UnionBank of the Philippines (UnionBank) has selected FIS’ comprehensive suite of risk management, compliance and analytics solutions in a bid to digitise and improve its commercial lending processes.
The FIS’ technologies will also improve the bank’s origination and credit assessment, liquidity and capital charge of loans and portfolios, data management and reporting.
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The bank is also deploying FIS’ risk management solutions to comply with regulatory requirements, such as Philippine Financial Reporting Standards (PFRS), and to manage its enterprise risk through an integrated platform across asset liability management, liquidity risk and capital management.
Furthermore, the FIS technology will enable the lender to get the benefit of advanced third-party data analytical tools through the use of open application programming interfaces (APIs). As a result, the bank will enjoy improved credit risk monitoring while capitalising on growth opportunities in business lending.
UnionBank of the Philippines president and CEO Edwin Bautista 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.”
FIS Global Financial Solutions chief operating officer Marianne Brown said: “By using our integrated risk and compliance solutions, UnionBank will benefit from a centralized view of risk, liquidity, capital and profitability across its enterprise.”
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