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).
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.; Fairbank and Rural Bank of Barili.
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 coronavirus 2019 (COVID-19) crisis.
i2i member branches are strategically located across the country, including remote areas, expediting the disbursement.
Moreover, 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 Rizal, Quezon and Batangas will receive the assistance through i2i.
Gigette De Luna, president of MVSM Bank, the first i2i member to pilot this initiative, said: “It is an honor to be able to assist the DSWD in reaching out to the beneficiaries. We want to provide a comfortable and efficient way of distributing the ayuda (aid). At the same time, we make sure that we adhere to the highest levels of safety standards in order to protect the men and women of MVSM Bank and the general public.
Meanwhile, Reggie Ocampo, vice president for human resource and microfinance of Country Builders Bank, said CBB is in close coordination with the regional DSWD offices, along with UnionBank and UBX.
“We understand the urgent need of our constituents for the payout and we are gladly assisting to distribute this immediately and efficiently to the SAP beneficiaries,” Ocampo added.