The first and only Philippine bank honored with this distinction
Internationally renowned card payment services corporation Visa recently honored Union Bank of the Philippines (UnionBank) with the Champion Security Award for 2023. UnionBank is the first and only Philippine bank to receive this prestigious recognition, and according to Visa, no other bank in the Asia Pacific region has achieved this in the last 5-10 years.
“UnionBank has distinguished itself through its exceptional performance across several key metrics assessed by Visa’s risk team,” said Jeff Navarro, Visa Philippines Country Manager. “We commend the Bank’s capabilities in managing issuing fraud rates, issuer authentication approval rates, acquirer fraud rates, and risk program identifications.”
The Champion Security Award, established by Visa nearly a decade ago, annually honors exceptional clients from various sub-regions including Indonesia, the Philippines, Vietnam, Myanmar, and Cambodia for their outstanding efforts in combating fraud and advancing innovations in cashless payments and transactions. Last year, Visa introduced country-level recognition, selecting one recipient annually.
“We are very grateful to Visa for recognizing UnionBank’s extensive efforts in providing secure, efficient, and innovative card and digital payment options for our users,” said UnionBank Senior Vice-President Christopher Go. “Given the progress we have made in card acquisition and management this year, the Bank is committed to maintaining and surpassing the high level of service we provide our customers.”
UnionBank is also a contender for Visa’s regional level awards. This recognition, along with previous accolades such as Marketing Company of the Year at the 42nd Agora Awards and Best Retail Bank in the Philippines at The Asian Banker’s Global Excellence in Retail Awards 2024, underscores UnionBank’s dedication to delivering a superior, innovative, and secure banking experience for its customers.
Union Bank of the Philippines is regulated by the Bangko Sentral ng Pilipinas https://www.bsp.gov.ph. For more info, please visit our website www.unionbankph.com, or follow for updates on Facebook, X (formerly Twitter), Instagram, or YouTube.
