As a testament to being at the forefront of technology-based banking in the country, the first fully digital bank branch in the Philippines was introduced: The ARK by UnionBank.
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 Bank President and incoming CEO Edwin R. Bautista.
Bautista explained that The Ark provides an interactional experience rather than a transactional space. It could also be used as a 3rd space for different communities to get together.
“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.
Bank Chairman 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.
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.
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