Unionbank launches wealth product in bid to expand customer base this year

THE Aboitiz family-led Union Bank of the Philippines (Unionbank), through its new wealth management program, announced last Tuesday it aims to expand its customer base in 2024 by aggressively promoting their two different portfolios.

For starters, the bank said clients who signed for the Unionbank Access will be given first class treatment with priority queueing at branches, get preferential foreign exchange rates (for travel or investment purposes), have exclusive time-deposit rates, enjoy free ATM withdrawals with higher transaction limits (in country and abroad), can enjoy cross-border fund transfers and can link multiple deposit accounts to their debit card.

Customers of the Unionbank Elite, on the other hand, will be provided access to a service banker, wealth acquisition officer, investment specialist and insurance specialist. These wealth experts are expected to provide insights and guidance “that will help keep them on track to meet their financial goals,” according to the lender. These customers would also be able to access global investment products without opening off-shore accounts, have free international ATM withdrawals, and can transfer cross-border funds to any account in the world with no outgoing fees.

According to the lender, its wealth management product is “a leveled-up banking experience that grants access to exclusive events tailored to enrich the client’s relationship with the bank.”

The lender promoted the product through two events in Metro Manila and Cebu. In these events, Unionbank ’s two global fund house partners presented the latest financial shifts and prospects around the world.

Christopher Wong and Liao Shuangwei from Fidelity International Resource Management Inc. provided investment insights on enduring megatrends, emerging markets like India, and taking the defensive approach through less volatile sectors. Michelle Leung from Allianz Global Investments articulated ways to navigate in a dynamic landscape, the impact of artificial intelligence across industries and other opportunities in new markets such as Japan.