JACKSONVILLE, Fla. & MANILA, Philippines--(BUSINESS WIRE)--FIS™ (NYSE: FIS), a global leader in financial services and payment technology, today announced that UnionBank of the Philippines (UnionBank) has selected its comprehensive suite of risk management, compliance and analytics solutions to help the bank digitize and enhance its commercial lending processes.
One of the largest banks in the Philippines, UnionBank will use multiple FIS solutions to reengineer its commercial lending processes, including origination and credit assessment, liquidity and capital charge of loans and portfolios, data management and reporting. FIS’ risk management solutions will also help the bank comply with regulatory requirements, such as Philippine Financial Reporting Standards (PFRS), as well as proactively manage its enterprise risk through an integrated platform across asset liability management, liquidity risk and capital management.
In addition, FIS’ technology will enable the bank to take advantage of advanced third-party data analytical tools through the use of open application programming interfaces (APIs). This will result in improved credit risk monitoring and a greater ability to capitalize on growth opportunities in business lending.
This represents one of the most comprehensive suites of risk and compliance solutions provided by FIS to a single financial institution in Asia.
“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,” says Edwin Bautista, president and CEO of UnionBank of the Philippines.
“We are delighted to support UnionBank as it reinvents its lending process and takes advantage of digital innovations to meet its business objectives.” said Marianne Brown, chief operating officer, FIS Global Financial Solutions. “By using our integrated risk and compliance solutions, UnionBank will benefit from a centralized view of risk, liquidity, capital and profitability across its enterprise.”
FIS is a global leader in financial services technology, with a focus on retail and institutional banking, payments, asset and wealth management, risk and compliance, and outsourcing solutions. Through the depth and breadth of our solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries. Headquartered in Jacksonville, Fla., FIS employs more than 53,000 people worldwide and holds leadership positions in payment processing, financial software and banking solutions. Providing software, services and outsourcing of the technology that empowers the financial world, FIS is a Fortune 500 company and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.
UnionBank of the Philippines distinguishes itself through superior technology, unique branch sales and service culture, and centralized backroom operations. It provides a wide range of retail, commercial, and corporate banking products and services, including loan and deposit products, cash management services, trust banking services, consumer finance, treasury, and electronic banking.
UnionBank has consistently been recognized as one of Asia’s leading companies in banking and finance, ranking among the Philippines’ top 10 universal banks in terms of key performance ratios in profitability, liquidity, solvency and efficiency. UnionBank garnered several awards and recognitions including “Best Universal Bank 2017” by London-based CFI.co, and “Best Digital Bank - Philippines” at the Asiamoney Banking Awards 2017.