UnionBank, Microsoft, and Temenos Boost Financial Inclusion in PHL
A new three-way partnership is pushing Filipino banking further towards digital transformation.
This is between Union Bank of the Philippines (UnionBank) and Microsoft and Swiss software company Temenos to bring Filipino banking to the cloud platform Azure and expand opportunities for financial inclusion and innovation in the Philippines.
Under the tripartite agreement, UnionBank’s fintech arm, UBX, now has the capability to enable rural banks, microfinance entities, and cooperatives in the Philippines with technology to power their financial operations quickly and bring financial services within the reach of more Filipinos.
Over the recent years, the adoption of technology in the Financial Services Industry (FSI) has grown exponentially, with recent strides on various innovations such as blockchain, virtual currency, instant payments, and robotic process automation.