The Philippines’ UnionBank taps Informatica for MDM solution
UnionBank of the Philippines is continuing its digital transformation drive and transition to the cloud with the adoption of Informatica’s Master Data Management (MDM) solution.
UnionBank adopts MDM solution from Informatica
Backed by its AI-powered Intelligent Data Management Cloud (IDMC) platform, Informatica claims its MDM offering can provide banks with an “enterprise-wide, 360-degree view of customers” through the aggregation of an array of data.
UnionBank, the ninth largest bank in the Philippines by way of assets, is now set to embrace the insights provided by the solution to cultivate a more personalised offering for its customers.
Informatica adds the bank will be able to utilise near real-time information to “be better able to counter money laundering and fraud to protect customers while meeting regulatory obligations”.
Wilfredo Montino Jr., chief data officer at UnionBank, says the bank is aiming to “make trusted customer data more accessible to our users” through the partnership, leveraging the cloud’s scalability to “match the growth of the bank”.
The partnership represents the latest progress in UnionBank’s steady transition to digital. It first announced its foray into cloud-based banking through its 2021 partnership with Amazon Web Services (AWS), through which it migrated its entire IT infrastructure to the service.
In the two years since, it has formed notable partnerships with Metaco for digital asset management, NCR Corporation for ATM-as-a-Service, and Avaloq for wealth management services, made all the more necessary following its acquisition of Citi’s Filipino consumer business in August 2022.
