CITY Savings Bank, the thrift arm of Aboitiz-led UnionBank, was recently named “Most Innovative Savings Bank” in the Philippines at the International Finance Awards 2022.
The bank said this recognition solidified its position as the country’s leading digital mass market bank.
The UK-based International Finance is a highly regarded global business and finance magazine. It recognized CitySavings for its straightforward banking and easy and user-friendly services. “City Savings Bank provides simple solutions to one’s banking needs thanks to its digital innovations,” International Finance noted. “The Bank also has a chatbot called Talk to Maria, which played a crucial role in helping their customers during the Covid-19 pandemic.”
Aligned with its purpose of elevating communities through financial inclusion, CitySavings has expanded its loan portfolio. While maintaining its lead as the preferred teachers’ bank, it also offers pension, motorcycle, company employee, and government salary loans.
The thrift bank is at the forefront of providing innovative solutions for its customers. Among these are its Visa debit card, which enables customers to transact online conveniently, and its Talk to Maria chatbot, which provides customer service 24/7.
With the appointment of UnionBank’s chief technology and operations officer and chief transformation officer, Henry Aguda, as its new chairman of the board, CitySavings is poised to expand its digital transformation initiatives driven by data science and artificial intelligence (AI). It is piloting AI-driven solutions designed to improve customer relevance for loan availment and enhance its credit scoring model for loan processing.
“We remain steadfast in our commitment to serving our customers and communities to make banking simple for them,” bank president and chief executive officer Lorenzo Ocampo said in a statement.
The International Finance Awards recognizes the most outstanding and innovative companies, predominantly from the Middle East, Asia, Europe, and Africa. C-level executives and senior management representatives in finance, banking, asset management, brokerage, insurance, energy, oil and gas, logistics, and utilities participate in the awards. (CSL with PR)