While working from home has many benefits, it has made multi-person approval processes more laborious, and in this day and age, riskier health-wise for the people involved. To address this challenge, Union Bank of the Philippines (UnionBank) has launched the UnionBank SME banking app aimed at simplifying banking processes for businesses that have been forced to make the digital switch. Launched on January 15, 2021, the app was developed in-house and was tailored to the needs of business owners and decision-makers.
UnionBank was named the Philippines’ Best Bank for small and medium enterprises (SMEs) in 2020 by Asiamoney for providing better funding opportunities to small businesses. Its newest product aims to continue empowering SMEs to embrace digital transformation and unlock more opportunities for them to pivot, grow, and thrive in the now digital normal. It also underscores the bank’s primary goal of using its digital expertise to extend more financial services to all Filipinos, including the strategically-vital SMEs who comprise about 99% of the country’s registered businesses.
“As the country continues to recover, Philippine SMEs need innovative, convenient, and secure banking solutions. Through our platform, we want to empower them to bank the way they want and according to what their business needs,” Jaypee Soliman, UnionBank Vice President for SME Platforms said.
Through the UnionBank SME banking app, business owners can open their own checking account online without having to visit a branch. Everything is filled up and submitted online, and unlike other banking products that require a few days before activation, newly created accounts are made available and ready to use within the same day.
Aside from the newly launched app, UnionBank also offers other SME banking solutions including SeekCap and UnionBank GlobalLinker. Through SeekCap, business owners can apply for a loan fast and hassle-free. Through UnionBank GlobalLinker, a one-stop-hub digital platform, SMEs are able to manage their inventory and their respective teams, gain more knowledge about the local landscape, as well as expand their network all in one place.
“At the end of the day, we’re all in this together and we want to help all Filipinos be financially inclusive. We are a digital partner that Pinoy SMEs can trust and rely on amid any challenge,” Soliman concluded.
For more information about UnionBank and its products, visit www.unionbankph.com.