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May 27, 2024

UnionBank, Globe partnership a game changer in fraud investigation

Union Bank of the Philippines headed by bankero Edwin Bautista is taking its campaign against cybercrime to the next level through a partnership with the Ayala-led Globe Telecom.

The Aboitiz-led bank is signing a memorandum of agreement (MOA), touted as the first of its kind and a game changer in the investigation of fraud, with Globe on March 24.

Aside from facilitating expedient gathering of relevant information, the partnership between UnionBank and Globe would also help improve customer confidence and trust in financial institutions.

UnionBank is the country’s 10th largest lender in terms of assets with P679.33 billion and 9th in terms of capital with P107.35 billion as of end September last year.

On the other hand, Globe is the biggest mobile operator in the country with a subscriber base of 86.8 million in 2021, up 13 percent from the 2020 level.