MANILA, Philippines – Union Bank of the Philippines (UnionBank) is a very go-getter type of bank when it comes to adapting technology for its processes, and in light of the coronavirus, it's taking mobile banking in a slightly different direction by literally bringing the bank to its customers.
UnionBank announced it was rolling out "the country’s first-ever 5G mobile banking kiosk" to serve customers in various areas in Metro Manila during the enhanced community quarantine brought about by the coronavirus pandemic.
Revealed earlier in March, UnionBank's "Bank on Wheels" is a 5G-powered, airconditioned banking kiosk in a mobile van. Bank customers can take advantage of some of the bank's services – namely making balance inquiries, withdrawals, bills payments, fund transfers, as well as opening accounts – without needing to leave their communities to find a branch that's open.
The accessibility will help people who may not have been able to download or prep their banking applications ahead of the coronavirus lockdown.
The bank uses 5G technology, allowing customers to have reliable connectivity during their banking procedures, while also having high bandwidth to support transactions.
UnionBank's Bank on Wheels is set to visit the following areas over the next few days:
The mobile bank will also visit its Commonwealth and Nova Gulod brances for the release of the GSIS pension by the end of the week.
UnionBank's Chief Technology and Operations Officer and Chief Transformation Officer Henry Aguda said this effort was made to let people access their bank without necessarily forcing people to risk traveling away from their communities.
Said Aguda, “Banking services are among the most essential services for many people. However, access to these services has been very limited because of the health crisis that we are currently facing."
"By deploying a mobile banking kiosk that is powered by 5G technology, not only are we able to make banking more accessible to customers, we are also able to do so in a way that is faster and more efficient,” Aguda added. – Rappler.com