The latest additional infusion will help drive the digital bank’s expansion, particularly in digital loans which will soon be launched in the UD app, the company disclosed.
UnionDigital Bank, the digital bank subsidiary of UnionBank, recently partnered with Huawei to bring financial services to more people in the Philippines by tapping into the tech company’s ecosystem of services and seven million customer base.
Tala, an online lending app with over 7.5 million customers in four countries, has formed a partnership with UnionDigital Bank to launch a digital wallet called Tala Wallet.
In 2019, 43 million Filipino gamers spent a total of $572 million on games, four-fifths engaged with in-game microtransactions such as buying power-ups and game cosmetics. The following year, revenue generated by the online gaming industry sat at $24 million.
