 billion retail deposit and US$100 billion unsecured retail lending opportunities in the Philippines. We believe the existing Filipino banking customers and the 70% of the Filipinos that remain unbanked deserve a better choice – a digital-only bank that is simple, not intimidating, helps them save, all at the click of a button. As the world leader in internet and social media usage, we believe Philippines is ripe for becoming a world leader in digital banking too.

We plan to make it happen. We provide retail financial products, including deposits, loans, savings accounts, payments, and cards on a highly secure digital banking platform.

Innovation is woven into the DNA of our company. We put customers first. We challenge the status quo. We are relentless. We are passionate about improving people’s financial lives through the use of technology.

Tonik is officially the Philippines’ first neobank to secure a digital bank license from the Bangko Sentral ng Pilipinas (BSP). Deposits are insured by the Philippine Deposit Insurance Corporation (PDIC).customercare@tonikbank.com
+63 2 5322 2645

Philippines’ digital bank Tonik announced that it has onboarded over one million customers since its inception.

Tonik Surpasses One Million Customers Since Launch

MANILA, Philippines — The world has certainly transformed by leaps and bounds, thanks to technology and innovation.

In retrospect, it is being creative and imaginative—building on the old, while embracing the new—that enable institutions to become future-ready.

Amid its transformation to becoming the country’s first "techglomerate," the Aboitiz Group is leveraging its decades-long experience and adapting to new agile processes and technologies.

A big part of its vision of establishing a sustainable enterprise that generates long-term equitable value is its energy arm’s 10-year renewable energy growth strategy.

AboitizPower is harnessing new technological advancements and industry trends that can help expedite the realization of its strategy to strike a 50:50 balance between thermal and renewable portfolios by 2030.

Last January, it held a groundbreaking ceremony for its 17-megawatt (MW) binary geothermal project in Tiwi, Albay. This July, the operation of its 94 MW peak Cayanga-Bugallon solar power project in Pangasinan is expected to be completed.

Meanwhile, the financial close of its 90 MW Libmanan onshore wind project in Camarines Sur will be finished by the end of the year.

At the same time, the power company is transforming its substations in Cebu and Davao to become fully digital, creating a stronger and efficient network security.

AboitizPower is also the first power company in the country to utilize artificial intelligence (AI) to help analyze data from its power plants and, in the process, predict and avoid breakdowns and optimize planned shutdowns.

There are many other initiatives including the use of green transformers to replace old units that use mineral oil, the upcycling of ash and plastic waste into bricks and the adoption of science-based approaches in responding to community disasters and climate change.

The Aboitiz Group has also taken advantage of the advancements in digitalization to significantly improve its banking services and operations via its banking arm UnionBank.

This is evidenced by the Asset Triple A’s recognition of it being this year’s Digital Bank of the Year. This makes UnionBank the first and only Philippine bank to receive the award six years in a row.

One of UnionBank’s biggest projects is the game-changing UB Innovation Campus, the first smart campus for a financial institution in the Asia Pacific region, powered by Huawei Technologies.

The UnionBank Innovation Campus is a first in the Philippine banking industry. UnionBank institutes on Data Science and Artificial Intelligence, Blockchain, as well as its digital bank EON in one roof.

No less than President Ferdinand Marcos, Jr. led its inauguration in September last year.

“The track record of UnionBank in creating opportunities through innovation and digital solutions in the banking sector is uncontested," President Marcos, Jr. said.

Indeed, UnionBank’s vision has always been to be the pioneer in digital banking by making banking services more accessible, especially for rural communities.

As proof of this, UnionBank is linked to major e-wallets and e-commerce wallets in the country, making it quicker for end users to top up or deposit to their daily e-wallets in any amount.

This is also being explored throughout other non-banking industries, such as insurtech, digital lending and alternative financing.

UnionBank is also spearheading changes in the banking landscape through co-creation and transformation of financial services and creating new experiences by leveraging both innovative and disruptive technology to meet rapidly changing customer demands and expectations.

These enable the Bank to tap new markets and create new business models by building on the Bank’s early adoption of emerging technologies, such as Application Programming Interface (API), Blockchain and Metaverse.

In all, UnionBank registered 2.214 million new digital customers as of Nov. 30, 2022, bringing the Bank’s total digital customers to about 5.839 million as of Q4 2022.

Of the 5.839 million, 28.36%&nbsp;or more than 1.6 million customers opened their account in a purely digital manner via the UB Online App.

Aboitiz Data Innovation (ADI) is advancing an over-a-century-old company’s technological transformation journey by operationalizing data science and AI across the Aboitiz Group’s business units.

Aboitiz Data Innovation Head of Solutions Architecture Josh Bosiños (center) with ADI data scientists.

Aside from banking and power, the Aboitiz Group's pivot towards innovation is backed and accelerated by its Data Science and Artificial Intelligence (DSAI) arm, Aboitiz Data Innovation (ADI).

ADI continues to operationalize solutions anchored on DSAI to improve all aspects of the Group’s operations.

For instance, the Data Science and AI team developed and deployed an AI-powered model to help measure a Suspicious Transaction Reporting (STR) alert’s risk of becoming an invalid alert (false positive) and therefore allows the Anti-Money Laundering (AML) operations team of UnionBank to prioritize their manual investigations.

The solution resulted in up to 40% decrease in the number of alerts which eventually led to a reduction in man-hours for manual investigation, while concurrently achieving very high confidence in detecting valid alerts.

ADI is likewise working closely with AboitizPower with the goal of reducing emissions from thermal plants, improving reliability across the grid, and developing insights into electricity markets.

Indeed, the Aboitiz Group has fully embraced innovation and it is evident across its different business units.

<h1>The Aboitiz Group’s innovation journey</h1>MANILA, Philippines — The world has certainly transformed by leaps and bounds, thanks to technology and innovation.In retrospect, it is being creative and imaginative—building on the old, while embracing the new—that enable institutions to become future-ready.Amid its transformation to becoming the country’s first "techglomerate," the Aboitiz Group is leveraging its decades-long experience and adapting to new agile processes and technologies.A big part of its vision of establishing a sustainable enterprise that generates long-term equitable value is its energy arm’s 10-year renewable energy growth strategy.AboitizPower is harnessing new technological advancements and industry trends that can help expedite the realization of its strategy to strike a 50:50 balance between thermal and renewable portfolios by 2030.Last January, it held a groundbreaking ceremony for its 17-megawatt (MW) binary geothermal project in Tiwi, Albay. This July, the operation of its 94 MW peak Cayanga-Bugallon solar power project in Pangasinan is expected to be completed.Meanwhile, the financial close of its 90 MW Libmanan onshore wind project in Camarines Sur will be finished by the end of the year.At the same time, the power company is transforming its substations in Cebu and Davao to become fully digital, creating a stronger and efficient network security.AboitizPower is also the first power company in the country to utilize artificial intelligence (AI) to help analyze data from its power plants and, in the process, predict and avoid breakdowns and optimize planned shutdowns.There are many other initiatives including the use of green transformers to replace old units that use mineral oil, the upcycling of ash and plastic waste into bricks and the adoption of science-based approaches in responding to community disasters and climate change.The Aboitiz Group has also taken advantage of the advancements in digitalization to significantly improve its banking services and operations via its banking arm UnionBank.This is evidenced by the Asset Triple A’s recognition of it being this year’s Digital Bank of the Year. This makes UnionBank the first and only Philippine bank to receive the award six years in a row.One of UnionBank’s biggest projects is the game-changing UB Innovation Campus, the first smart campus for a financial institution in the Asia Pacific region, powered by Huawei Technologies.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/UB-building.jpg" alt="Image"/>The UnionBank Innovation Campus is a first in the Philippine banking industry. UnionBank institutes on Data Science and Artificial Intelligence, Blockchain, as well as its digital bank EON in one roof.No less than President Ferdinand Marcos, Jr. led its inauguration in September last year.“The track record of UnionBank in creating opportunities through innovation and digital solutions in the banking sector is uncontested," President Marcos, Jr. said.Indeed, UnionBank’s vision has always been to be the pioneer in digital banking by making banking services more accessible, especially for rural communities.As proof of this, UnionBank is linked to major e-wallets and e-commerce wallets in the country, making it quicker for end users to top up or deposit to their daily e-wallets in any amount.This is also being explored throughout other non-banking industries, such as insurtech, digital lending and alternative financing.UnionBank is also spearheading changes in the banking landscape through co-creation and transformation of financial services and creating new experiences by leveraging both innovative and disruptive technology to meet rapidly changing customer demands and expectations.These enable the Bank to tap new markets and create new business models by building on the Bank’s early adoption of emerging technologies, such as Application Programming Interface (API), Blockchain and Metaverse.In all, UnionBank registered 2.214 million new digital customers as of Nov. 30, 2022, bringing the Bank’s total digital customers to about 5.839 million as of Q4 2022.Of the 5.839 million, 28.36%&nbsp;or more than 1.6 million customers opened their account in a purely digital manner via the UB Online App.Aboitiz Data Innovation (ADI) is advancing an over-a-century-old company’s technological transformation journey by operationalizing data science and AI across the Aboitiz Group’s business units.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/architect.jpg" alt="Image"/>Aboitiz Data Innovation Head of Solutions Architecture Josh Bosiños (center) with ADI data scientists.Aside from banking and power, the Aboitiz Group's pivot towards innovation is backed and accelerated by its Data Science and Artificial Intelligence (DSAI) arm, Aboitiz Data Innovation (ADI).ADI continues to operationalize solutions anchored on DSAI to improve all aspects of the Group’s operations.For instance, the Data Science and AI team developed and deployed an AI-powered model to help measure a Suspicious Transaction Reporting (STR) alert’s risk of becoming an invalid alert (false positive) and therefore allows the Anti-Money Laundering (AML) operations team of UnionBank to prioritize their manual investigations.The solution resulted in up to 40% decrease in the number of alerts which eventually led to a reduction in man-hours for manual investigation, while concurrently achieving very high confidence in detecting valid alerts.ADI is likewise working closely with AboitizPower with the goal of reducing emissions from thermal plants, improving reliability across the grid, and developing insights into electricity markets.Indeed, the Aboitiz Group has fully embraced innovation and it is evident across its different business units.

Accounting

The Aboitiz Group’s innovation journey

Rizal Commercial Banking Corp. (RCBC) continues to lessen its exposure to coal-fired power plants as it ramps up sustainable financing in support of the banking sector's move toward building a climate-resilient and low-carbon portfolio.

The Yuchengco-led bank's loan exposure to the sector decreased by 6.7 percent to P39.2 billion in 2022 from P42 billion in 2021, as it targets to continually taper this off to zero by 2031.

The phaseout of its exposure to coal is aligned with RCBC president and CEO Eugene Acevedo's pronouncement in December 2020 to cease funding for the construction of new coal power plants in the Philippines.

Coal-fired power plants, which account for approximately 58 percent of the country's energy mix, are the largest source of environmentally-harmful greenhouse gas (GHG) emissions.

The commitment has been documented as RCBC's coal policy statement within the bank's Environmental and Social Management System (ESMS) policy.

RCBC's Sustainable Finance Framework articulates its strategy to prioritize fund raising and lending to priority sectors that have clear environment and social benefits, foremost of which is clean energy.

The framework prescribes an exclusionary criteria, which identify certain projects as ineligible for the use of proceeds from the sustainable financing instruments, in particular fossil fuel power generation.

Since the implementation of the framework in 2019, RCBC has raised around $1.4 billion in green and sustainability bonds.

In February last year, RCBC launched the country's first peso green time deposit in support of the bank's green asset portfolio and in response to the unserved market keen on saving while promoting accountability on environmental awareness and protection.

The proceeds from both the bond issuances and the green time deposit helped support RCBC's sustainable asset growth.

As of end-2022, the bank's eligible sustainable assets continue to represent 12 percent of the total loan portfolio, significantly outpacing the six percent share of coal exposure.

Its eligible sustainable portfolio, consisting of 8,000 projects, has also overtaken the total exposure to environmentally critical projects (ECPs) per the guidelines of the Department of Environment and Natural Resources (DENR) Environmental Management Bureau (EMB).

The DENR-EMB criteria for identifying ECPs are adopted under RCBC's ESMS policy as projects with elevated environment and social risks and labeled as environmental risk category (ERC) A or high risk accounts.

RCBC's ERC A projects comprised only 10 percent of its total loan portfolio in end-2022, compared to the 12 percent share of the sustainable portfolio.

This sustainable portfolio is substantially comprised of funding for green projects, with the estimated asset mix shifting to 71:29 in terms of the ratio between eligible green and social assets, versus the 60:40 mix in 2020, or prior to RCBC's declaration to cease funding of the construction of new coal power plants in the Philippines.

The bank is targeting to increase its renewable energy portfolio by 10 to 15 percent per annum in the next 12 to 24 months.

Earlier, Acevedo told The STAR that the bank aims to finance more renewable energy projects this year as it continues to heed the call of the Bangko Sentral ng Pilipinas to be enablers of environmentally and socially responsible business decisions.

<h1>RCBC ramps up sustainable financing in Philippines</h1>Rizal Commercial Banking Corp. (RCBC) continues to lessen its exposure to coal-fired power plants as it ramps up sustainable financing in support of the banking sector's move toward building a climate-resilient and low-carbon portfolio.The Yuchengco-led bank's loan exposure to the sector decreased by 6.7 percent to P39.2 billion in 2022 from P42 billion in 2021, as it targets to continually taper this off to zero by 2031.The phaseout of its exposure to coal is aligned with RCBC president and CEO Eugene Acevedo's pronouncement in December 2020 to cease funding for the construction of new coal power plants in the Philippines.Coal-fired power plants, which account for approximately 58 percent of the country's energy mix, are the largest source of environmentally-harmful greenhouse gas (GHG) emissions.The commitment has been documented as RCBC's coal policy statement within the bank's Environmental and Social Management System (ESMS) policy.RCBC's Sustainable Finance Framework articulates its strategy to prioritize fund raising and lending to priority sectors that have clear environment and social benefits, foremost of which is clean energy.The framework prescribes an exclusionary criteria, which identify certain projects as ineligible for the use of proceeds from the sustainable financing instruments, in particular fossil fuel power generation.Since the implementation of the framework in 2019, RCBC has raised around $1.4 billion in green and sustainability bonds.In February last year, RCBC launched the country's first peso green time deposit in support of the bank's green asset portfolio and in response to the unserved market keen on saving while promoting accountability on environmental awareness and protection.The proceeds from both the bond issuances and the green time deposit helped support RCBC's sustainable asset growth.As of end-2022, the bank's eligible sustainable assets continue to represent 12 percent of the total loan portfolio, significantly outpacing the six percent share of coal exposure.Its eligible sustainable portfolio, consisting of 8,000 projects, has also overtaken the total exposure to environmentally critical projects (ECPs) per the guidelines of the Department of Environment and Natural Resources (DENR) Environmental Management Bureau (EMB).The DENR-EMB criteria for identifying ECPs are adopted under RCBC's ESMS policy as projects with elevated environment and social risks and labeled as environmental risk category (ERC) A or high risk accounts.RCBC's ERC A projects comprised only 10 percent of its total loan portfolio in end-2022, compared to the 12 percent share of the sustainable portfolio.This sustainable portfolio is substantially comprised of funding for green projects, with the estimated asset mix shifting to 71:29 in terms of the ratio between eligible green and social assets, versus the 60:40 mix in 2020, or prior to RCBC's declaration to cease funding of the construction of new coal power plants in the Philippines.The bank is targeting to increase its renewable energy portfolio by 10 to 15 percent per annum in the next 12 to 24 months.Earlier, Acevedo told The STAR that the bank aims to finance more renewable energy projects this year as it continues to heed the call of the Bangko Sentral ng Pilipinas to be enablers of environmentally and socially responsible business decisions.