Necessity is the mother of all inventions. With the enhanced community lockdown enforced across Luzon because of the rampaging COVID-19 pandemic, Union Bank of the Philippines, one of the most innovative banks in the county is deploying the country’s first-ever 5G mobile banking kiosk to different areas in the country to help make banking services more accessible to customers.
Rolled out early this month, UnionBank’s “Bank on Wheels” is the Philippines’ first 5G-powered airconditioned banking kiosk in a mobile van that enables customers to conveniently and comfortably avail of banking services like balance inquiries, withdrawals, bills payments, funds transfer, and even account opening, without leaving their communities.
With 5G technology, UnionBank can leverage on higher bandwidth and faster internet connection—20 times faster than other networks available—which means better and more reliable digital services for the bank’s clients.
As of writing, the van is scheduled to go to the following areas in the next few days: Eastwood, Libertad Mandaluyong branch, and Makati Ave. branch, as well as the Commonwealth and Nova Gulod branches for the release of GSIS pension in these two branches by end of the week.
UnionBank chief technology and operations officer and chief transformation officer Henry Aguda said the bank is in constant pursuit of ways to bring its services closer to its customers as aligned with its advocacy to promote financial inclusion in the country. This is important as a lot of Filipinos are currently under lockdown.
“Banking services are among the most essential services for many people. However, access to these services has been very limited because of the health crisis that we are currently facing. By deploying a mobile banking kiosk that is powered by 5G technology, not only are we able to make banking more accessible to customers, we are also able to do so in a way that is faster and more efficient,” Aguda said.
“It’s all part of UnionBank’s goal of enabling inclusive prosperity for everyone, even in these very challenging times,” he said.