Union Bank of the Philippines (UnionBank) distinguished itself as the first bank to go live during the recent ceremonial launch of the Open Finance for PERA (OFxPERA) Pilot, joining the Bangko Sentral ng Pilipinas (BSP), fellow PERA administrators, and key financial services partners in celebrating this major milestone. UnionBank is pioneering digital innovations that make the Personal Equity and Retirement Account (PERA) more accessible and empowering for Filipinos planning their financial future.
| Winsley Bangit | Vice President and Group Head for New Businesses | G-XCHANGE, INC. |
| Reginaldo B. Cariaso | President and CEO | RIZAL COMMERCIAL BANKING CORPORATION |
| Ana Maria A. Delgado | President and CEO | UNIONBANK OF THE PHILIPPINES |
| Phillip Hagedorn | President and Chief Investor Engagement Officer, ATRAM Trust Corporation | ATRAM TRUST CORPORATION |
| Edwin R. Bautista | President and Chief Executive Officer | PHILIPPINE NATIONAL BANK |
| Eli M. Remolona, Jr. | Governor | BANGKO SENTRAL NG PILIPINAS |
| Angelica S. Reyes | EVP and Head, Metrobank Trust Banking Group | METROPOLITAN BANK & TRUST COMPANY |
| Shailesh Baidwan | Group President, Maya; Co-Founder, Maya Bank | MAYA PHILIPPINES, INC. |
| Alan V. Bornas | Executive Vice President – Operations Sector | LAND BANK OF THE PHILIPPINES |
| Manuel Patricio C. Malabanan | Trust Officer | BDO UNIBANK, INC. |
| Ma. Theresa Marcial | President | BPI ASSET MANAGEMENT AND TRUST CORPORATION |
Photo courtesy of the BSP
This groundbreaking initiative, led by the BSP, leverages the Open Finance framework to simplify and digitize the PERA onboarding process. Through the pilot, users can now open PERA accounts via participating apps, using secure, consent-based sharing of their bank or e-wallet KYC data—eliminating the need for manual forms or physical ID verification.
“Technology should elevate lives, and we are proud to stand before you with a live integration. It is a privilege to support an initiative that reflects our shared commitment to building a more inclusive and financially empowered future for Filipinos,” said UnionBank President and CEO Ana Aboitiz Delgado. “By integrating Open Finance into the PERA ecosystem, we open new ways for individuals to manage their long-term financial goals with greater ease and confidence.”
The OFxPERA Pilot aims to enhance the Personal Equity and Retirement Account (PERA) framework by leveraging Open Finance principles, enabling more seamless and transparent access to retirement planning tools. UnionBank sees this as a timely step toward achieving the BSP’s goal of ensuring better retirement years for Filipinos, a vision that aligns with the Bank’s mission to democratize financial services through innovation.
UnionBank’s journey in Open Banking has already laid a strong foundation for this initiative. With nearly 1,000 APIs available on its Developer Portal and connections close to 200 institutions, the Bank has built an ecosystem that fosters collaboration and customer-centric solutions. The Bank also highlighted its recent strategic merger between UnionBank Investment Management and Trust Corporation and ATRAM, showcasing how partnerships can lead to more responsive and personalized financial services — especially when guided by Open Finance principles.
Looking ahead, UnionBank is preparing to integrate learnings from the OFxPERA Pilot into its UnionBank Online app, aiming to provide users with more convenient access to digital financial tools.
“UnionBank reaffirms its full support for this initiative and for what it stands for,” Delgado concluded. “We are committed to working alongside the BSP, our fellow participants, and the wider community as we enter Phase 2 — and to continuously learn, collaborate, and do our part in advancing inclusive financial growth.”
As the OFxPERA Pilot moves forward, UnionBank remains steadfast in its commitment to innovation, inclusion, and empowerment of every Filipino to take charge of their financial future.
Union Bank of the Philippines is regulated by the Bangko Sentral ng Pilipinas (www.bsp.gov.ph). Deposits are insured by PDIC up to P1 Million per depositor. For more info, please visit our website https://www.unionbankph.com/. For any concern, you may contact us through our UnionBank Online app (Mailbox > Support > Create New Ticket) or our Customer Service Hotline at (+632) 8841-8600.
