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UnionBank bets on digital users for growth

MANILA – Digital customers transact 6 times more and with 12 times more revenue potential compared to offline users, UnionBank president Edwin Bautista said Monday.

Unionbank recorded the highest transaction volume on PesoNet, which services multiple lenders, despite ranking 9th in the industry based on assets, Bautista said.

"It's fascinating, we’re not number one in terms of assets but when it comes to digital transactions it turns out we could be number one," he told The Briefing on ANC's Market Edge.

"That’s very encouraging for us. It provides us with a strong boost even without increasing the customer base," he said.

UnionBank introduced its The Ark digital bank branches last year, equipped with touch screens, virtual reality devices and tablets in place of tellers. It plans to to operate a 40 Ark branches by the end of the year, Bautista said.

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