UnionBank of the Philippines has launched a fully digital onboarding feature for the Personal Equity and Retirement Account (PERA) on its mobile app.

Developed in collaboration with the Bangko Sentral ng Pilipinas and ATRAM Trust Corporation, the feature allows users to open a voluntary retirement fund without submitting physical documents.

The digital rollout addresses the need for supplementary retirement funds beyond mandatory state pension programmes like the Government Service Insurance System and the Social Security System.

The new feature aims to boost UnionBank Philippines PERA savings by providing a secure and accessible platform for early financial planning.

“By fully digitising PERA onboarding within UnionBank Online, we are removing traditional barriers to long-term investing,” said Ana Aboitiz Delgado, President and CEO, UnionBank.

“We believe that preparing for the future should be simple, inclusive, and accessible to every Filipino,” Delgado added.

During this initial phase, ATRAM Trust Corporation serves in an administrative capacity, granting customers access to a wider selection of accredited investment products.

The bank views the launch as a foundational step and plans to eventually introduce a fully integrated digital journey covering both onboarding and ongoing account management.

Featured image by UnionBank of the Philippines.