UnionBank of the Philippines has streamlined its customer onboarding process using the FICO Platform, achieving peak volumes of 50,000 new accounts per month with 5-minute approvals.

Following its $700 million acquisition of Citibank’s local consumer banking business in 2022, UnionBank transferred over 1 million customers and integrated Citibank’s systems into its own within nine months. To support this massive shift, the bank deployed the FICO Platform to power a Credit Decision Engine (CDE), accelerating digital approvals and automating decision-making.

Thanks to this technology, UnionBank now processes over 80% of credit card and loan applications straight-through reducing the typical onboarding time to just 5–15 minutes.

This transformation underscores UnionBank’s commitment to financial inclusion and digital banking innovation. The bank used FICO Platform to improve operational efficiency while ensuring faster service delivery to underbanked populations.

“FICO Platform helped us integrate Citibank’s systems and elevate customer experience,” said Manoj Varma, UnionBank’s consumer banking head. “It also supported our growth and inclusion goals.”

Expanding Financial Inclusion with Technology

The Philippines has a high digital adoption rate but faces ongoing challenges serving underbanked groups, including gig workers and those with limited credit history. UnionBank’s Credit Decision Engine, powered by FICO Platform, uses alternative data and advanced analytics to score customers who are often overlooked.

By integrating both bureau and non-traditional data, the platform creates detailed customer profiles. This allows UnionBank to responsibly extend credit access, especially to financially underserved communities across the Philippines.

The platform also applies risk-based verification, enabling faster approvals for low-risk applicants while maintaining strict checks for higher-risk profiles. This balance ensures secure and efficient lending decisions at scale.

Key Results from UnionBank’s Digital Overhaul:

  • Record-breaking onboarding: Peaked at 50,000 new accounts monthly (credit cards and loans)
    High automation: Over 80% of applications processed automatically, cutting time to 5–15 minutes
  • Reduced manual work: 30–40% of decisioning now fully automated
  • Financial inclusion: Credit access extended using alternative and behavioral data
  • Fast integration: Merged UnionBank and Citibank’s tech stack in under nine months

Looking ahead, UnionBank continues to leverage the FICO Platform to improve credit management, including real-time authorizations and dynamic limit adjustments introduced in 2024.

“UnionBank proved that tech isn’t just about speed — it’s about inclusion,” said Nikhil Behl, head of software at FICO. “They’ve built a scalable system that empowers users and drives financial access.”

For its achievements, UnionBank received the 2025 FICO® Decision Award for Customer Onboarding and Management.

“Integrating two large banking systems is never easy,” said Regan Goble, judge at FICO Decision Awards and risk analytics head at Westpac NZ. “UnionBank impressed with their precision, execution, and people-first focus.”

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News Source: Businesswire.com