UnionDigital Bank (UD), the digital arm of Union Bank of the Philippines, has unveiled a series of enhancements to its mobile application and new programs aimed at promoting financial inclusion and literacy among Filipinos.
In an event held on June 4, UD presented its strategic plan to reach the approximately 37.6-million Filipino adults without bank accounts.
Central to this effort is the launch of the “Kaya Mo Movement”, designed to make banking more accessible and user-friendly through a revamped app, which only requires a working phone number and ID to create an account.
Offerings of the updated application will include the UD Save, a basic savings account requiring no minimum balance or maintenance fees, as well as the UD Time Deposit, which allows for a minimum investment of P1,000 and offers flexible terms.
The existing UD Loans product continues to be a core offering, providing loan options designed to cover essential needs such as healthcare.
Additionally, UD plans to introduce the Visa-powered UD Virtual Debit Card, which will feature exclusive sales, promotions, and a rewards program that can be monetized.
The new debit card will facilitate peer-to-peer (P2P), person-to-merchant (P2M), and person-to-business (P2B) money transfers through a partnership with QR Ph.
The Kaya Mo Movement extends beyond banking services, incorporating a financial literacy program designed to educate participants on effective financial management.
Alongside this initiative, UD is collaborating with Hapinoy and mWell to launch the UD Cash Loan product, aimed at supporting first-time borrowers seeking to finance small businesses such as sari-sari stores while also providing access to essential healthcare services.
UnionDigital president and CEO Danilo “Bong” Mojica, emphasized the importance of these initiatives, stating, “Through the ‘Kaya Mo’ movement, we’re not just providing banking — we’re partnering with our customers and communities to help them start, recover, and thrive.”
