The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
UnionBank of the Philippines (UnionBank) offers personal banking, investment and trust business banking, and other related financial solutions and services. Its portfolio of offerings comprises a range of accounts and deposit services, which includes savings, checking, and time deposits; card products such as debit, credit, and prepaid cards; and lending solutions for home, motor, personal requirements, businesses, mortgages, and corporates.
UnionBank has embraced digital technologies like mobile, conversational platforms, blockchain, and data analytics as well as digital engagement channels to offer on-demand customer experiences.
The bank is beefing up its AI and data analytics capabilities to streamline processes and strengthen its operations. It is also training its analytics team with behavioral science knowledge and expertise.
In 2018, UnionBank established UBX Philippines, its new fintech and innovation arm, to explore new ideas and business models, invest in and collaborate with fintechs and technology platforms, and develop emerging products and solutions.
This report explores UnionBank of the Philippines’ digital transformation strategies. It provides extensive insight into its technology initiatives, covering partnerships and product launches. In addition, the report includes details of the company’s estimated ICT budget for 2020.
- UnionBank is tapping into key disruptive technologies including AI, augmented reality, blockchain, biometrics, cybersecurity, the cloud, fintech, open banking, mobile, online and mobile payments, digital assistants, digitalization, and RPA to boost operational efficiencies, improve product offerings, and enhance the customer experience.
- UnionBank has been strengthening its internal capabilities against digital disruptions by building technology expertise, empowering its staff through technology training, developing technology platforms, and focusing on agile and collaborative platforms.
- UnionBank has realigned its strategies to serve its customers in a safe manner amid the COVID-19 pandemic. The company has introduced and co-created several digital and emerging technology solutions to strengthen its services while ensuring the safety of its customers and employees.
- UnionBank introduced ARK, its first fully digital bank branch, in partnership with Appian. It’s a self-service banking branch wherein customers can do their banking through a tablet without waiting in long queues.
Reasons To Buy
- Gain insights into UnionBank’s fintech operations.
- Gain insights into its digital strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various partnerships.