Culture of Innovativeness Assessment: UnionBank of the Philippines - - PDF document

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Culture of Innovativeness Assessment: UnionBank

• f the Philippines Presentation

Presentation · February 2019

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Union Bank of the Philippines

“Driven by Passion. Powered by Excellence TM206 - Group 4

Chaves · Iturralde · King · Mate · Riano · Rosendo

“Making the Diff” &

Facilitator of a Culture of Innovativeness

• Manager’s Willingness to

Cannibalize

• Learning Orientations
• Product Champions
• Skunk Works
• Unlearning
• Creative Destruction
• Compensation for Innovation
• Risk T
• lerance
• Corporate Imagination
• T
• p Management Attention
• Expeditionary Marketing

Manager’s Willingness to Cannibalize

• Embracing the Agile Model
• Digital Transformation
• Formulating new formulas for

the digital transformation, hiring top level management talents

• Restructuring the office space
• Embracing new technologies
• Engaging with partners

Learning Orientation

• Leader - Executive

Accelerated Development (LEAD) Management Trainee Program

• UnionBank University

e-learning portal

• Blockchain Institute
• Upskilling
• Future-proofing
• First-mover advantages

Product Champion

• Overall lead for the direction
• f the product
• Materializes and prioritizes

ideas

• Product champion: CLIENT
• Immersion
• Observation
• Needs and wants of client

Skunk Works

• Focus on stability and agility.
• Framework depends on

strategic investments.

• Have different KPIs and reward

systems.

• Work in sandboxes to create

products that become disruptors.

• UBX is UBP’s technology and

innovation hub.

• “Success is defined by the

team.” (Omila, 2019)

Unlearning

• "Are we able to add value to the

lives of our customers?" (Omila, 2019)

• If a process does not add value,

it is removed.

• Encourage the employees to

provide constructive criticisms and feedback if they feel that there is a problem with the current processes.

• Make employees think like they

are the boss.

Creative Destruction

• UBP is rooted on its call for

financial and prosperity inclusion

• Best digital bank in 2017
• Introduced the 1st online

banking service

• Project i2i does away with the

manual system in rural areas to digitize them for connectivity to the central financial system

Compensation for Innovation

• Direct Support from Top

Management

• Appointed Selection Committee
• Cash and in-kind rewards
• The company’s way of saying,

“Thank you”

• Creating a culture of Rewarding

& Appreciation for their ‘internal clients’ or ‘first customers’

Risk Tolerance

• “Not one size fits all”
• Safeguard and protect

customer data

• Earmarks risk done in

experimentation

• Rewards mechanism in place
• Involves transformation of

risk management

• Includes regulatory

institutions such as BSP

Corporate Imagination

• Creating an atmosphere of

creativity

• Activities and programs such

as LEAD and Go Beyond Service programs

• Tapping markets that do not

exist yet (Mohr, et.al, 2014)

• UBP BlockChain Institute

engaging the rural banks

Top Management Attention

• “Leadership needs to develop

new muscles new capabilities”

• UBP executes own DNA and

transform the organization into an Agile organization.

• Creates startup mentality in

a corporate setting

• Empowerment is given to the

squad to do their marketing research specific to their tribes

Expeditionary Marketing

• UPB marketing serves new market

and follows consumers’ wants and needs of how a typical consumer does in a daily basis.

• The company touches the lives of

the people and market based on new digital medium of today e.g. social media etc.

• Don’t pay or hire celebrities as

endorsers because they believe more on what their internal talents can do.

• New Union Bank logo launching

DENNIS D. OMILA

SEVP, Chief Information Officer

Special Thanks To