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Innovation key to success of Philippines’ CitySavings in digital era

CitySavings has been at the forefront of providing innovative banking solutions for its customers

City Savings Bank, Inc. (CitySavings), UnionBank’s thrift arm, has been named “Most Innovative Savings Bank – Philippines” at the International Finance Awards 2022. The honour further solidifies the financial institution’s position as Philippines’ leading bank in the digital era.

International Finance recognized CitySavings for its straightforward banking and easy user-friendly services.

City Savings Bank provides simple solutions to one’s banking needs thanks to its digital innovations. The Bank also has a chatbot called Talk to Maria, which played a crucial role in helping their customers during the COVID-19 pandemic.

Aligned with its purpose of elevating communities in the Philippines through financial inclusion, CitySavings has expanded its loan portfolio. While maintaining its lead as the preferred teachers’ bank in the Southeast Asian country, it also offers pension, motorcycle, company employee, and government salary loans.

CitySavings has been at the forefront of providing innovative banking solutions for its customers. Some of its financial products are Visa Debit Card, which enables customers to perform seamless online money transactions, and the Talk to Maria chatbot, which provides 24/7 customer service.

CitySavings is poised to expand its digital transformation initiatives, while driven by data science and artificial intelligence (AI).

The financial institution is also piloting artificial intelligence-driven solutions designed to improve customer relevance for availing loans and enhance its credit scoring model for loan processing.

The Aboitiz Group, which is a Philippine holding company and operates in major industries like power, banking and financial services, food, infrastructure, data science and artificial intelligence, has a transformation growth strategy to become the archipelago country’s first techglomerate. 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’ digital transformation journey.

After receiving the honour, CitySavings Vice Chairman and CEO Lorenzo T. Ocampo said, “We remain steadfast in our commitment to serving our customers and communities to make banking simple for them. On behalf of all CitySavings Bankers, I humbly accept this international recognition. This award is a testament to our dedication to customers and our advocacy to elevate the lives of our clients through relevant digital solutions.”

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