UnionBank innovates operations on the cloud

SAP has announced that UnionBank of the Philippines, a publicly-listed universal bank, commenced S/4 HANA hosted out of HANA Enterprise Cloud (HEC) to fuel its digital transformation in the banking sector.

First founded in 1982, UnionBank is a universal bank in respect to market capitalization, profits and customer coverage, committed to its purpose of making the difference in customers lives by connecting and enabling communities through Smart Banking. Today, the bank distinguishes itself through superior technology, unique branch sales and service culture, and centralized backroom operations.

Justo A. Ortiz, chairman and CEO of UnionBank, shared that in its 35 years of existence, the company believes that the mission to “transform the bank for the digital economy” is the most revolutionary and gigantic step that the bank has taken towards in enabling its customers through digital transformation.

UnionBank, a leader in Philippine digital banking, was among the first of its peers to start the first bank website, pioneer online banking in the country, and launch the country’s first electronic savings account. These things all point to UnionBank’s goal of creating seamless operations in all parts of its transaction for its customers.

“We wanted to create a core banking system that will helpus to decentralize our functions for booking, establish a Shared Services framework to support our HR functions, and automate our operations focused on Enterprise GL, Planning and Budgeting, Procurement, and Analytics. This development is vital for us to meet the ever-changing needs not just of our customers but also our employees,” said Ortiz.

SAP considers the unique industryspecific needs of UnionBank in a tightly regulated industry and understands the role that technology plays in shifting the dynamics of success.

SAP believes that this solution is the cornerstone of future innovations as UnionBank begins to explore blockchain technology, In-Memory Computing, and Big Data. Through this, UnionBankcan see that the system is ready to support new technologies and solutions in the market.

Choosing SAP is in line with the bank’s core mission to transform the bank for the digital economy and be the first in the country put all their core operations to the cloud.