UnionDigital Bank

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.

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

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

• Digital banking services
• Mobile banking
• Consumer lending
• Embedded insurance
• Savings accounts

Headquarters

HQ city

Manila

HQ country

Philippines

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Digital Banking Services: Interest income from digital lending products and deposits; fee income from digital transactions and payment services
2. 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

Core 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

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability3 records

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• Chubb PhilippinescoreStrategic or Co-development Partner · 26 June 2026Partnership 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.
• iProovcoreTechnology or Integration · 12 December 2025iProov 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

Direct 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

• YouTubeyoutube.com/channel/UCZWdYnqjFp2-TuoD816VrMg
• Facebookfacebook.com/UnionDigitalBank
• LinkedInlinkedin.com/company/uniondigitalph
• Xx.com/UnionDigitalPH

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about UnionDigital Bank