UNION Bank of the Philippines (UnionBank) launched 15 new branches that allows for digital banking transaction it calls the ARK.
Among these new ARKs is a new digital banking experience with its own flagship branch.
Union Bank said it also launched its ARK for Business at Madrigal Building along Ayala Avenue, in Makati City. A statement said this is the first UnionBank ARK “designed to make business transactions seamless and efficient.” It said this is linked to UnionBank’s business banking platform it calls “The Portal.”
The bank said its “ARK for Business enables all business clients to conveniently pre-stage their transactions in the comfort of their offices or residences.”
“The Portal has a web site and a mobile app version that gives business clients basic banking functions, such as account viewing, fund transfers through multiple channels and payment to government and utility billers,” UnionBank said. “Customers can also access a financial-supply-chain system powered by blockchain inside the platform.”
UnionBank said that its “ARK for Business has high-volume, self-service machines to accommodate large transactions from business clients—who comprise 90 percent of Ayala Madrigal’s total transactions.”
The bank said staff are present in the ARK branch “to facilitate digital conversion of business customers and help provide relevant business solutions.” Its “ARK for Business” also offers a co-working space for business clients who need a temporary office.”
UnionBank said it is set to have close to 50 ARKs by end of the year. For 2020, the bank has announced that it already has the blueprint in building its ARK 2.0, a smart branch with IOT-enabled devices that would leverage on 5G technology.
“UnionBank will be partnering with technology experts in building this digital infrastructure to support the development of smart communities,” UnionBank President and CEO Edwin Bautista was quoted in the statement as saying.
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