Union Bank of the Philippines (UnionBank) ranked first in Asiamoney’s 2020 Cash Management Survey as Best Service Bank among domestic banks as voted by corporations.
“This recognition is a testament to our customer-centric approach in designing and delivering our products and services. In 2020, the Bank was devoted to make transactions easier for all our clients – individuals, corporations and MSMEs,”
Ramon Duarte, Transaction Banking Center Head of UnionBank
UnionBank stands out as a digital pacesetter relative to its peers in the country as its continuous revolutionary digital innovations remain ahead in the financial services space while simultaneously enhancing customer experience and enabling sustainable financial inclusion.
The Portal, its digital banking platform, is specially designed for corporate clients. Offering a host of solutions that include bills payments, payroll, fund transfers, check writing services, merchant payment gateway systems, and credit facilities, The Portal provides corporations with all their essential banking needs in a single platform. Knowing that each corporate entity has needs and priorities that are uniquely theirs, The Portal was designed in a way that allows it to provide utmost flexibility to clients, making it the preferred platform for those who don’t want the one-size-fits-all approach of most competitors when it comes to the corporate banking solutions they offer.
UnionBank FSC is the First Financial Supply Blockchain in the Philippines™, providing a unique and beneficial experience for the Filipino SME supply chain by combining the power of Blockchain and friendly user interfaces of Portal/Business Banking, to allow Filipino SMEs access to formal credit and digital cash management services.
FSC programs are specifically designed to help Filipino supply chain communities to benefit from better cashflow management. The Products target Corporate anchors with communities of SME buyers or suppliers, allowing the SMEs to benefit from their relationship with the corporate anchor, and allowing the anchor to benefit from better cashflows of their SMEs and automated collections or disbursement.
UnionBank FSC is built whithin the Portal, ensuring friendly user interfaces and access to its services anywhere with internet.
Amidst the pandemic, the Bank launched and piloted UnionBank FSC’s credit products allowing them to perform automated financial services at the comfort of their own homes or offices truly supporting the Tech Up Pilipinas initiative of digitizing Filipino SMEs through inclusive digital services. Amidst the pandemic, the pilot has generated 2.4 Billion in loans and 2,636 in community leads.
Asiamoney’s 2020 Cash Management Survey rankings are derived from the votes collected in Euromoney’s global Cash Management Survey. The survey received over 32,871 valid non-financial institution responses. Asiamoney ranked the top overall banks including an Asia and domestic banks only ranking in 15 different Asian jurisdictions as part of our annual cash management survey of cash managers, treasurers, and financial officers.
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