Union Bank of the Philippines (UnionBank)’s fintech arm UBX is leveraging its i2i network of rural banks for the distribution of the second tranche of the Department of Social Welfare and Development (DSWD)’s Social Amelioration Program (SAP).
UBX has partnered with UnionBank, one of six financial service providers appointed by the government to enable the electronic payment of the second wave of emergency subsidies for Filipinos hardest hit by the COVID-19 crisis.
These rural bank partners include MVSM Bank, Country Builders Bank Inc., Saviour Rural Bank Inc., City Savings Bank Inc., Bangko Kabayan, Inc., New Rural Bank of San Leonardo, GM Bank of Luzon Inc., Guagua Rural Bank, Quezon Capital Rural Bank Inc., and Fairbank and Rural Bank of Barili.
i2i member branches are strategically located across the country, including remote areas, which helped in expediting the disbursement.
i2i rural bank members are walking the extra mile, going to locations that are more convenient for the beneficiaries. Thousands of the recipients in areas such as Batangs, Quezon, and Rizal, will receive assistance through i2i.
“We want to provide a comfortable and efficient way of distributing the (government) aid,” said Gigette De Luna, President of MVSM Bank, the first i2i member to pilot this initiative. “At the same time, we make sure that we follow the health and safety restrictions in order to protect the men and women of MVSM Bank and the general public.”
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