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UnionBank Shines Anew at The Global Retail Banking Innovation Awards 2023 in Singapore

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Union Bank of the Philippines (UnionBank) continues to reap the rewards of its digital advocacy as it collected notable recognitions at The Digital Banker’s  Global Retail Banking Innovation Awards recently held at the Raffles Hotel in Singapore.

UnionBank was the first Philippine bank to launch an app for SME’s and “UPAY for MSMEs” won as the “Best Smart Payments Solution by an SME Bank” for the Bank’s sustained growth in active merchants on the platform with its 108% increase in 2022. “UnionBank’s TECH UP Pilipinas nation-building advocacy initiative to advance financial accessibility in the country though digital innovations is a commendable” said The Digital Banker in its citation. UnionBank’s digital transformation began long before the onset of the global pandemic and continues as its defining roadmap on its Great Retail Bank journey. It has harnessed the power of digital technology to expedite financial inclusion and cascade the benefits of economic growth for the country.

“This award is a testament to UnionBank’s commitment to Tech-up the nation,” said Institutional Segment Marketing Head, Dino Velasco IV

In the “People Awards” category, The Digital Banker bestowed the “Best Relationship Manager of the Year” to a UnionBank Senior Relationship Manager & Vice President, for Financial Services and Insurance Brokerage. For “successfully generating a total revenue of PHP 21.5 million (USD 430,000) for the bank” and “consistently building his HNW base, growing it by 11% through strategically engaging with clients, and ensuring their portfolios are informed by current market insights and views”, Justin Richmond T Dy was conferred the award.

“This recognition serves as a reminder of the responsibility that we have to uphold the highest standards of excellence and integrity in the world of wealth management.” said Justin Dy.

Justin Richmond T. Dy, UnionBank Senior Relationship Manager & Vice President, for Financial Services and Insurance Brokerage.

Capping off UnionBank’s award haul for the night was the “Retail Banker of the Year – Philippines” that was won by Director, Head of Wealth Management and Brokerage, Therese Chan.  The Digital Banker recognized Ms. Chan for successfully leading the franchise through a period of change, her ability to manage employee concerns, while focusing on the overall client experience, that were critical in driving client engagements, allowed the Bank to retain its base, while securing record growth of 65% of new-to-bank HNW clients in Q4 2022, Therese’s, pro-active step of shifting sales scorecards to shift to client consent led initiatives over a three month period was essential in sustaining business momentum.”

Therese Chan, Director, Head of Wealth Management and Brokerage

“I want to extend the award win to the Consumer Wealth team of UnionBank, for taking care of both Citi PH HNW clients and now the larger HNW team.” said Therese Chan upon accepting the award.

The Global Retail Banking Innovation Awards (GRB Awards) are the pinnacle of excellence and exist to recognize the world’s leading banks that are pioneering product and service innovation. These institutional and people awards highlight UnionBank’s critical role in shaping the banking industry’s future. The consistent recognitions from prestigious local and regional award giving bodies exemplifies its unwavering commitment to innovation and excellence in providing world-class banking solutions to its valued customers. On its journey to become a Great Retail Bank, UnionBank is determined to be an enabler of the Philippines’ bid to be a G20 country by 2050.

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