Union Bank of the Philippines (UnionBank) continues to solidify its position as the unrivaled digital leader in the country’s banking industry. Recently, it achieved an unprecedented feat by clinching the esteemed “Digital Bank of the Year” award from renowned financial news and research publication The Asset Triple A for the sixth consecutive year. This remarkable achievement firmly establishes UnionBank as a digital powerhouse, creating a Digital Dynasty within the Philippine banking sector.
The bank’s unwavering commitment to digital transformation has been the driving force behind its remarkable growth in recent years. By placing a strong emphasis on client experience, embracing innovation, and delivering superior outcomes, UnionBank has redefined mindsets and emerged as the preeminent digital bank in the Philippines. A notable testament to its success was the acquisition of Citi Philippines’ consumer banking business, completed within a year of its winning bid at the end of 2021. With the integration well underway, UnionBank has set the stage for the next phase of its expansion, further augmenting its market share and maintaining a competitive edge.
UnionBank embarked on its digital transformation journey over seven years ago, long before other banks and industries in the Philippines recognized the critical importance of digitalization. The vision has always been to pioneer digital banking and become an exceptional retail bank.
What sets the Bank’s digital transformation journey apart is its unwavering commitment to ensuring that no one is left behind. Beyond merely digitizing its assets and capabilities, UnionBank ensures that no customer, colleague, or Filipino citizen is left behind.
Since securing its first “Digital Bank of the Year” award from The Asset in 2017, UnionBank has consistently remained at the forefront, introducing innovative solutions that redefine the future of banking. Its commitment to innovation has propelled it miles ahead of the competition.
UnionBank President and CEO Edwin R. Bautista attributes the bank’s phenomenal success to its customers, stating, “As we embarked on our journey, our internal rallying cry was ‘we need to move from being a bank to a tech company with a banking franchise.’ Innovation became our obsession. However, without customer centricity, innovation could become an end in itself rather than a means to an end. We often remind ourselves, lest we forget and get carried away, that digital transformation is anchored in placing the customer at the center.”
The Asset Triple A Digital Awards, held annually, recognizes financial institutions and technology firms that have excelled in innovation and developed unique digital experiences for customers across the Asia-Pacific and Middle East regions. With numerous financial institutions, technology vendors, and digital service providers vying for recognition each year, the awards undergo a rigorous selection process conducted by The Asset’s board of editors to identify the crème de la crème of the industry.
