UnionBank wins Digital Bank of the Year

Union Bank of the Philippines (UnionBank), the country’s best digital bank, bagged five of The Asset Triple A Digital Awards 2018.

UnionBank officials led by president and CEO Edwin Bautista received the awards in a ceremony held last Tuesday at the Four Seasons Hotel in Hong Kong.

This latest slew of recognitions from The Asset, dubbed the financial magazine for Asia’s decision-makers, to UnionBank further validates the bank’s visionary and industry-leading digital transformation.

These awards include the Digital Bank of the Year-Philippines (a repeat from the previous year), Best Retail Mobile Banking Experience, Most Innovative Core System Project (for its API management platform), Most Innovative Digital Branch Project (for The ARK all-digital branches) and Most Innovative Emerging Technologies Project (for its internally created blockchain-based system for archiving general circulars from regulatory bodies as well as internal procedural guidelines).

The Asset Triple A Digital Awards 2018 is a set of awards that recognize the best in Asia that have embraced digital as the next step to better serve their client base. Winners are carefully selected by The Asset’s board of directors who collectively has several decades worth of experience evaluating industry awards in the Asia-Pacific and the Middle East.

The Asset said UnionBank has become a pioneer in its markets for the past 12 months, “embracing the latest in technology such as blockchain and open banking API in lockstep with its global banking peers.”

UnionBank — which has invested heavily on technology and IT by allotting a huge portion of its budget for digitization — has reaped numerous local and international awards in cognizance of its transformation initiatives.