Savings bank

City Savings Bank appoints new chairman and boosts digitization

Henry Aguda, Chief Technology and Operations Officer and Chief Transformation Officer of Union Bank of the Philippines, is the new Chairman of the Board of City Savings Bank. CONTRIBUTED PHOTO

CITY SAVINGS Bank (CitySavings), the savings subsidiary of Union Bank of the Philippines (UnionBank), is stepping up its digital transformation as part of its vision to help people of modest means.

This comes along with the appointment of UnionBank’s Chief Technology and Operations Officer and Chief Transformation Officer Henry Aguda as the new Chairman of the Board, whose expertise is expected to drive UnionBank’s digital transformation initiative. CitySavings.

“Henry brings with him a wealth of expertise which has also been instrumental in the success of UnionBank’s digital transformation. With his appointment as the new Chairman, we are confident that CitySavings will be able to go further on its journey of transformation, enabling it to meet the needs of the underserved much better,” says Larry Ocampo, President and CEO of CitySavings.

“CitySavings has helped many of our kababayan (compatriots) with accessible financing options, and our priority is to bring these loans to even more potential customers by leveraging the bank’s existing customer touchpoints and the infrastructure that connects them. support, powered by artificial intelligence (AI), created by our data science and AI team,” says Aguda.

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CitySavings has seen great results with its initial pilot of AI-powered solutions that use historical data to improve customer loan relevance, achieving a 35% conversion rate in its test phase. CitySavings also created an internal credit scoring model to complement its AI capabilities, which improved execution times and enabled the Bank to grow its motorcycle loan book to 7.06 billion. of pesos at the end of March.

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