THE SOCIAL Security System (SSS) is set to partner with UnionDigital Bank, Inc. to develop a micro-lending program for its members and for technical assistance for the agency’s ongoing digitalization.

The state pension fund said its President and Chief Executive Officer (CEO)Robert Joseph M. De Claro and UnionDigital Bank President and CEO Danilo “Bong” J. Mojica II discussed partnership opportunities during a courtesy visit by the latter to the SSS office on May 30.

“SSS has agreed in principle to coordinate and work with UnionDigital Bank in developing and implementing a micro-lending program for SSS members with a 15- to 90-day tenor, making matters easier for overseas Filipinos to transact with SSS, and transferring of technology as SSS goes through digitalization,” it said in a statement on Monday.

The two parties are set to sign a memorandum of agreement for the partnership, it added.

“Through our partnership with UnionDigital Bank, we look forward to further enhancing service delivery to all Filipino workers — service being our main thrust under this administration,” Mr. De Claro said.

“UnionDigital Bank fully supports SSS in its digitalization and service delivery efforts and commits to cooperate in any way to achieve these goals,” Mr. Mojica said.

UnionDigital is one of the six Bangko Sentral ng Pilipinas (BSP)-licensed digital banks in the country. It secured its license in July 2021 and began operations in July 2022.

Its total assets stood at P19.45 billion as of end-2024, latest data from the BSP showed.

UnionDigital’s listed parent Union Bank of the Philippines, Inc. saw its attributable net income decline by 28.93% year on year to P1.43 billion in the first quarter due to one-time write-offs from a subsidiary and front-loaded non-recurring costs.

UnionBank’s shares closed at P33.15 apiece on Monday, up by 10 centavos or 0.3% from Friday’s finish. — A.M.C. Sy

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