Informatica, a leader in enterprise cloud data management traded on NYSE under the symbol INFA, has announced a significant development with UnionBank of the Philippines. The leading universal bank in the Philippines is transitioning from an on-premises solution to the cloud as part of its cloud-first digital transformation strategy. UnionBank has chosen to adopt Informatica’s intelligent Master Data Management (MDM) SaaS to facilitate this transition.
UnionBank, known for embracing technological innovations, particularly in cloud and AI, is undergoing this transformation following its acquisition of the Citibank retail banking business in the country. This move will impact more than 12 million customers, including over a million from Citi. To ensure seamless operations, UnionBank recognizes the importance of reliable, near real-time information for Know Your Customer (KYC) initiatives, customer onboarding, multi-channel customer engagement, advanced analytics, and regulatory reporting.
Informatica’s Intelligent MDM and 360 Applications, powered by the AI-driven Intelligent Data Management Cloud™ (IDMC) platform, play a crucial role in UnionBank’s strategy. This technology allows UnionBank to create a comprehensive 360-degree view of customers, identifying unique customers and their various relationships across the bank. This approach enables UnionBank to surpass customer expectations, delivering personalized services based on a single, real-time source of trustworthy data. Moreover, the bank gains enhanced capabilities to counteract money laundering and fraud, ensuring customer protection while meeting regulatory obligations.
Wilfredo Montino Jr., Chief Data Officer at UnionBank of the Philippines, emphasized the bank’s commitment to technological innovation and delivering superior financial services. By collaborating with Informatica, UnionBank aims to make trusted customer data easily accessible, mastered on a single AI-driven platform, and scalable in the cloud to match the bank’s growth.
Steven Seah, Managing Director for Informatica ASEAN, India, and Korea, highlighted the synergy between Informatica and UnionBank. As a pioneer in technological innovation, UnionBank’s adoption of Informatica’s industry-leading MDM services on the IDMC platform positions it to accelerate its strategic vision. This involves providing consistent trusted data to enhance the overall customer experience and drive financial inclusion in the Philippines’ financial services sector.
