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.”