UnionBank Taps Informatica to Transition Customer Data to Cloudby Fintech News Philippines January 18, 2024
UnionBank of the Philippines has recently selected Informatica’s intelligent Master Data Management (MDM) SaaS for transitioning its operations to the cloud, aligning with the bank’s digital transformation strategy. This change signifies a shift from UnionBank’s previous on-premises solution to a more cloud-oriented approach.
The decision comes in the wake of UnionBank’s acquisition of Citibank’s retail banking business in the Philippines, expanding its customer base to over twelve million, including more than a million from Citibank. The bank says the expansion necessitates enhanced systems to manage customer information efficiently, addressing needs such as improved customer onboarding, multi-channel engagement, and regulatory compliance.
By implementing Informatica’s Intelligent MDM and 360 Applications, which operate on the AI-driven Intelligent Data Management Cloud platform, UnionBank aims to develop a comprehensive view of its customers. This system is designed to identify unique customers and their interactions across the bank’s network, intending to provide personalised services and improve customer relations.
Additionally, this technology is expected to bolster the bank’s capabilities in preventing financial crimes like money laundering and fraud, contributing to customer safety and regulatory adherence.
“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,”
said UnionBank’s Chief Data Officer, Wilfredo Montino Jr.
“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,”
added Steven Seah, the Managing Director for Informatica ASEAN, India and Korea.
Featured image credit: edited from freepik