UnionDigital Bank
UnionDigital Bank Inc. is the digital banking subsidiary of Union Bank of the Philippines, operating a mobile-first platform offering savings, digital loans, biometric-secured transactions, and embedded insurance to unbanked and underinsured Filipinos across the Philippines.
- Company typePrivate
- Founded2022
- HeadquartersManila, Philippines
- Headcount251–500
- GTM typeB2C
- OfferingServices
What UnionDigital Bank does
UnionDigital Bank Inc. is the wholly-owned digital banking subsidiary of Union Bank of the Philippines, launched in 2022 as the digital-native culmination of UnionBank's five-phase digital transformation strategy that began in 2016. The company operates as a mobile-first direct-to-consumer bank holding one of six digital bank licenses issued by the Bangko Sentral ng Pilipinas starting in 2020, regulated from its headquarters at UnionBank Plaza, Meralco Ave. corner Onyx St., Ortigas Center, Pasig City. Its core product is the UnionDigital Digital Banking Platform — a mobile app delivered on Android (Google Play) and iOS (Apple App Store) that provides 24/7 savings, digital loan origination and servicing, and since June 2026, embedded insurance products (Loan Protect Insurance and Kaya Protect Insurance) distributed in partnership with Chubb Philippines.
The bank's underlying technology stack centers on a mobile banking platform augmented by partner-provided security and AI components. Biometric identity assurance is delivered via a partnership with iProov, whose Dynamic and Express Liveness solutions provide facial biometric verification combined with a risk-based authentication engine that varies identity-assurance levels by transaction risk, in alignment with BSP security regulations and designed to defend against AI-driven account-takeover and mule activity in underbanked user populations. Distribution is exclusively direct-to-consumer via the mobile app, supplemented by social-media presence on Facebook, LinkedIn, and YouTube for acquisition and education.
Monetization rests on three streams: net interest income from digital lending products and deposits, transaction and payment fees on digital banking services, and commission income from embedded insurance products partnered through Chubb. The bank received PHP 900 million (approximately USD 16.2 million) in corporate funding from parent UnionBank in July 2023 to support digital expansion, new loan products, and partnerships. UnionDigital has between 251 and 500 employees and operates exclusively in the Philippines, targeting unbanked/underbanked Filipinos and an estimated 48% of Filipino adults who remain uninsured.
UnionDigital Bank firmographics
Firmographics- Name
- UnionDigital Bank
- Legal name
- UnionDigital Bank Inc.
- Website
- https://uniondigitalbank.io
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- UnionDigital Bank Inc. is the digital banking subsidiary of Union Bank of the Philippines, operating a mobile-first platform offering savings, digital loans, biometric-secured transactions, and embedded insurance to unbanked and underinsured Filipinos across the Philippines.
- Ownership category
- akta.pro rank
UnionDigital Bank industry classification
Industry- Product category
- Digital Banking
- NAICS
- Commercial Banking (522110), Depository Credit Intermediation (5221)
- SIC
- National Commercial Banks (6021)
- akta.pro primary industry
- Digital Banking & Neobank Platforms (BPAMAFAD)
- akta.pro secondary industry
- Digital Retail Banking (Online & Mobile) (FSABAAAF)
Keywords
Where UnionDigital Bank is headquartered
LocationHeadquarters
- HQ city
- Manila
- HQ country
- Philippines
- HQ region
- Asia
Offices1 record
Markets served
UnionDigital Bank business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Digital Banking Services: Interest income from digital lending products and deposits; fee income from digital transactions and payment services
- Embedded Insurance: Commission revenue from embedding insurance products (Loan Protect Insurance, Kaya Protect Insurance) within the digital banking app via partnership with Chubb Philippines
Go-to-market motion2 records
Distribution channels1 record
Marketing channels3 records
UnionDigital Bank product offering
Product offeringCore offering
UnionDigital Bank provides mobile-first digital banking services to unbanked and underbanked Filipinos, offering savings accounts, digital loan products, and embedded insurance coverage directly through its mobile banking app. The platform supports instant account opening, digital loan applications, and biometric-secured transactions, with embedded insurance products (Loan Protect Insurance and Kaya Protect Insurance) offered via partnership with Chubb Philippines.
Product overview
UnionDigital Bank operates as UnionBank of the Philippines' digital banking subsidiary, offering a unified digital banking platform providing savings, loans, and embedded insurance products through its mobile app. The core platform was launched in 2022 and is augmented by module add-ons including Loan Protect Insurance (free coverage for borrowers) and Kaya Protect Insurance (accidental coverage for savers), both embedded via partnership with Chubb Philippines. The bank also deploys iProov biometric authentication for secure identity verification.
Differentiator
Problem solved
Functional benefit
Products and services
- UnionDigital Digital Banking Platform Mobile-first digital banking platform providing savings accounts, digital loans, and embedded insurance products to unbanked and underbanked Filipinos, launched as UnionBank of the Philippines' digital banking subsidiary.
- Loan Protect Insurance Free insurance product offered to eligible loan borrowers during the first three months, embedded directly into UnionDigital's digital banking app through partnership with Chubb Philippines.
- Kaya Protect Insurance Accidental coverage insurance product for qualified savers, embedded directly into UnionDigital's digital banking app through partnership with Chubb Philippines.
Quantifiable outcome
- Partnership with Chubb Philippines targets the estimated 48% of Filipino adults who remain uninsured
- +1 more outcomes
Companies that use UnionDigital Bank
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
UnionDigital Bank technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
AI capability3 records
Feature1 record
UnionDigital Bank partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Chubb PhilippinescorePartnership to embed insurance products directly into UnionDigital Bank's digital banking app, targeting the estimated 48% of Filipino adults who remain uninsured. Products include free Loan Protect Insurance for borrowers (first 3 months) and Kaya Protect Insurance for accidental coverage for savers.
- iProovcoreiProov partnered with UnionDigital Bank to deploy Dynamic and Express Liveness biometric authentication solutions, enabling risk-based authentication for secure digital banking. The solution aims to combat rising AI-driven threats like account takeovers and mule activity for underbanked communities.
Scale indicators5 records
Recent moves5 records
Expansion highlights5 records
UnionDigital Bank competitors and assessment
Company assessmentDirect peers
- Maya Bank: Maya Bank is one of the six BSP-licensed digital banks in the Philippines offering mobile-first banking, deposits, and payments to consumers. It is a direct competitor to UnionDigital with similar regulatory standing and target segments.
- CIMB Bank Philippines: CIMB Philippines is a digital-first bank offering mobile banking, savings, and loans to Filipino consumers. It is one of the six BSP-licensed digital banks and competes with UnionDigital in the same digital banking category.
- ING Bank Philippines (Savings Account): ING operated a digital savings platform in the Philippines targeting unbanked consumers before exiting. It served as a comparable digital-only deposit product targeting similar demographics in the same market.
- Tonik Digital Bank: Tonik is a Southeast Asian digital bank offering mobile-first deposit and lending products. As a fellow digital-only bank operator in the region, it provides a comparable business model benchmark for UnionDigital.
- Komo by EastWest Bank: Komo is a Philippine digital banking platform from EastWest Bank targeting young and unbanked consumers with mobile-first deposit and payment services. It is one of the six BSP digital bank license holders.
- GCash: GCash is the dominant Philippine e-wallet and digital financial services platform serving unbanked consumers with mobile banking, payments, and lending. It competes directly with UnionDigital for the same financial inclusion target market.
Emerging players
- WeBank (Tencent): WeBank is a leading digital-only bank serving unbanked and small business customers with mobile-first lending and deposits. It serves as a global comparable for digital bank business models targeting financial inclusion at scale.
- Grab Financial Group: Grab Financial offers mobile-first lending, payments, and insurance across Southeast Asia including the Philippines. While broader in scope, its embedded financial services for underserved consumers overlap with UnionDigital's value proposition.
- Revolut: Revolut is a global digital banking app offering multi-currency accounts, payments, and embedded insurance. While geographically distinct, it represents a comparable model for digital-first banking with embedded insurance distribution.
Regional players
- Akulaku: Akulaku is a Southeast Asian digital lending and fintech platform serving unbanked consumers in the Philippines and Indonesia. It competes for the same underbanked lending segment via mobile-first channels in overlapping geographies.
Market position
Strengths1 record
Weaknesses1 record
Competitive moat4 records
Key risks5 records
Key highlights5 records
Customer concentration
UnionDigital Bank social profiles
Digital presenceUnionDigital Bank compliance and trust
Trust signalCompliance1 record
UnionDigital Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
UnionDigital Bank leadership team
Management profileNumber of profiles
Profiles1 record
UnionDigital Bank funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
UnionDigital Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about UnionDigital Bank
What does UnionDigital Bank do?
UnionDigital Bank provides mobile-first digital banking services to unbanked and underbanked Filipinos, offering savings accounts, digital loan products, and embedded insurance coverage directly through its mobile banking app. The platform supports instant account opening, digital loan applications, and biometric-secured transactions, with embedded insurance products (Loan Protect Insurance and Kaya Protect Insurance) offered via partnership with Chubb Philippines.
Is UnionDigital Bank a public or private company?
UnionDigital Bank is a private company. It is classified as corporate owned and is currently operating.
When was UnionDigital Bank founded?
UnionDigital Bank was founded in 2022. It employs 251 to 500 people.
Where is UnionDigital Bank based?
UnionDigital Bank is headquartered in Manila, Philippines, in the Asia region.
How does UnionDigital Bank make money?
Two revenue lines are on record. Digital Banking Services are the primary driver. The others are embedded Insurance.
Who are UnionDigital Bank's main competitors?
Direct peers on record are Maya Bank, CIMB Bank Philippines, ING Bank Philippines (Savings Account), Tonik Digital Bank, Komo by EastWest Bank and GCash. Emerging players are WeBank (Tencent), Grab Financial Group and Revolut. Akulaku is listed as a regional player.
Does UnionDigital Bank have an API?
No public API is recorded for UnionDigital Bank.
What industry is UnionDigital Bank in?
UnionDigital Bank's product category is Digital Banking. Its primary akta.pro industry code is BPAMAFAD, Digital Banking & Neobank Platforms, with a secondary code of FSABAAAF, Digital Retail Banking (Online & Mobile). Its NAICS code is 522110 and its SIC code is 6021.