FIS selected by UnionBank of the Philippines 03 May 2018Manila Reporter: Jenna Lomax
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FIS has been selected by UnionBank of the Philippines (UnionBank) to help the bank digitise and enhance its commercial lending processes.
UnionBank will use the firm’s solutions to re-engineer its commercial lending processes, including origination and credit assessment, liquidity and capital charge of loans and portfolios, data management and reporting.
The risk management solutions will also help the bank comply with regulatory requirements, such as Philippine financial reporting standards, as well as proactively manage its enterprise risk through an integrated platform across asset liability management, liquidity risk and capital management.
The company’s technology will enable the bank to take advantage of advanced third-party data analytical tools through the use of open application programming interfaces.
According to FIS, this will result in improved credit risk monitoring and a greater ability to capitalise on growth opportunities in business lending.
Edwin Bautista, president and CEO of UnionBank of the Philippines, said: “UnionBank is in a major effort to digitally transform its businesses and processes, and we are looking at this relationship with FIS as a significant step in achieving our long-term objectives.”
Marianne Brown, COO at FIS, commented: “We are delighted to support UnionBank as it reinvents its lending process and takes advantage of digital innovations to meet its business objectives. By using our integrated risk and compliance solutions, UnionBank will benefit from a centralised view of risk, liquidity, capital and profitability across its enterprise.”
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