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UNIONBANK BECOMES THE FIRST BANK FROM THE PHILIPPINES TO JOIN BIAN

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UnionBank to collaborate with BIAN and its members to define the future of banking standards

 

Union Bank of the Philippines (UnionBank) is now a member of global banking standard organization, Banking Industry Architecture Network (BIAN). UnionBank joins other leading international banks and technology partners to become the first and only bank from the Philippines to join BIAN.

 

BIAN, which was established in 2008, is a non-profit organization that aims to provide the world with the best banking architecture and to be the banking technology standard by providing a common architectural framework across the industry. BIAN’s ecosystem is formed by banks and fintechs, technology providers, consultants and academics from all over the world.

 

The rapid development in consumer technology has driven customers to expect instant services and the delivery of frictionless solutions and platforms. To date, the financial services industry has found it hard to keep up with these demands. UnionBank has always been among the first to embrace digital technologies which address these needs, while empowering customers through innovative products and services.

 

UnionBank is looking forward to taking advantage of BIAN’s wide array of special projects such as but not limited to Open APIs and Coreless Banking. BIAN also promotes interoperability and simplified banking architecture that is aligned with the bank’s service-oriented architecture principles. UnionBank’s enterprise architecture formed part of its digital transformation strategy, which has helped to ensure that its technological solutions are aligned to its business capabilities and functions.

 

“At UnionBank, as we continue to redefine and re-imagine the playing field, with customer experience as our beacon, it is important that we conform to global standards and best practices that allows simple and faster integration with other partner institutions. This is why a BIAN-based Enterprise Architecture is highly essential as we journey more and more towards Open and Embedded Banking interconnecting partners and FinTechs, not just in the Philippines, but also throughout the region. We are very pleased to be the first Philippine bank to be a member of BIAN and we look forward to be an active participant that will drive the standardization across the industry,” said Dennis Omila, Executive Vice President and Chief Information Officer of UnionBank.

 

Through joining BIAN, UnionBank can help to define banking technology standards, creating industry-wide best practices and play an active role in shaping the future of banking. The bank sees this as an opportunity to introduce change, possibly open doors for new business models while reinforcing superior customer experience. UnionBank’s technical experts can join a variety of different working groups to focus on the likes of Semantic APIs, Product Certifications, Cards, Lending and Fraud Management where they can collaborate with other industry experts, analysts and peers.

 

In addition to this, UnionBank will be able to increase its knowledge through its exposure and access to different artifacts and architecture documents. BIAN also provides interactive online trainings to members for free. These benefits will help the bank with its promise to power the future of banking by co-creating innovations for its customers and its commitment to be the Philippines’ leading digital bank. UnionBank believes that this will bring the bank one step further in implementing efficient and innovative products to serve the growing needs of the Filipino.

 

“We’re proud to welcome UnionBank to our growing organisation”, said Hans Tesselaar, Executive Director of BIAN. “UnionBank is well known for putting the customer first and being at the forefront of banking innovation across its country. As the needs of the customer continue to change, we’re excited to work with UnionBank and its technical experts. Together, through greater collaboration and the sharing of experience we can come to provide greater innovations across the globe.”

 

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ENTRUST INTRODUCES ADAPTIVE ISSUANCE™ PRODUCTION ANALYTICS SOLUTION TO OPTIMIZE CARD ISSUANCE OPERATIONS

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The new solution provides intelligent, data-driven insights to card issuers with Central Issuance systems for improved and timely management decisions

 

Entrust, a global leader in trusted identity, payments and data protection, today introduced the Production Analytics Solution, designed to provide real-time data and actionable insights to optimize card issuance operations. The solution is part of the Entrust Adaptive Issuance software platform trusted by banks, governments and other organizations worldwide.

With the complexity of card issuance environments and lack of real-time visibility into production system operations, card issuers have difficulty effectively overcoming efficiency challenges across the production ecosystem. Entrust has leveraged more than 50 years of expertise in the card issuance market to develop a platform that will provide the intelligent data and expert support needed to master operational planning for the alignment of people, equipment and processes, positioning card issuers as leaders within the industry.

“Card issuers are in search of solutions that help bring efficient continuous process improvements and optimization to the production floor,” said Dan Good, Vice President, Payment and Identity Issuance Solutions at Entrust. “The Entrust Production Analytics Solution was developed by the same engineers that built the systems it supports. And, we’ve gone a step further to provide one-on-one consultation to our customers, allowing them access to our team of experts to help identify and remove bottlenecks, increase operational efficiency and reduce production costs.”

 

How it works

The Entrust Production Analytics Solution collects information directly from the Central Issuance systems on the production floor and converts it into a dynamic dashboard of data for in-depth analysis. It offers point-and-click drill down capabilities to refine the accumulated data over any time interval, and the data can be shown in a variety of ways to see the most appropriate insights for the operation.

Key features and benefits of the subscription includes:

  • Real-time, actionable data collection that supports SPC (Statistical Process Control) methodology to monitor production statistics and trends for immediate problem solving
  • Regular industry expert engagements that will provide in-depth analysis of data and actionable recommendations for card issuer efficiency improvements

Regular software updates and new features

 

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UK READY TO SPEED UP THE DIGITAL TRANSFORMATION REVOLUTION

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More than half of businesses set to accelerate projects due to pandemic

British business is set for a digital revolution according to a survey which indicates that 56 per cent of companies are speeding up plans because of the pandemic.

With so many employees working from home, and a battle to get back on track after a year of turbulence, businesses are realising their processes and systems are potentially outdated and in need of an overhaul.

The survey, commissioned by Crown Records Management, revealed:

  • 32 per cent are planning digital transformation in the next 12 months to cope with the new normal.
  • A further 24 per cent plan to act within five years.
  • 66 per cent say the pandemic has made the C-Suite in their business recognise the importance of digital transformation.
  • 30 per cent say allowing employees to work at home efficiently is now a key driver for digital transformation.
  • 27 per cent do not view their business as having already ‘gone digital’.
  • Only 26 per sent say they have already fully digitised all their back-office functions.

David Fathers, Regional General Manager at Crown Records Management, said: “There was already a big desire from UK businesses to develop a digital strategy even before the pandemic, driven by a demand for improved data security and a need to be more competitive in the market.

“But these survey results show that companies now want to increase the pace of change because of the events of the last year.

“Having so many employees working from home has shone a light on the inadequacies of systems currently in place in many companies, of all sizes. Employees have found that information has been difficult to track down and slow to access.

“There’s a myth that Western countries such as the UK are so far ahead in the digital field that most businesses have already undergone digital transformation.

“The survey showed that only a quarter of businesses have fully digitised all their back-office functions, which means there is a long way to go.”

The survey, undertaken by Censuswide, polled 401 decision makers at companies across the country with between 250 and 5000 employees.

David Fathers added: “We also asked whether people considered their business as having already ‘gone digital’ and surprisingly 27% said ‘no’.

“That figure was even higher in London at 30% and highest of all in companies of between 250-500 employees – at 46%.

“It is vital that businesses begin the digital journey soon. The benefits are compelling.

“Digital solutions can help a business become more efficient, save time and money, and make it simpler for employees to do their job – and that’s even before we begin to think about compliance and data security, which are huge business issues in the modern world.

“Perhaps it has taken the pandemic for some boardrooms to wake up to the importance of digital transformation, but if the intentions set out in this survey become reality, it can only be a good thing for UK business.”

 

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