SSS, UnionDigital eye micro lending program

MANILA, Philippines — State-run Social Security System (SSS) and the digital banking arm of Aboitiz-led Union Bank of the Philippines are working on a micro lending program for members of the pension fund.

In a statement, SSS said its president and CEO Robert de Claro recently met with UnionDigital Bank president and CEO Danilo Mojica II to discuss partnership opportunities.

SSS is coordinating with UnionDigital in developing and implementing a micro lending program for SSS members with 15 to 90-day tenor.

This is aimed at making transactions with SSS easier especially for overseas Filipinos. The move is also part of the digitalization thrust of the pension fund for the private sector.

“We look forward to further enhancing service delivery to all Filipino workers – service being our main thrust under this administration,” De Claro said.

Both parties are expected to sign a memorandum of agreement once details are finalized.

Mojica, for his part, said the digital bank is supportive of SSS’ digitalization and service delivery efforts.

A wholly owned subsidiary of UnionBank, UnionDigital aims to make banking more safe and accessible to Filipinos, empowering the country’s digital economy.