Union Bank of the Philippines (UnionBank) is building an innovation campus that will serve as hub for research and development that will further boost its digital capabilities.
Located in Laguna, south of capital Manila, the campus will house various centers of innovation within UnionBank, including its institutes on Data Science and Artificial Intelligence, Blockchain, its digital bank EON, as well as the recently launched Asian Institute of Digital Transformation (AIDT), which is in partnership with Global Learning Solutions Singapore.
In 2019, industry analyst firm International Data Corp. named UnionBank as the 2019 Digital Transformer of the Year at its annual Digital Transformation Awards. The award recognizes companies that have successfully digitalized one or multiple areas of their business through the application of digital and disruptive technologies.
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“This is a major step for us and it is also an affirmation that even during this crisis, there are companies who continue to invest in the future of the Philippines,” said Edwin Bautista, president and CEO, UnionBank. “The Philippine government, or one of the Secretaries, said that the Philippines can be a major hub for AI (artificial intelligence), maybe in Asia. We can certainly make this little corner in San Pedro, Laguna, the epicenter of AI, blockchain and all those wonderful technologies that this bank is harnessing in order to create the future of banking.”
“This facility will be a breeding ground for cultivating new talent, evolving new products, and developing new ways to be competitive in the new economy. It is a landmark for the Philippines’ relentless push towards comprehensive digitization,” said Finance Secretary Carlos Dominguez.