Capital Finance International (CFI.co) names UnionBank this year’s Best Digital Bank in Southeast Asia
Union Bank of the Philippines (UnionBank) further solidified its reputation as one of the leading digital trailblazers in the Asia-Pacific region after being named this year’s best digital bank among its peers in Southeast Asia by global economics, business and finance publication Capital Finance International (CFI.co).
CFI.co named UnionBank “Best Digital Bank – South East Asia 2022” for its exemplary performance within the past year, highlighting several of the Bank’s numerous achievements that have defined the said year and set it apart from its competitors not only in the Philippines but in neighboring countries in the region.
One of UnionBank’s milestones that was highlighted by CFI.co for the award was its acquisition of Citi’s consumer banking business in the Philippines, where both banks promised “a seamless transition and zero changes in service” with some 1,750 Citi employees joining UnionBank “upon close of the transaction, with expected completion in the second half of 2022.” UnionBank is widely recognized to be the leading digitally transformed and most innovative bank in the industry, which will ensure that it will deliver the same superior customer experience that Citi clients are used to.
CFI.co also recognized UnionBank’s “strong digital game with years of targeted investments now delivering results,” citing its “far-sighted vision and strategic preparation for the evolution of banking,” the significant increase in the adoption of its digital channels by new and existing customers, and how it intends to “compress five-year growth plans into a two-year window by accelerating the digital onboarding of new customers.”
Finally, CFI.co also noted the Bank’s award-winning and impactful digital campaigns which helped it “attract new clients and become one of the top three regional processors of InstaPay and PesoNet transactions.”
UnionBank Chief Technology and Operations Officer and Chief Transformation Officer Henry R. Aguda thanked CFI.co for recognizing its efforts and dedicated the award to the Bank’s employees. “This award is for all UnionBankers who continue to showcase their commitment to innovation and thinking outside the box in creating trailblazing digital banking solutions. May this inspire all of us to continue exceeding expectations, in line with our goal of ‘teching-up’ the country and the region through technology.”