NOW, UnionBank forge 5G partnership

MANILA, Philippines — Publicly listed information and communications technology company NOW Corp. has forged an alliance with UnionBank of the Philippines for the use of next generation networks such as 5G.

NOW signed a memorandum of understanding (MOU) with UnionBank to utilize and promote the use of new generation telecommunication networks, including 5G, in support of the bank’s digital transformation roadmap.

“We are excited to work with UnionBank of the Philippines as we co-market the use of next generation networks which includes 5G,” NOW deputy CEO Rodolfo Pantoja said. 

“The potential for 5G in financial services would include reduced video lag for real-time video chat and consultations between bankers and consumers, full-power mobile pop-up branches, shift to the cloud for mobile banking, and more accurate fraud detection and cybersecurity,” he said.

UnionBank wants to be at the forefront of utilizing and promoting the use of new technologies in the banking system.

The MOU will allow both parties to undertake co-marketing activities to promote NOW’s broadband capabilities and UnionBank’s digital transformation, as well as technological products and services enabled by next generation networks including 5G which both parties may collaborate on.

Last week, NOW and UnionBank also entered into a multi-year agreement for the provision of guaranteed broadband internet access in support of the bank’s digital transformation roadmap.

The first activated site with a one Gbps broadband connectivity via fixed wireless is UnionBank’s corporate headquarters in Ortigas Center, Pasig City.

Both parties also agreed to explore utilizing NOW Fiber Air for its branches and for other sites owned and operated by the Aboitiz-led bank.

NOW Telecom, an affiliate of the publicly-listed company, is a grantee of a 25-year congressional franchise to engage in the business of providing telecommunications services throughout the Philippines and other countries and territories.

It was also granted by the National Telecommunications Commission an authority to install, operate and maintain cellular mobile telephone system services.

NOW is the country’s largest fixed wireless access (FWA) broadband provider, delivering guaranteed broadband services to enterprises as well as commercial and residential buildings through its Fiber Air technology,

NOW has established an FWA network infrastructure in Metro Manila and has connected more than 400 buildings with service coverage of up to two kilometers per building.