Union Bank of the Philippines (UnionBank) continues to reap the benefits of its digital advocacy, securing notable accolades at The Digital Banker’s Global Retail Banking Innovation Awards, which were recently held at the Raffles Hotel in Singapore.
UnionBank achieved the distinction of being the first Philippine bank to launch an app for SMEs, with “UPAY for MSMEs” recognized as the “Best Smart Payments Solution by an SME Bank.” The award recognized the Bank’s sustained growth in active merchants on the platform, marked by a significant 108% increase in 2022. The Digital Banker acknowledged UnionBank’s “TECH UP Pilipinas” nation-building advocacy initiative, which aims to advance financial accessibility in the country through digital innovations.
“This award is a testament to UnionBank’s commitment to Tech-up the nation,” stated Dino Velasco IV, Head of Institutional Segment Marketing.
In the “People Awards” category, The Digital Banker presented the “Best Relationship Manager of the Year” award to Justin Richmond T Dy, a UnionBank Senior Relationship Manager & Vice President for Financial Services and Insurance Brokerage. The award recognized his remarkable achievement of generating a total revenue of PHP 21.5 million (USD 430,000) for the bank and consistently expanding his High Net Worth (HNW) client base by 11% through strategic client engagement and informed portfolio management.
“This recognition serves as a reminder of the responsibility that we have to uphold the highest standards of excellence and integrity in the world of wealth management,” expressed Justin Dy.
UnionBank’s accolade collection was capped off with the “Retail Banker of the Year – Philippines,” awarded to Therese Chan, Director and Head of Wealth Management and Brokerage. The Digital Banker commended Ms. Chan for her successful leadership during a period of change, her adept handling of employee concerns, and her focus on enhancing the overall client experience. Her efforts were pivotal in driving client engagements, retaining the bank’s client base, and securing a remarkable 65% growth in new-to-bank HNW clients in Q4 2022.
“I want to extend the award win to the Consumer Wealth team of UnionBank, for taking care of both Citi PH HNW clients and now the larger HNW team,” noted Therese Chan upon receiving the award.
The Global Retail Banking Innovation Awards (GRB Awards) recognize leading banks worldwide that are at the forefront of product and service innovation. These awards, both institutional and individual, underscore UnionBank’s pivotal role in shaping the future of the banking industry. The consistent recognition from esteemed local and regional award-giving bodies exemplifies the bank’s unwavering commitment to innovation and excellence in delivering world-class banking solutions to its valued customers. On its path to becoming a Great Retail Bank, UnionBank is dedicated to enabling the Philippines in its aspirations to become a G20 country by 2050.
