Advertisement

Microsoft, Temenos tie up with UnionBank

Union Bank of the Philippines, the eighth-largest lender in the country in terms of assets, has teamed up with 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.

The bank said in a statement Wednesday UnionBank’s fintech arm, UBX, under the tripartite agreement now has the capability to enable rural banks, micro-finance entities and cooperatives in the Philippines with technology to power their financial operations quickly.

Over the recent years, the adoption of technology in the financial services industry has grown exponentially, with recent strides on various innovations such as blockchain, virtual currency, instant payments and robotic process automation.

In the Philippines, digital banking has also seen rapid growth, raising financial literacy among Filipinos. People who used to have no access to financial services can now enjoy a myriad of options through various customer-centric platforms, allowing them to bank at their convenience.

Topics: Microsoft , Temenos , Union Bank of the Philippines , Azure
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by manilastandard.net readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of manilastandard.net. While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.
AdvertisementGMA-Working Pillars of the House
Advertisement