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Lester Cruz, Singlife Philippines Chief Executive Officer, and Wilfredo E. Rodriguez Jr., AUB Executive Vice President and Head of Operations and Technology Group hold press conference on Wednesday, Oct. 15.
Asia United Bank’s (AUB) e-wallet HelloMoney is targeting to grow its users to as many as 6.5 million by end-2025, riding on a new partnership with digital life insurer Singlife Philippines and a recent tie-up with the state-run Social Security System (SSS).
“Last year, we had about five million users. We’re growing about 1.2 to 1.5 million customers a year,” Wilfredo E. Rodriguez Jr., AUB executive vice president and head of operations and technology group, said during the launch of the bank’s deal with Singlife Philippines.
“Hello Money, as a wallet, has been steady in terms of revenue growth and in terms of customer acquisition. Since 2022, we’ve had one record year after the other, and it seems that that will continue this 2025 as well,” Rodriguez said, noting that among the major moves of the bank is its recent deal with SSS, which has around 40 million members.
AUB’s partnership with Singlife Philippines aims to enable the bank’s e-wallet applications to “bring the benefits of microinsurance to millions of Filipinos.”
Products under this cross-selling partnership can be accessed at Singlife Insurance Microsite, a fully digital platform that allows users to browse, buy, and manage life insurance products through AUB’s HelloMoney and Hello Pag-IBIG e-wallet apps.
“This innovation makes it easier for HelloMoney users to get insurance coverage without the need for tedious paperwork and face-to-face transactions,” AUB said in a statement released on Wednesday, Oct. 15.
Through the Singlife Shop on the HelloMoney app, users can avail of major products such as Cash for Income Loss (Accidents), which provides up to ₱1.8 million in coverage for accidental disability or death, and Cash for Medical Costs, which offers up to ₱1.3 million for hospitalization or for any of 125 covered critical illnesses.
For his part, Singlife Philippines CEO Lester Cruz said the life insurer grows its policyholders “by tens of thousands on a monthly basis.”
Besides the newly introduced products, Singlife and AUB also plan to introduce more insurance solutions to the HelloMoney app.
“By embedding our digital-first protection solutions into the HelloMoney app, we’re not just offering convenience but also empowering more people to take charge of their financial future with confidence, control, and ease. This is a big step towards transforming how Filipinos experience insurance,” Cruz said.
Last week, SSS rolled out its improved MySSS Card, which now also functions as a debit card. AUB is among the partner banks of the state-run insurer where the MySSS Card will be exclusively issued.
