Fexco Philippines inks strategic partnership with UnionBank
MANILA, FEBRUARY 2020 – As part of their goal of promoting financial inclusion in the country, Fexco Philippines has recently signed a partnership with the UnionBank of the Philippines (UnionBank) that will allow both companies to complement each other’s strengths in providing financial products and services to customers. The partnership was officiated through a signing ceremony that took place last January 31, 2020 at the UnionBank head office in Pasig City.
Under the partnership, Fexco will become part of the FinTech package of UnionBank, offering its services to the Bank’s new and existing corporate, as well as small & medium enterprise (SME), account holders. Fexco, as a technology platform provider to the Unionbank network, can enable the rapid and low-cost expansion of financial services in communities through innovative and accessible technology.
“Part of our global strategy is acquiring strategic partnerships throughout the Philippines. And at the center of our initiative is a desire to work with industry-leading partners such as UnionBank,” said Fexco Philippines CEO Cathal Brendan Foley.
“Partnerships such as this are critical for us [UnionBank] to fulfill our inclusive prosperity mandate,” said UnionBank Senior Vice President and Head of Fintech Business Group Arvie de Vera. “At UnionBank, we want to enable inclusive prosperity for every Filipino, but it's very clear that that is not possible alone and can only be done through partnerships. So, our strategy has always been to partner with different domain-knowledge experts.”
Fexco’s newly inked deal with UnionBank effectively expands the customer base of both entities and is a show of the willingness of both companies to work with other financial institutions to promote financial inclusion in the country. It also brings to the table the possibility of deeper partnerships between Fexco and UnionBank’s subsidiaries in the future.
“We're very excited for this partnership because the potential that it can bring to the Filipino people, especially at the grassroots level, is tremendous. And I think if we can scale this partnership properly, you'll see the financial behavior Filipinos change as well,” de Vera said.
“Fexco globally is a company rooted in strategic partnerships, and many of those are long-term partnerships built on trust, continued innovation, and close ties working together. We believe that UnionBank will be a long-term partner for Fexco globally and Fexco Philippines, and our push for innovative financial accessibility and inclusion across a range of products for the fintech business,” Foley added.
Recognised as an established fintech player, Fexco employs over 2,400 people across its suite of companies headquartered in Killorglin, Co. Kerry located in the South West of Ireland. Founded in 1981, Fexco now has operations in 29 countries across Europe, the Middle East, Asia-Pacific, North America and Latin America.
Fexco serves some of the world’s biggest brands across multiple industries, predominantly in the payments and FX sectors, through a wide range of innovative products and services including; Dynamic Currency Conversion (DCC), Multi Currency Pricing (MCP), Tax Free Shopping and Retail FX. Fexco also offers bespoke Managed Business Solutions and Outsourcing services as well as a full suite of payment management solutions through its Corporate Payments business.
Since inception, Fexco has been driven by an entrepreneurial and innovative spirit. This ethos has brought the company to new regions and industries of growth, connecting customers with exciting new opportunities. Through its commitment to partnership and innovation, the company has built an international network of customers. To find out more visit www.fexco.com.