COUNTRY FOCUS : PHILIPPINES
In this edition of Country Focus , we look at the Philippines and how Unionbank is implementing digital banking solutions and partnering with different companies , making it easier for Filipinos to navigate the financial sector .
Unionbank of the Philippines digital banking solution suit
Skyview at Manila , Philippines
Infosys Finacle , part of EdgeVerve Systems , a wholly owned subsidiary of Infosys , and UnionBank of the Philippines ( UBP ) have announced that the bank will migrate from an on-premise deployment to the state-of-the-art Finacle Digital Banking Solution Suite on cloud .
Over 8 million customer accounts will be considered for migration to the new Software-as-a-Service ( SaaS ) platform . The transition will enable UnionBank to scale both its retail and corporate banking operations , rapidly develop and deploy new capabilities and deliver frictionless , personalized and secure digital banking services to its customers , in a cost-efficient manner .
The Finacle Digital Banking Solution Suite covers customer onboarding , deposits , loans , payments and trade finance business areas . Being part of a common technology stack , this will enable UnionBank to standardize business processes , simplify enterprise architecture and offer tailored services . With this upgrade and cloud-based deployment model , UnionBank will be able to benefit from a secure , scalable and flexible IT infrastructure . It will help the bank to significantly lower total cost of operations , while speeding up innovation and time-to-market for new initiatives .
The end-to-end managed services of the SaaS offering facilitates business applications , infrastructure , preventive maintenance and support to enable mission-critical service delivery . This will empower the bank to focus on its core business and driving growth .
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