UnionBank selects Informatica's solution

Friday 19 January 2024 12:13 CET | News

Enterprise cloud data management company Informatica has announced that UnionBank of the Philippines adopted its Master Data Management (MDM) SaaS solution. 

The integration of Informatica’s solution comes as part of the bank’s cloud-first digital transformation strategy as it transitions from an on-premises solution to the cloud. UnionBank supports technological innovation and includes in its operation cloud and artificial intelligence (AI) to support its customers. Considering that the bank acquired Citibank's retail banking business in the Philippines, the vision aims to improve the banking experience of more than 12 million customers. Taking this into account, UnionBank needs to ensure that its systems of engagement can offer trustworthy, near real-time information to enhance Know Your Customer (KYC) initiatives, accelerate customer onboarding, and improve multi-channel customer engagement, analytics, and regulatory reporting.

Enterprise cloud data management company Informatica has announced that UnionBank of the Philippines adopted its Master Data Management (MDM) SaaS solution.


Informatica’s solutions capabilities

By leveraging Informatica’s Intelligent MDM and 360 Applications enabled by its AI-powered Intelligent Data Management Cloud (IDMC) platform, UnionBank can develop an enterprise-wide 360-degree view of customers. This allows UnionBank to differentiate unique customers and their multiple relationships across the bank. Additionally, the bank can improve customer experience and deliver tailored services based on a single real-time source of trusted data. The collaboration supports UnionBank in reducing money laundering (ML) and fraud, thus protecting customers while meeting regulatory requirements.

According to UnionBank’s officials, the bank is committed to serving individuals residing in the Philippines by increasing technological innovation and adopting solutions that can deliver enhanced financial services experiences. By joining forces with Informatica, UnionBank intends to make trusted customer data more accessible to its users, integrate into a single AI-powered platform, and leverage the cloud for scalability to support the growth of the bank. Representatives from Informatica stated that the company intends to assist the Philippines’ financial services providers to increase financial inclusion and enhance customer experience through trusted data. By providing its MDM services, available natively on the IDMC platform, the company focuses on allowing UnionBank to accelerate its development strategy by offering consistent trusted data to deliver improved customer experiences to the bank’s users.

More details about Informatica

With its solutions, Informatica combines data with AI to enable businesses to reach their development objectives. The company created an additional category of software, the IDMC, to connect, manage, and unify data across virtually any multi-cloud or hybrid system, democratising data and allowing enterprises to modernise their strategies. Currently, Informatica has customers in more than 100 countries, with them relying on the company to accelerate data-led digital transformation.

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Keywords: partnership, artificial intelligence, data analytics, retail banking, cloud services, cloud banking
Categories: Banking & Fintech
Companies: Informatica, UnionBank
Countries: Philippines
This article is part of category

Banking & Fintech




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