Executive Chronicles | EON Bank Enhanced Selfie Banking | EON by UnionBank, the pioneer digital bank in the Philippines, has partnered with Element to further enhance the experience of their Selfie Banking solution. The first of its kind in Southeast Asia, EON’s Selfie Banking uses state-of-the-art facial recognition technology to let customers log in to their accounts simply by posing in front of a smartphone. It’s as easy as opening the EON app and taking a selfie. That’s all there is to it.
Through the partnership, Element’s advanced artificial intelligence-based digital identity solution will level-up the feature set of the Selfie Banking system, making it faster, safer, and more secure.
According to Paolo Baltao, EON Banking Group Head, “At UnionBank, we’ve pioneered bringing key enabling technologies to market, notably with the launch of an upgraded version the Philippines’ first facial recognition solution via our EON banking app. From this valuable experience, we recognized the importance of working with the highest quality partners to ensure performance standards are met.”
“This ultimately led us to the feature suite and expertise that Element provides. Element’s progressive liveness detection, on-premise deployment, and native-to-device authentication is unrivaled in the market and will help us expand beyond our current platforms,” Baltao added.
The great thing about technology is that it is constantly being iterated upon and improved. With machine learning and artificial intelligence, the authentication process becomes even faster and more secure since the software learns as it gathers more data.
July Palafox, Philippines Lead at Element, chimed in saying, “By enabling the Filipino to apply for an EON account from the comfort of their mobile phone, our identity solution helps drive financial inclusion, unlocks easier access to digital services, and provides peace of mind with secure transactions.”
The new features added to the facial recognition system contribute to a multi-factor authentication process that protects EON customers from cybersecurity threats. By partnering with Element and utilizing their technology and expertise, EON ensures a customer experience that is unmatched in the industry.
EON bank continues to pioneer in the Philippine digital banking space. Through their innovations such as Selfie Banking, EON bank delivers the best possible banking experience to its customers.
About EON Bank
EON aims to become the preferred bank for the broader mass market. Currently, it offers a suite of deposits, loans, and payment products, digitally through its website (www.eonbankph.com) and EON Bank PH app, complemented by co-branding partnerships and agent branches nationwide, backed by the strength and stability of Union Bank of the Philippines.
UnionBank has consistently been recognized as one of Asia’s leading companies in banking and finance, ranking among the Philippines’ top 10 universal banks in terms of key performance ratios in profitability, liquidity, solvency, and efficiency.
UnionBank garnered a record-breaking number of awards and recognition in the past three years including “Asia’s Best Bank Transformation” from Euromoney; back-to-back “Best Digital Bank Philippines” from Asiamoney; back-to-back “Digital Bank of the Year Philippines” from The Asset Triple A Awards; Digital Transformer of the Year Philippines” from IDC’s DX Awards Philippines; “Bank of the Year Philippines” from International Investors Business Awards; “Best Universal Bank” from Capital Finance International; “Domestic Retail Bank of the Year Philippines” from Asian Banking & Finance; “Gold – Employer of the Year (Banking)” from Stevie Awards for Great Employers; “Bronze – Employer of the Year in Asia” and “SME Bank of the Year – Philippines” from the Asian Banking and Finance; “Best Companies to Work for in Asia” from HR Asia; “Best Digital Bank” from The Asian Banker; “Most Innovative Cash Management Services Bank Philippines” from Global Banking and Finance Review; “Champion – Best Bank in Digital Financial Inclusion” from Bankers Institute of the Philippines; and “Top PESONet Volume Contributor” at the BSP Stakeholders Awards Ceremony 2019.
As the world demands digital delivery of products and services, Element is delivering a persistent, private, and portable unique digital identity designed with intention. Element – the first modern artificial intelligence company focused on digital identity – laid the foundations for deploying deep learning on mobile devices. Our universal solution learns directly from natural features, ensuring mobile identity for anyone, anywhere.
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