Union Bank of the Philippines (UnionBank) is going full speed in its digital transformation with its Integrated Operations Center (IOC), which is designed to supervise overall operations of the bank, and translate this into maximized revenues and better customer experience.
The IOC, the first-of-its-kind in the country, is a collaborative facility that houses the Security Operations Center and Business Intelligence Center of the bank. Using the latest technologies such as artificial intelligence and deep learning, the IOC operates 24/7 and addresses issues on security, business operations as well as customer activation and engagement.
UnionBank likens the competition in the banking industry to a Formula 1 race whereby the F1 drivers need to have a system that allows close monitoring of the many critical components of the race car. Similarly, communication among UnionBank’s business drivers is key in order to provide significant and immediate information to the business units and in turn, get their feedback as well. This allows the team to be proactive and predictive to a certain extent.
The IOC will supply the bank the business telemetry needed to win the race because it gives a holistic view of the operations.
“Also, with a well-coordinated and well-trained team, the business drivers will spend less time in the pit stop,” UnionBank Executive Vice President and Chief Information Officer Dennis Omila said.
For her part, UnionBank Head of IT Risk Management and Resiliency Charmaine Valmonte said the IOC stands as the “fabric” of UnionBank’s digital transformation initiative.
“It’s part of the fabric of our transformation. We need to keep an eye on everything - the system and processes as well as how our clients feel,” Valmonte told reporters during a media tour last Wednesday.
Launched last year, the IOC also develops security measures to counter cybersecurity threats.
“But it’s not just about security but about the holistic approach. That mission to have the driver moving and firing up that vehicle so that he can go further and win the race,” Valmonte said.
UnionBank saw a 57 percent-drop in its severity incidents to three in 2017 from seven a year ago. Apart from this, the bank also saw in 2017 increased uptime for branches and offsite ATMs to 99.23% and 96.38%, respectively, from 2016.