ASIA United Bank Corp. (AUB) has partnered with the Philippine Statistics Authority (PSA) to allow individuals registering for a National ID to open an account on its e-wallet HelloMoney, which it expects to boost its customer base.
“AUB once again is marking another milestone with the PSA — becoming the first privately owned universal bank in the country to be a co-location partner. This collaboration means AUB will join the PSA in its in mobile registration activities, allowing unbanked Filipinos and underserved Filipinos who already registered with the National ID system to open a HelloMoney e-wallet account,” AUB President Manuel A. Gomez said in a speech during the signing of the memorandum of agreement with the PSA on Thursday.
AUB last year partnered with the PSA to become the first bank to integrate the National ID eVerify into its branch banking services. It is now using the eVerify system for its Know Your Customer process.
“Since Sept. 16, 2024 — when AUB pioneered the country’s first fully digital registration through National ID integration and made “your face is your ID” possible — we have already successfully gained around 94,000 new HelloMoney users as of Feb. 3, 2025,” Mr. Gomez said.
“With this, we expect our six million HelloMoney customer accounts to further grow, as we bring the benefits of the National ID closer to more Filipinos through this co-location agreement with the PSA.”
Mr. Gomez earlier said the bank plans to add new features to HelloMoney to boost its e-wallet market share, including offering microinsurance and digital savings.
AUB’s net income jumped by 71.44% to P3.35 billion in the third quarter of 2024 amid higher revenues. This brought its nine-month earnings to P8.78 billion, up by 40.97% year on year.
Its shares rose by P1.30 or 1.75% to end at P75.50 each on Thursday. — A.M.C. Sy