Visa recently presented Union Bank of the Philippines (UnionBank) with the Champion Security Award for 2023. According to Visa, no other bank in Asia Pacific has received this award in the last 5-10 years, making UnionBank the first and only Philippine bank to receive such a distinction.
“UnionBank has stood out among others due to its exceptional performance based on a number of key metrics as determined and measured by the risk team at Visa,” said Jeff Navarro, Visa Philippines Country Manager. “We recognize the Bank’s capabilities in managing issuing fraud rates, issuer authentication approval rates, acquirer fraud rates, and risk program identifications.”
Visa established the Champion Security Award nearly a decade ago, annually honoring exceptional clients from various sub-regions such as Indonesia, Philippines, Vietnam, Myanmar and Cambodia for their outstanding contributions in combating fraud and introducing innovations in cashless payments and transactions. Recognition at a country level was introduced last year with a single recipient selected annually.
“We are very grateful to Visa for recognizing the widespread efforts of UnionBank in ensuring secure, efficient, and innovative card and digital payment options for our users,” said UnionBank Senior Vice-President Christopher Go, “Considering the strides we have made in cards acquisition and management this year, the Bank is strongly committed to maintain and even surpass the service we provide our customers.”
UnionBank is also a contender for Visa’s regional level awards. The Visa Champion Security Award along with previous awards like the Marketing Company of the Year at the 42nd Agora Awards, and Best Retail Bank in the Philippines at The Asian Banker’s Global Excellence in Retail Awards 2024. underscores UnionBank’s commitment to providing customers with a superior, innovative, and secure banking experience.
