Asia United Bank (AUB) is beefing up its information technology (IT) infrastructure, including the use of artificial intelligence (AI), as it aims to be the local banking industry’s “digital partner of choice.”
During the bank’s annual stockholders’ meeting, AUB President Manuel A. Gomez noted that they have successfully partnered with some of the biggest digital payment networks in the region and in the world.
“Over the years, the entire team at AUB has been forging ahead, working closely with digital partners, to drive shared success and create greater value for our customers and for the country,” he said.
Gomez noted that “we have been consistently building our reputation as ‘Digital Partner of Choice’ by advocating for open collaboration and helping others share in our success.”
He cited AUB’s HelloMoney e-wallet and its all-in-one digital payment acceptance product; AUB PayMate, which has been revolutionizing cross-border digital payments with the help of regional digital payment networks such as Alipay+, Liquid Group; and Hana Bank of Korea’s GLN International, to name a few.
Last March, AUB signed an agreement with GLN International, the global payment network subsidiary of Korean banking giant KEB Hana Bank, to facilitate cross-border quick response (QR) code payments so Korean tourists can make QR payments to local merchants using the mobile wallets issued in their home country.
In addition, AUB partnered with Mastercard to launch a virtual card to give Mocasa customers access to Mastercard’s online merchant acceptance network, enabling them to make payments seamlessly and safely to millions of merchants online.
“Through these digital partnerships, we have been enabling all types of merchants to accept digital payments from their customers. This boosts our tourism, retail, food and beverage, and attractions in the Philippines, and ultimately, our domestic economy. These digital payment enablers choose to partner with AUB first because of our impressive track record in this space,” Gomez added.
To remain a credible and attractive digital partner, Gomez said the bank “must focus on making our IT infrastructure more robust and reliable, build up platform capabilities, invest more in our people’s skills training, and promote greater collaboration for innovation.”
As banks are starting to use AI models to deliver delightful customer experiences, he said, “it's clear that digitalization, AI, and collaboration are the path forward.”