by UnionBank Human Resources Group
UnionBank of the Philippines set out to elevate its digital lending capabilities to better serve the evolving needs of Filipino customers. While the existing personal loan process was functional, it lacked the speed, accessibility, and seamless experience expected in a digital-first environment. The challenge was to redesign the product—PL2.0—to deliver a fully digital, frictionless experience that would allow qualified borrowers to receive loan disbursements within minutes of approval. This initiative aligned with UnionBank’s NextGen vision and the Aboitiz Group’s Great Transformation, which aims to integrate technology across all business lines to drive innovation and customer value.
The team conducted a comprehensive analysis of lending workflows and customer pain points, then reimagined the personal loan journey with a customer-centric, high-tech, high-touch approach. Key actions included:
- Designing a fully digital loan application and approval process accessible via UnionBank’s secure platform—eliminating the need for branch visits.
- Overcoming technical challenges through iterative deployments, redesigns, and collaborative problem-solving.
- Ensuring alignment with risk and control functions through rigorous testing and stakeholder engagement.
- Demonstrating agility and ownership by conducting root cause analyses and implementing timely fixes to ensure system stability and compliance.
PL2.0 achieved loan disbursement in as fast as 5 minutes post-approval—the fastest among traditional banks in the Philippines. The launch delivered:
- A +72 Net Promoter Score (NPS), with ease of application and speed as key drivers.
- An 18% increase in loan volume, translating to ₱1.7 billion in incremental sales and ₱191 million in revenue in Year 1.
- Reinforced UnionBank’s position as a digital innovator, empowering customers to meet their financial needs and realize their goals faster through cutting-edge solutions and high-performing talent.
This initiative exemplifies UnionBank’s purpose of Reimagining Banking to Uplift Lives, proving that speed, simplicity, and smart design can transform everyday banking into an empowering experience.
