UnionBank recognized as the second “Most Recommended Retail Bank in the Asia Pacific”

UnionBank of the Philippines was recognized as the second “Most Recommended Retail Bank in the Asia Pacific” by BankQuality.com.

UnionBank was next only to KakaoBank, South Korea’s largest digital-only bank, according to the BankQuality Consumer Survey on Retail Banks, an online survey conducted last April 1-30, 2020 based on a BankQuality Score derived from a net promoter assessment of each bank. It covered a total of 11,000 respondents, with 1,000 each coming from China, Hong Kong, India, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam

Since the start of the quarantine period, UnionBank has been bolstering its online banking platforms for retail and corporate customers, “UnionBank Online” and “The Portal,” respectively, to enable them to safely conduct their banking transactions from home.

UnionBank was also among the first banks to waive its online fund transfer fees and deploy its “Bank On Wheels” to bring its bank branches to the doorstep of its customers.

“I would like to thank our very hardworking and selfless UnionBankers, frontliners, all who have been doing their utmost during this pandemic to deliver safe, consistent, and full-service digital banking to our customers, for this accolade,” said Edwin R. Bautista, President and CEO, UnionBank in a statement.

The bank’s fintech arm UBX has been facilitating the release of cash subsidies through the deployment of mobile automated teller machines (ATMs) to its rural bank partners and financial cooperatives where beneficiaries of the government’s Social Amelioration Program can withdraw their money quickly.

UBX has also begun linking its rural bank members to its new network, which includes Cebuana Lhuillier, LBC, Palawan Express, and PeraHub, enabling customers of these rural banks to send funds and payments to over 11,000 branches of the four remittance centers nationwide.

SOURCE: Business World, Aboitiz Eyes