UnionBank combines the power of 5G and artificial intelligence to anticipate customer preferences and behaviors
Based on its recent analysis of the Philippines mobile banking experience market, Frost & Sullivan recognizes UnionBank of the Philippines with the 2021 Excellence in Customer Experience for advancing mobile banking technology in the Philippines. The bank has proved its ability to innovate consistently and ensure a seamless customer experience.
“UnionBank became the first publicly listed traditional bank to receive a digital banking license from the Philippines’ central bank,” said Edurra Talib, Senior Research Analyst, Customer Analytics. “It has embarked upon a digitalization drive to extend ePayment services to 70% of its customers by 2023 as the demand for digital services gets louder.”
UnionBank became the first in the country to leverage 5G technology to launch the smart branch with Internet of Things (IoT)-enabled services. The bank’s highly customizable system, self-service options, and robot assistant have elevated the quality of customer interactions. This commitment to continuous, data-driven innovation has helped the bank enhance service delivery along the entire customer journey.
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“Overall, UnionBank’s one-stop mobile app hub for the enterprise customer segment has helped it accelerate technology adoption among customers and established it as a company offering a differentiated customer experience,” noted Talib.
Each year, Frost & Sullivan presents this award to the bank that demonstrates outstanding performance for branches, specifically ATM ambiance and online experience. The recipient has employed the customer experience framework of process, space, and people in its digitization process, bridging offline with online to deliver a seamless customer experience.
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Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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