SINGAPORE - Media OutReach - 30 September 2019 - UnionBankof the Philippines' (UnionBank) globally-awarded API Marketplace (developer.unionbankph.com) is enablingfintechs to scale growth through co-creation and reaching a wider audience fortheir APIs. It is one of the largest in Asia with over 200 open APIs, and aregional network with connectivity to the ASEAN Financial Innovation Network(AFIN) and its API Exchange (APIXplatform.com) --an initiative by the International Finance Corporation (IFC) and the MonetaryAuthority of Singapore (MAS) to create digital infrastructure that enablesinclusive prosperity in the region.

UnionBank's API Marketplace allows fintechsand other innovative companies to tap into banking and other functionalities sothese are offered at speed to customers in ways that are highly personalized.As UnionBank is the first and only Philippine bank in AFIN, it is thePhilippines' international gateway and publishes APIs from its Marketplace tothe region-wide APIX platform.

Towards collaboration and ecosystembuilding, the API Marketplace opens its doors to many API publishers including thosefor non-banking functionalities. These fintechs and tech companies canreach a wider consumer base, whether this be other fintechs that serve theunbanked, or even UnionBank and its account holders.

Fintech endpoints for cash payout and giftvouchers are already online, while bills payment, micro-investment,micro-insurance and digital credits among others will be available soon.

For UnionBank, opening up its APIs and theMarketplace fulfills its purpose of elevating lives and enabling communitiesthrough smart banking as this promotes inclusion by making financial services accessibleto a greater customer base, many of which in the developing world are the unbankedpopulation and SMEs. It is also a way for the bank to collaborate and gaininsight into innovative financial services that customers are in need of.

Since the start of the year, theMarketplace has given the bank access to over 30 million Filipinos who consumeits APIs via fintechs UnionBank collaborates with. By end-2019, nearly 40% offintechs in the Philippines alone will be powered by APIs on UnionBank'sMarketplace.