Philippines' best digital bank 2017: Union Bank
Most banks take their digital divisions seriously these days, touting their prowess and all-purpose online service. But it’s rare to find a lender that saw the potential in the digital world early – and got it right. Most countries boast at least one standout lender in this category; when it comes to the Philippines, that lender is Union Bank.
Its digital dalliance began way back in 1999, at the dawn of the age of online shopping. Union Bank launched its EON Cyber Account, the country’s first online payment card, and they have remained, in the words of one Manila-based banking analyst, “pioneers in the field ever since”.
Over the years, EON has been transformed, becoming a standalone digital bank in 2015, and constantly upgrading its security features to protect itself and its customers from hackers.
The innovations haven’t stopped there. In March 2017, EON’s stable of services was expanded, allowing users to set their daily withdrawal limits online or via the EON app. EON Zero was established, a service that allows customers to apply for a multipurpose loan with a simple click of the mouse – no form-filling and no waiting time – while EON Duo is a digital credit card expressly designed to give its customers peace of mind when ordering goods or services online or via an app. Overall, an impressive suite of digital services from a far-sighted bank.