LEVERAGING its partnership with a German multinational software corporation, the Union Bank of the Philippines said it is eyeing to establish the first known “data-science factory” banking model in Southeast Asia’s financial industry. The Aboitiz-led bank said that it was capitalizing on the expertise of SAP AG’s data intelligence product to introduce a new banking model that it expects to support “more customer-centric services.” The day of the issuance of the statement saw UnionBank’s shares hopping 1.71 percent, or P1.20, to close at P71.20 apiece amid the 0.21-percent rise for the benchmark index on Monday.

UnionBank said the banking model will boost its business management, improve its internal processes and enhance end-to-end perspective of all operations.

Such is needed as more data is being handled when shifting to digital banking services, UnionBank Senior Advisor for Data and Artificial Intelligence David Hardoon was quoted in a statement the listed bank issued last Monday.

“We need to ensure that there is strong governance behind our processes to ensure that the data-building has been validated and verified,” Hardoon said. “We need to assure that whatever solutions or services we deploy are of the highest regard to fulfill our responsibilities to our customers.”

The data management solutions firm has already provided UnionBank the tools to create and integrate the digital model into its systems, which can help the bank to innovate in a “resilient, governed, and secure manner,” he said.

“SAP Data Intelligence’s ability to gather and interpret data has helped UnionBank to better understand their customers and provide a more convenient and comfortable experience not only for their customers but also to their employees,” Edler R. Panlilio, Managing Director of SAP Philippines, was quoted in the statement as saying.

The data solution supporting the new digital model is seen to boost hyper-personalization of each customer’s account. This feature helps the bank to better understand the financial capabilities of the clients so it can support their financial goals.

“Personalizing these accounts can also help the bank fulfill its responsibilities, such as providing loans or managing savings with ease while protecting its customers’ privacy,” UnionBank’s statement read.

“The digital banking model does not only provide better services for the customers but also serves as a critical pillar on the governance and management of internal processes,” the bank said. “It will equip tellers, management, and other internal staff with the necessary tools they would need to provide customers with improved and high-quality services.”

Overall, the digital solution was chosen because it can transform the data into vital insights that can push for innovation.

The bank can find relevant information through enriched metadata tags, user-generated ratings and comments, and unified business glossaries. The data management solution can also “build an enterprise data fabric that connects data silos and increases visibility into global data assets.”