UnionBank of the Philippines Cloud Migration Case Study

This case study details the migration of UnionBank of the Philippines' core banking platform to the cloud, specifically utilizing the Finacle Digital Banking suite on AWS. The initiative commenced in July 2021 and culminated in a go-live in December 2022, involving the migration of approximately 8 million customer accounts. UnionBank's ambition to operate fully in the cloud aims to enhance scalability and customer experience while accommodating significant growth, including onboarding 1.2 million new customers annually. The migration is expected to yield a total cost of ownership savings of 44% over five years compared to traditional infrastructure. The shift to a cloud-native architecture has enabled UnionBank to improve operational efficiency, reduce deployment times, and foster innovation through fintech collaborations. The case study also highlights the challenges faced by UnionBank, including the need for a more resilient IT infrastructure to support increasing transaction volumes and the competitive landscape of the Philippine banking sector.