Based on its recent analysis of the Philippines’ customer experience solutions in the banking industry, Frost & Sullivan honored UnionBank of the Philippines (UnionBank) with the 2020 Philippines Excellence In Customer Experience in ATM Ambience Experience and In Online Customer Experience.
The award is in recognition of the bank’s initiatives to stay ahead of the demand curve by offering best-in-class, personalized customer experience with robust 24/7 services.
Frost & Sullivan is a business consulting firm known for helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success.
“UnionBank has ramped up its digitalization efforts in the past few years. A customizable system, self-service options, and personified robot assistant are among the digital options available to customers, half of whom now transact digitally,” said Edurra Talib, senior research analyst. “The bank also became the first in the Philippines to launch the smart branch leveraging 5G technology for seamless connectivity with internet of things (IoT)-enabled services.”
Combining 5G and artificial intelligence (AI), UnionBank can better anticipate customers’ preferences and behaviors through. This continuous and data-driven innovation has helped the bank deliver enriched customer experiences.
Frost & Sullivan presented this award to the banks that demonstrate outstanding performance for branch, specifically ATM ambience and online experience. The bank has used the customer experience framework of process, space, and people in its digitization process, bridging offline with online to deliver a seamless customer experience.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.