10/21/2020 10:17:59 PM
The past month saw the UnionBank of the Philippines staged the fifth installment of its E-TalkTales Series. With Mon Duarte, UBP's Head of Transaction of Banking at the helm, this session tackled 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 the 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 which offer a plethora of essential banking solutions in a single platform. This includes bills payments, payroll, fund transfers, check writing services, merchant payment gateway systems, and credit facilities.
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 any time 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.
Through this innovative platform, UnionBank is stepping up on its objective to make transaction banking as seamless for users as possible. The Bank also wants to make this very clear right from the moment a client starts using the platform—the onboarding process, known as one of the most stressful phases of using a new platform for many corporate entities since it involves learning a new set of interfaces and processes.
It can take a few days or weeks or even a few months to finish this phase. 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.
What's unique about The Portal by UnionBank is that it is not based on any third-party digital framework. Instead, it was built from the ground up. Upon its creation, UBP 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.
Author: slickmaster | © 2020 The SlickMaster's Files
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