UnionBank Unveils Country’s First Ever Patent Wall

UnionBank Lauded by IPO for Huge Step Towards Digital Innovation

As the Philippines adapts to the new normal, UnionBank of the Philippines has been leading digital transformation through its efforts in innovative technology. Last September 8, 2022, UnionBank unveiled the country’s first ever Patent Wall inside the Bank’s newly erected Innovation Campus in San Pedro, Laguna.

The Patent Wall features the Bank’s patents certified by the Bureau of Patents of the Intellectual Property Office of the Philippines (IPOPHL). A total of sixteen (16) patents adorn the installation. All of them were secured through the efforts of MOSVELDTT Law, through a team headed by Darwin P. Angeles of MOSVELDTT’s Intellectual Property Department. The firm was engaged by UnionBank during the pandemic to be its legal counsel, in response to the need for intellectual property protection.

In attendance were Rowel Barba, Director General of IPOPHL, Edwin Bautista, President of UnionBank, Henry Aguda, Senior Executive Vice President/Chief Technology & Operations Officer of UnionBank, and Eugenio Ynion Jr., CEO of Shiptek Solutions.

During the program, UnionBank was hailed for its innovative efforts towards superior customer service and product development. Director General Barba, in his opening speech remarked “What sets UnionBank apart is that it took the approach in innovation to a higher benchmark, by thriving and conquering the paramount challenges of our time with an aggressive IP protection strategy.”

The Patent Wall [of Fame]

UnionBank’s patents embrace innovative technologies in the banking and financial service sectors. It is composed of blockchain technologies, artificial intelligence, and data analytics to provide the best digital banking experience for its customers. These technologies are known to the public as: UnionBank Mobile App, The Portal – Online Banking Facility, The Ark – Efficient Processing of Banking Transactions, Akin – Identity Verification, XLOG, i2i, PHX stablecoin, Financial Supply Chain, and GC Blockchain.

The Patent Wall serves as a memorabilia to the revolutionary efforts of both inventors and innovators of UnionBank. Its launch marked a milestone toward its innovative development and intellectual property protection that aims to shape banking and financial digitalization in the Philippines.