UnionBank bolsters digital tools amidst Philippine lockdown

It recorded a 160% surge in online banking sign-ups in March.

Union Bank of the Philippines (UnionBank) is boosting its range of digital services in line with the enhanced community quarantine (ECQ) declared by the Philippine government last 16 March.

In March, UnionBank recorded a nearly 160% increase in daily sign-ups to its online and mobile banking portals. The bank also reported a surge in new digitally-opened accounts through its UnionBank Online platform.

The bank was able to keep 94% of its physical branches open outside of those in quarantine areas, and implemented a work from home schedule for close to 90% of its employees.

In addition, the bank has waived fees on InstaPay and PesoNet since the start of the ECQ and has been extended to end-April, and has rolled out its 5G-enabled mobile bank on wheels.