UnionBank rolls out digital PERA onboarding to simplify long-term investing for Filipinos

UnionBank of the Philippines has introduced a new feature on its mobile app that allows customers to open a Personal Equity and Retirement Account (PERA), marking a step toward making long-term savings and retirement planning more accessible through digital channels.

Developed in collaboration with the Bangko Sentral ng Pilipinas (BSP) and ATRAM Trust Corporation (ATC), the feature enables users to set up a PERA account directly within the UnionBank Online app. PERA is a voluntary savings and investment program backed by the BSP, designed to help individuals build funds for retirement and other long-term financial goals.

The move comes as financial institutions and regulators push for stronger personal financial planning amid changing economic conditions.

While government pension systems such as the Government Service Insurance System (GSIS) and Social Security System (SSS), along with employer-provided retirement plans, remain key pillars, these may not always be enough to cover future needs.

By offering PERA through a fully digital process, UnionBank aims to lower the barriers typically associated with investment onboarding.

Customers can open an account without going through multiple forms or document submissions, and can begin investing in BSP-accredited products that are structured for long-term growth.

ATRAM Trust Corporation serves as UnionBank’s trust partner for the initiative, handling administrative functions and expanding the range of available investment options for users.

UnionBank President and CEO Ana Aboitiz Delgado said the integration is designed to make financial planning more accessible.

“We believe that preparing for the future should be simple, inclusive, and accessible to every Filipino,” she said. “By fully digitizing PERA onboarding within UnionBank Online, we are removing traditional barriers to long-term investing and enabling our customers to start building financial security earlier, conveniently and confidently”.

The bank positions the launch as part of a broader push toward financial inclusion, aligning with BSP’s efforts to encourage Filipinos to adopt structured savings and investment habits. The platform is also designed with security features aimed at supporting long-term account management.

UnionBank said the current rollout is only the initial phase, with plans to expand the experience into a fully integrated journey covering onboarding, investment management, and account monitoring within a single digital environment.

The addition of PERA to UnionBank Online reflects a wider shift in Philippine banking toward digital-first financial services, where traditional investment tools are increasingly being embedded into everyday banking apps.

With the feature now live, UnionBank is betting that easier access and simplified processes will encourage more Filipinos to start building long-term savings earlier, positioning PERA as a practical complement to existing retirement systems.