Union Bank of the Philippines (UnionBank) has become the first Philippine bank to launch a smart branch that leverages world-class 5G technology for seamless connectivity with IOT (Internet of Things)-enabled services.
Partnering with Globe Business, the enterprise arm of Globe Telecom, UnionBank deployed 5G-grade connectivity at its Dasmarinas, Cavite branch–the first of its ARK 2.0 branches–for faster speeds, higher bandwidth, and a more stable internet connection. Twenty times faster than other networks available, 5G technology will allow branch employees to connect 32 devices at the same time without sacrificing performance.
Researchers say that 5G banking will take customer experience to the next level via augmented reality and virtual reality on their smartphones.
According to leading digital financial publication The Financial Brand, by combining 5G and artificial intelligence (AI), banks can better harness the always on, real-time data coming from devices, which will allow better prediction and anticipation of a customer’s preferences and behaviors.
“Excellent customer experience will always be an important driver to a company’s growth and relevance. This is the very reason why we at UnionBank constantly innovate and improve our services to ensure that we offer nothing but the best to our clients,” said UnionBank executive vice president and chief information officer Dennis Omila.
“Partnering with Globe for its revolutionary 5G network and connectivity is one way we can provide a more seamless and efficient operations,” Omila said.
“5G is an important building block in helping Philippine companies remain competitive in the digital age. This is the reason we are accelerating our efforts to deploy 5G, so we can provide more Filipino companies like UnionBank the chance to go beyond what the current technology allows them to do,” said Globe Business senior vice president Peter Maquera.
Earlier at the launch of UnionBank’s 15 new ARKs–or fully digital branches–led by the pioneering ARK for Business, UnionBank president and CEO Edwin Bautista shared the plan to take their network infrastructure to the next level with software-defined and artificial intelligence capabilities.
The bank has a “Tech Up, Pilipinas” advocacy that seeks to utilize technology to make financial services available to all Filipinos.
Meanwhile, its valued partner Globe Business continues to redefine how businesses work—which goes beyond functions, numbers, and performance. It is committed to enable its clients and partners to catapult their enterprises to success by providing the right technology, infrastructure, and know-how to create a positive impact and transform people’s lives.