News
News Categories

UnionBank launches The Ark as PH's first fully-digital bank

By Nestor Domingo Jr - on 19 Dec 2017, 5:16pm

UnionBank launches The Ark as PH's first fully-digital bank

The first fully-digitalized bank in the country was unveiled in late November, just in time for the holiday season.

bank, digital, unionbank

The ARK by UnionBank is the bank’s latest product that relies on digital technology to augment an actual banking experience. It promises to bring a new digital platform experience in banking by aiding the hassles of which the customers are baring every time, making UnionBank live to its pledge of being at the forefront of technology-based banking in the process.

“The ARK was established by UnionBank to address the common pain points in banking. Falling in line, getting a number before being attended to, spending a lot of time in the bank which could have been used in, otherwise, more productive endeavors. It is also meant to satisfy the diverse and changing needs of our customers,” said Edwin R. Bautista UnionBank President and COO.

Furthermore, The Ark by UnionBank is poised to provide an interactive experience -- far different from being a transactional space. It could also be used as a third space for different communities to gather with ease.

“The ARK provides a service unlike any other.  There are no lines, no numbers, hardly any forms to fill up, just highly-trained bank ambassadors ready and happy to give personalized service to each and every client. Every client here receives the proverbial VIP service,” Bautista adds.

Prior to launching, UnionBank chairman Justo A. Ortiz has already foreseen The ARK as the bank of the future.

“UnionBank trailblazed digital banking in the Philippines and we continue with our efforts to use technology and enhancing digital banking capabilities in order to provide the best customer experience for our clients,” said Ortiz.

The launch of The Ark by UnionBank came after the bank earned several recognitions from banking awards here and abroad. UnionBank was even hailed by Bangko Sentral ng Pilipinas (BSP) governor Chuchi Fonacier for its innovations that keep up with the international banking standards and are future-ready.

In addition, Fonacier said BSP has cited financial technology as both an opportunity and challenge to the banking sector with its records showing that 25% of current bank clients using mobile banking technologies in their transactions and will be expected to grow exponentially soon.

“Our banks need to be equipped with sound digital strategies for them to cope up with these digital innovations to better serve their clients. BSP will also be aggressively pursuing reforms to support our banks through an enabling regulatory environment,” said Fonacier.