We are investing in this new platform to gain exponential benefits in reducing costs, increasing efficiency and ultimately, delivering a world class digital customer experience.“ The move from an on-premise to the cloud based Finacle Digital Banking Solution Suite is the next strategic step in that direction, that will set us up for success long into the future. Unlike banks with decades-old legacy systems, UnionBank has invested early in flexible, open systems. Aguda, Senior Executive Vice President, Chief technology, Operations and Transformation Officer, UnionBank of the Philippines, said, “ Even as our customers shift and readjust how they bank in these challenging times, it is our continuous endeavor to provide them with a world class customer experience. Overall, the solution suite will help enhance digitization and automation across the enterprise, leading to significantly improved customer experience, greater STP (straight through processing), and lower operational costs.Finacle’s extensive open API (application programming interface) repository on cloud will enable the bank with the agility required to integrate and co-innovate with ecosystem partners easily and seamlessly.This will empower the bank to focus on its core business and driving growth. The end-to-end managed services of the SaaS offering facilitates business applications, infrastructure, preventive maintenance, and support, to enable mission-critical service delivery.It will help the Bank to significantly lower total cost of operations, while speeding up innovation and time-to-market for new initiatives.
FINACLE CORE BANKING API UPGRADE
With this upgrade and cloud-based deployment model, UnionBank will be able to benefit from a secure, scalable, and flexible IT infrastructure.Being part of a common technology stack, this will enable UnionBank to standardize business processes, simplify enterprise architecture and offer tailored services. The Finacle Digital Banking Solution Suite covers customer onboarding, deposits, loans, payments, and trade finance business areas.