UnionBank gears up for digitization to take on ‘fintechs’

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In a roundtable discussion with The Manila Times on Tuesday, UnionBank President and Chief Operating Officer (CEO) Edwin Bautista said the main threat to local banks amid the more liberalized banking industry in the country is the entry of fintechs and purely digital foreign banks in the Philippines. Fintech, or financial technology, is an emerging industry composed of companies that …