Union Bank of the Philippines (UnionBank) is relentless in its pursuit to transform into a Digital Bank, with a culture of innovation and experimentation changing the way how the UnionBank engages with clients and employees alike. Digital transformation is evident in all aspects of the business with projects including the use of artificial intelligence in customer-facing chatbots, deployment of an open API strategy for its partners, and implementation of Robotic Process Automation in centralized backroom operations for the creation and submission of financial reports and in other tasks leading to a decrease of up 80% in processing time.
The bank has also given focus to improving customer experience through the launch of its new mobile app and website, which has driven customer interactions from 26% to 98% of all total customer interactions since 2017. Its most recent initiative is The Ark, UnionBank’s first fully digital lifestyle branch. The Ark champions an interactional experience rather than a transactional space, with features that allow customers to open new accounts in less than 10 minutes with virtual telling machines and apply for home and auto loans with augmented and virtual reality experiences.