Union Bank of the Philippines (UnionBank) has selected enterprise cloud data management firm Informatica’s intelligent Master Data Management (MDM) software as a service (SaaS) to boost customer experience in the cloud.
The MDM SaaS will help the bank in its transition from an on-premises solution to the cloud as part of the bank’s cloud-first digital transformation strategy.
Informatica’s MDM and 360 Applications driven by the company’s AI-powered Intelligent Data Management Cloud (IDMC) platform will support UnionBank in developing an enterprise-wide 360-degree view of customers.
It will distinguish unique customers and their multiple relationships across the bank.
According to Informatica, the engagement will enable UnionBank to deliver highly tailored services based on a single real-time source of trusted data.
It will also improve the bank’s capability to tackle money laundering as well as fraud to safeguard customers while addressing regulatory obligations.
UnionBank chief data officer Wilfredo Montino Jr said: “UnionBank remains committed to serve the Filipino community by driving technological innovation and adopting best-in-class, industry-leading solutions to deliver a superior financial services experience.
“By working with Informatica, we make trusted customer data more accessible to our users, mastered on a single AI-driven platform, and leveraging the cloud for scalability to match the growth of the bank.”
Informatica ASEAN, India and Korea managing director Steven Seah said: “Informatica is a transformational leader in AI-powered cloud data management, and UnionBank is a pioneer embracing technological innovation to empower its customers.
“We look forward to manifesting this synergy to help the Philippines’ financial services leaders like UnionBank to drive financial inclusion and improve customer experience with trusted data at its centre.
“The adoption of Informatica’s industry-leading MDM services, available natively on the IDMC platform, will enable UnionBank to accelerate its strategic vision by providing consistent trusted data to deliver exceptional customer experience to its customers.”
In November 2023, Union Bank introduced digital solutions to help businesses elevate their transaction banking.
