Amazing Jing for Life: UnionBank officially launches its fully digital bank: The Ark

UnionBank officially launches its fully digital bank: The Ark

"The Ark" by UnionBank

In this day and age, modernization and digital application are considered to be one of the essential factors to level up with the ever-growing technology.

Just recently, I was invited to experience first hand, the now talk-of-the-town, UnionBank's "The Ark," branch in Ayala Ave., cor. Paseo de Roxas in Makati City. I was in complete awe the moment I stepped in at the newest banking tech hub. One would really like to think that this could just be a hang-out place or plainly a cafe where we can all stay, mingle, do our online stuff, socialize and chat.

But, actually, it is the newest and most modern fully digital bank that UnionBank has launched for everyone to do not just bank transactions but this is also an interactive place where everything is touch screen and paperless! Tellers assist the UnionBankers, carefully explaining each and every detail while you are being seated comfortably on their very neat and cozy couch.

And speaking of comfortability, you can even go to their cafeteria located at the far left side of "The Ark." During my stay there, I was able to have a their great-tasting hot chocolate, while waiting for the launch to start and some of my colleagues had Carmen's Best ice cream.

Having my hot chocolate at "The Ark"

I don't know with you, but if you were to ask me, I would rather save my money or invest on this one of the most trusted and stable banks in the country. The high-tech banking corporation that ensure us of a better and bright future while at the same time making us feel at home.

Here's a virtual tour of the The Ark please click here

Background and more facts about "The Ark" here

If you were wondering if they would launch or come up again with a branch like that of "The Ark," the answer is YES, and it's gonna be real soon. So, watch out what branch it would be and when. :))

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Consistent with its role as the technology-leader among banks in the country, UnionBank launched The ARK, the first fully digital bank branch in the Philippines.

Using digital technology to augment an actual banking experience, The ARK by UnionBank delivers on its promise of a new digital platform experience in banking.

“The ARK was established by UnionBank to address the common pain points in banking. Falling in line, getting a number before being attended to, spending a lot of time in the bank which could have been used in, otherwise, more productive endeavors. It is also meant to satisfy the diverse and changing needs of our customers,” explained UnionBank President and Chief Operations Officer (COO) Edwin R. Bautista.

Bautista explained that The Ark provides an interactional experience rather than a transactional space. It could also be used as a 3^rd space for different communities to get together.

The ARK, as a concept branch/ “lab,”also serves as a platform for the clients to co-create an ideal banking experience by closely looking into what the clients’ needs and wants when it comes to banking.

Digital natives would find The ARK as the perfect bank branch that fits their lifestyle.
For non-digital natives, however, The ARK serves as their bridge that comfortably leads them from traditional to digital banking.

“The ARK provides a service unlike any other. There are no lines, no numbers, hardly any forms to fill up, just highly-trained bank ambassadors ready and happy to give personalized service to each and every client. Every client here receives the proverbial VIP service,” Bautista adds.

At The ARK, a client is treated like a guest, welcomed by the bank ambassador who hands him a tablet to select his transaction. The bank ambassador may usher the guest to the coffee area where he could enjoy his espresso while waiting for the bank ambassador to facilitate his transaction. The guest will also be able to maximize his time while at The ARK and do some work as the branch is equipped with high-speed internet. Customized and comfortable seats are provided for The ARK guests.

UnionBank Chairman and Chief Executive Officer Justo A. Ortiz said that it should not come as a surprise for UnionBank to come up with The ARK, which is seen as the bank of the future.

Mr.Justo A. Ortiz UnionBank Chairman and CEO

Here's Mr. Ortiz's speech please click here

“UnionBank trailblazed digital banking in the Philippines and we continue with our efforts to use technology and enhancing digital banking capabilities in order to provide the best customer experience for our clients,” Ortiz said.

UnionBank has recently been awarded as the Best Digital Bank at the Asiamoney Banking Awards 2017, held at The Ritz-Carlton in Beijing, China, last September 26, validating its position as the best digital bank in the country.

Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi Fonacier graced the launch of The ARK and hailed UnionBank for its future-ready innovations which are at par with international banking standards.

Fonacier said that BSP believes in financial technology as both an opportunity and a challenge to the banking sector.

BSP records show that 25% of current bank clients use mobile banking technologies in their transactions and this number is predicted to grow exponentially over the years.

“Our banks need to be equipped with sound digital strategies for them to cope up with these digital innovations to better serve their clients. BSP will also be aggressively pursuing reforms to support our banks through an enabling regulatory environment,” Fonacier adds.