UnionBank Accelerates Cloud Transformation Vision to Drive Financial Inclusion in the Philippines

UnionBank Accelerates Cloud Transformation

Harnesses VMware Cloud on AWS and VMware’s comprehensive cloud portfolio to modernize its IT infrastructure, improving agility, time-to-market and flexibility to empower the new digital banking paradigm in Philippines

VMware, Inc. (NYSE: VMW), a leading innovator in enterprise software, today announced Union Bank of the Philippines (UnionBank), a leading Universal bank in the Philippines and a digital trailblazer in Asia Pacific, has deployed VMware Cloud on AWS as part of its cloud-only IT transformation vision to become a leading digitally-enabled bank in the country. As cloud technologies continue to disrupt traditional banks and power the digital future of banking as an innovation catalyst, a more trusted digital foundation will support the Philippines’ financial ecosystem in accelerating innovations. The VMware Cloud on AWS deployment will provide UnionBank with the flexibility and agility for exponential growth and faster response time to consumer needs, enabling the Bank to drive greater financial inclusion in the Philippines.

According to VMware’s recent Digital Frontiers 3.0 study exploring consumers’ behaviors, preferences and attitudes towards digital services and experiences in 2020(1), 77% of Filipino consumers surveyed have defined themselves as “digitally curious” or “digital explorers”. As such, forward-looking organizations in the Philippines need to transform their business models by integrating next-generation technologies such as Cloud, app modernization and more to deliver customer-led innovations and experiences that are seamless, personalized and secure. As a leading bank for innovation in the Philippines, this is even more urgent for UnionBank as it aims to improve access to financial services for its unbanked and underbanked consumers across the nation amidst a pandemic.

“Despite the reduced physical interactions last year, we managed to attract 24 million new accounts with a large portion coming from digital account opening. This signals the pivotal shift that Philippines is making towards digital banking, and as the leading bank in the country, we are on a constant pursuit of innovative banking services to deliver digital experiences that will best serve our customers’ needs,” said Senior Executive Vice President Henry R. Aguda, Chief Technology & Operations Officer and Chief Transformation Officer at Union Bank of the Philippines. “As such, we are pleased to work with VMware to supercharge our innovations and build a stronger, resilient ecosystem and empower Filipino businesses with the right tools and platforms to accelerate business growth as we continue to shape the digital future of banking in Philippines.”

Leveraging VMware Cloud on AWS can provide UnionBank with the power of flexibility in its multi-cloud strategy, while enabling the Bank to improve agility, scalability, time-to-market and gain faster recovery from deployment failures. In addition, the bank reports that it expects to generate savings of more than 30% over five years and achieve return on investment in less than 18 months(2). Additionally, the VMware Cloud Universal subscription will allow UnionBank to gain greater flexibility, simplicity and portability from a single cloud operation. These improvements will pave the way for the Bank to respond much faster to consumer needs by expanding accessibility for consumers in underserved areas where ATMs and bank branches are scarce or unavailable, and in turn, accelerate its transformation journey to become a leading digitally enabled bank for its Filipino customers.

For many successful digital transformations, organizations need not only the right tools and platforms, but also the right culture that embraces innovations. In addition to designing a platform that is optimized to UnionBank’s unique business needs, VMware consultants have worked closely with the teams, providing the expertise to help them unleash the full potential of their multi-cloud strategy while protecting their IT investments.

“UnionBank has always been committed to deliver superior digital experiences to its customers. With Filipino consumers becoming increasingly digitally savvy, it is crucial for our local banks to harness next- generation technologies such as Cloud and modern apps to boost consumer experience, trust and build a financially inclusive Philippines,” said Walter So, Country Manager, VMware Philippines. “As UnionBank continues to focus on pushing the envelope on digital transformation, VMware is excited to be part of their transformation journey. Through VMware Cloud on AWS, we are committed to building a strong digital foundation for UnionBank to accelerate modern applications and empower the bank with an end-to-end holistic approach from designing applications and integrating our solutions with their operations to respond, adapt and accelerate growth, agility and business innovations in today’s new digital paradigm.”

 

___________________

  1. VMware Digital Frontiers 0 Study, March 2021, n=1000
  2. AWS Press Release reprinted on The Asian Banker, “Union Bank to become first major Philippine bank fully hosted in the cloud” May 19, 2021

 

Shopping Cart

Media Kit

    Data Protection

    The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

    The Digital Banker Summit

    Moving on from FTX: is 2023 the year of CBDCs?

    Indonesia, Jakarta

    Thailand, Bangkok

    Philippines, Manila

    Contact Us

      Data Protection

      The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

      Request Nomination Pack

        Data Protection

        The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

        Registration Form

          Data Protection

          The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

          Registration Form

            Data Protection

            The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

            Registration Form

              Data Protection

              The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

              Registration Form

                Data Protection

                The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                Registration Form

                  Data Protection

                  The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                  The world’s preeminent Private Banks and Wealth Managers are demonstrating a committed drive in innovation, advisory, new products and services to meet the sophisticated needs of their clients.

                  COVID-19
                  Amid economic activity revival on the back of the Covid-19 vaccine program, organisations moving from business continuity plans to stable working environments, together with the slightest improvement in unemployment numbers, forced the world to adjust to new realities. Coming to terms with the “new normal”, global investors are now on the look-out for attractive and stable investment opportunities.

                  Needs of Private Wealth customers and families worldwide have drastically changed due to the pandemic and banks have had to accelerate efforts to deploy a multi-channel service strategy and safeguard clients’ businesses and wealth against negative impacts of economic uncertainly.

                  The Global Private Banking Innovation Awards will recognise the world’s best private banks, wealth managers and asset managers that are championing innovation across advisory, service, products, customer experience and more.

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. 

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

                  Request Nomination Pack

                  Error: Contact form not found.