SINGAPORE, June 4, 2019 /PRNewswire/ -- Union Bank of the Philippines is to receive five Awards at the annual Frost & Sullivan Asia-Pacific Best Practices Awards banquet, to be held at the Shangri-La Singapore. The awards received include the 2019 Frost & Sullivan Excellence in Customer Experience for the Philippines Banking Industry in the areas of Overall Experience, Branch Experience, ATM Experience, Mobile Experience and Net Promoter Score.
Edurra Talib, Senior Analyst, Customer Research, Frost & Sullivan noted that the bank has continually worked on revolutionizing its business through technology.
"In line with the ongoing structural change in the global banking industry, Union Bank is undergoing digital transformation over the past few years. The bank is performing well beyond the trail of innovation, completely transforming its banking capabilities and enhancing customer experience. Its aim of becoming 'core in digital' is driving Union Bank to introduce several fundamental innovative solutions that focus on their business and customers," Edurra explained.
These awards acknowledge that the bank's customer-driven strategy has proven to be the right decision as customers are rewarding it with continued loyalty. This approach is propelling the company to greater heights and the attainment of regional standards and best practices. By achieving a major milestone in developing fully-digital bank branches, Union Bank is integrating its services with customer interaction channels, she noted.
"The bank also introduced a pioneering banking branch which provides seamless digital banking services and employs 'Branch Ambassadors,' specially-trained personnel who can assist customers with these digital services and address their enquiries. These strategies are successfully transforming its services toward digitalization and enabling superior customer experience," she explained.
"We are extremely proud to be presented with the 2019 Frost & Sullivan Excellence in Customer Experience for the Philippines Banking Industry in the areas of Overall Experience, Branch Experience, ATM Experience, Mobile Experience and Net Promoter Score," said senior vice president Ana A. Delgado, chief customer experience officer at UnionBank.
The recipients of the annual Frost & Sullivan Best Practice Awards were identified based on in-depth research conducted by Frost & Sullivan's analysts. The award categories offered each year are carefully reviewed and evaluated to reflect the current market landscape and include new emerging trends. The short-listed companies were evaluated on a variety of actual market performance indicators which include revenue growth; market share and growth in market share; leadership in product innovation; marketing strategy and business development strategy.
About Union Bank of the Philippines
UnionBank has consistently been recognized as one of Asia's leading companies in banking and finance, ranking among the Philippines' top 10 universal banks in terms of key performance ratios in profitability, liquidity, solvency and efficiency. UnionBank garnered a record-breaking number of awards and recognitions in the past three years, including "Asia's Best Bank Transformation" from Euromoney; back-to-back "Best Digital Bank Philippines" from Asiamoney; back-to-back "Digital Bank of the Year Philippines" from The Asset Triple A Awards; Digital Transformer of the Year Philippines" from IDC's DX Awards Philippines; "Bank of the Year Philippines" from International Investors Business Awards; "Best Universal Bank" from Capital Finance International; "Domestic Retail Bank of the Year Philippines" from Asian Banking & Finance; "Best Innovation in Retail Banking; "Most Innovative Bank of the Year" from The European - Global Banking and Finance Awards; Gold - Employer of the Year (Banking) from Stevie Awards for Great Employers; "Digital Banking Initiative of the Year - Philippines" and "Online Banking Initiative of the Year - Philippines" from the Asian Banking and Finance; "Best Digital Bank" from The Asian Banker; and "Best Digital Bank Philippines"; "Most Innovative Cash Management Services Bank Philippines" from Global Banking and Finance Review; and "Champion - Best Bank in Digital Financial Inclusion" from Bankers Institute of the Philippines.
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SOURCE Frost & Sullivan