City Savings Bank, Inc. (CitySavings), the thrift arm of Aboitiz-led Union Bank of the Philippines (UnionBank), was recently named Most Innovative Savings Bank – Philippines at the International Finance Awards 2022. This recognition solidifies CitySavings’ position as the country’s leading digital mass market bank.
International Finance is a highly regarded global business and finance magazine that recognized CitySavings for its straightforward banking and easy and user-friendly services. C-level executives and senior management representatives in finance, banking, asset management, brokerage, insurance, energy, oil and gas, logistics, and utilities participate in the decision-making process.
“CitySavings 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.”
“We remain steadfast in our commitment to serving our customers and communities to make banking simple for them,” remarked CitySavings President and Chief Executive Officer Lorenzo T. Ocampo. “On behalf of all CitySavings Bankers, I humbly accept this international recognition. Thank you, International Finance, for your trust. This award is a testament to our dedication to customers and our advocacy to elevate the lives of our clients through relevant digital solutions.”
CitySavings 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.
The Aboitiz Group’s Great Transformation growth strategy to become the Philippines’ first techglomerate is propelled by technology and a renewed entrepreneurial mindset. By leveraging both, CitySavings is able to better serve its customers. While already regarded as the Most Innovative Savings Bank in the Philippines by International Finance, this is only the beginning of CitySavings’ transformation.
With the appointment of UnionBank Chief Technology and Operations Officer and Chief Transformation Officer Henry R. Aguda as CitySavings’ Chairman of the Board, CitySavings is poised to expand its digital transformation initiatives driven by data science and artificial intelligence (AI). The bank is piloting AI-driven solutions designed to improve customer relevance for loan availment and enhance its credit scoring model for loan processing.
Furthermore, 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. This has allowed CitySavings to serve more customers with innovative services for their ease and convenience.
