Digital transformation has become paramount, and the banking industry faces the challenge of modernising its systems to meet the evolving needs of its customers.
This challenge is particularly acute in the Philippines. This country has seen rapid technological advancements and a growing demand for personalised banking experiences.
The latest development in this field comes from UnionBank of the Philippines, which has adopted an AI-powered cloud data management solution to elevate customer service and enhance security.
UnionBank, one of the country’s top banks in embracing cloud and AI technologies, has recently expanded its customer base to over 12 million, including more than a million from its acquisition of Citibank’s retail banking business.
This expansion necessitates a robust system providing reliable, near real-time information, crucial for initiatives like Know Your Customer (KYC), fast customer onboarding, and advanced analytics.
The solution comes from Informatica’s intelligent Master Data Management (MDM) Software as a Service (SaaS), integral to UnionBank’s cloud-first digital transformation strategy.
This AI-powered platform lets the bank create a comprehensive 360-degree view of its customers.
By recognising unique customers and their relationships with the bank, UnionBank can offer highly personalised services based on a single, real-time source of trusted data.
UnionBank’s capabilities in combating fraud and money laundering while adhering to strict regulatory requirements.
“UnionBank remains committed to serving the Filipino community by driving technological innovation and adopting best-in-class, industry-leading solutions to deliver a superior financial services experience,” said Wilfredo Montino Jr., chief data officer at UnionBank of the Philippines.
He emphasised the bank’s focus on leveraging a single AI-driven platform to make trusted customer data more accessible, matching the bank’s growth with scalability in the cloud.
Steven Seah, managing director for Informatica ASEAN, India and Korea, commented on this partnership, “Informatica is a transformational leader in AI-powered cloud data management, and UnionBank is a pioneer embracing technological innovation to empower its customers.”
“We look forward to manifesting this synergy to help the Philippines’ financial services leaders like UnionBank to drive financial inclusion and improve customer experience with trusted data at its centre,” he said.
Seah further added that the adoption of Informatica’s industry-leading MDM services, available natively on the IDMC platform, will enable UnionBank to accelerate its strategic vision by providing consistent, trusted data to deliver exceptional customer experience to its customers.
