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    Home»Business»UnionBank Talks Digitizing Corporate Clients in the New Normal at 5th E-TalkTales
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    UnionBank Talks Digitizing Corporate Clients in the New Normal at 5th E-TalkTales

    Mommy IrisBy Mommy IrisOctober 26, 20202 Comments3 Mins Read
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    Last October 20, Union Bank of the Philippines (UnionBank) held the fifth installment of its E-TalkTales series wherein Head of Transaction Banking Mon Duarte discussed the Bank’s various transaction banking solutions, particularly The Portal, its all-digital banking platform for corporate clients.

    Duarte began the discussion by differentiating UnionBank’s Transaction Banking solutions, which he defined as simply offering customized solutions to help digitize our corporate clients. Traditional transaction banking helps manage flow of funds by facilitating collections and payments, over-the-counter check deposits, to the provision of armored car services for high cash transaction situations, among others.

    The main focus of Duarte’s discussion was UnionBank’s The Portal, its digital banking platform specially designed for corporate clients. Offering a host of solutions that include bills payments, payroll, fund transfers, check writing services, merchant payment gateway systems, and credit facilities, The Portal provides corporations with all their essential banking needs in a single platform.

    Knowing that each corporate entity has needs and priorities that are uniquely theirs, UnionBank designed The Portal in a way that allows it to provide utmost flexibility to clients, making it the preferred platform for those who don’t want the one-size-fits-all approach of most competitors when it comes to the corporate banking solutions they offer.

    Part of the flexibility offered by The Portal comes by way of various customization options available to clients. Depending on the current needs of their organization, clients can choose only the solutions that they want to avail of at the moment, and then adjust later on. To make it easier, the Bank created a number of packaged solutions based on what it thinks would make sense for clients, which they can avail of anytime via The Portal website.

    Another key feature of The Portal in terms of flexibility is the possible configurations for transaction approvals. With this feature, corporates will be able to establish a specific maker-checker process for each transaction made by their team members. This will give them free control over who can make which transaction, as well as the maximum amount for each transaction depending on who makes it, among others.

    With The Portal, UnionBank aims to make transaction banking as seamless for users as possible, and the Bank wants to make this very clear right from the moment a client starts using the platform—the onboarding process.

    Onboarding is typically one of the most stressful phases of using a new platform for many corporates, since it involves learning a new set of interfaces and processes. This phase can take a few days or weeks or even a few months to finish. With The Portal, however, UnionBank also digitized the onboarding processes so that clients can get into the platform in less than a day, usually within a few minutes, with no further training needed.

    These are only a few innovative features of The Portal. As the Bank continues its digital transformation journey, more services will become available in the coming months.

    The Portal is not based on any third-party digital framework. Instead, it was built from the ground up. In creating The Portal, UnionBank was guided by the principle of having a simple integrated platform in order to ensure the best user experience for customers. For the Bank, providing superior transaction banking experiences to users is a top priority, and The Portal is the perfect representation of what it believes transaction banking should be.

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    I'm a lifestyle and mommy blogger from the Philippines.Pinay Ads was created to share bits and pieces of my life and my family. I have a wide array of interests that include entertainment, movies, music, gadgets, traveling, food, baking, and more. So, I hope you’ll stick around and enjoy reading!

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    2 Comments

    1. Manilyn inciso dacut on October 27, 2020 9:28 pm

      This is very convenient ❤

      Reply
    2. Michelle Anne Tumulak on October 27, 2020 10:41 pm

      Wow! galing naman ng UnionBank very convenient na 😍

      Reply
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