The adoption of digitization in the Philippines’ banking sector has been slow compared to the rest of the Asia-Pacific region. According to a McKinsey report, Banks in the Philippines spend less than 10% of their revenue on IT compared to an APAC average of 15%.
This situation, however, is changing rapidly with institutions like EastWest Bank, a leading commercial bank in the Philippines, which has been a forerunner in digital transformation.
We spoke to Efren Dela Cruz, Head of Innovation Center for Excellence at EastWest Bank to learn about their digital transformation journey and how it has helped them stay ahead in this competitive arena.
Key trends shaping the future of banking
Customers’ expectations and behavior are not the same as they used to be a few years back. Today’s customers have much higher expectations, such as hyper-personalized interactions, automated assistance, and proactive services from their banks.
In our latest Messaging Trends Report 2025, we have analyzed 530 billion mobile channel interactions that took place on our platform and noticed that banks and financial institutions are making significant progress in leveraging AI to improve customer experience and efficiency of their workflows.
According to Efren Dela Cruz when it comes to digitalization, the following trends play an important role in the banking industry:
The emergence of Conversational AI
With the use of AI-powered chatbots and digital assistants, banks have been able to help customers conduct regular banking activities, such as transferring money, accessing bank statements, or even paying bills. Conversational AI has been one of the key drivers for banks’ move towards digital transformation.
Machine Learning
Implementing machine learning (ML) technology allows banks and financial institutions to deliver personalized banking solutions leveraging customer data. Machine learning is considered an important element in improving the overall banking process by predicting customer behavior.
AI automation
AI automation supports the shift from traditional to digital banking. By leveraging automation, banks can improve operational processes, increase agents’ productivity, and minimize human errors.
Banks that integrate these technologies into their front-end and back-end operations can eliminate outdated physical processes, streamline operations, and stay ahead of the competitive curve.
EastWest Bank is currently invested in all three in varying degrees. Harmonizing all three into a seamless and cogent front-to-back customer journey is a challenge that it is currently taking on.
Efren Dela Cruz
Head of Innovation Center for Excellence at EastWest Bank
From uniformity to nimbleness: The evolving digital strategy
The journey of EastWest Bank began with an enterprise approach, where the goal was to bring all services under a single universal banking portfolio. This approach allowed the bank to maintain uniformity, consistency, and continuity across its business lines.
However, speeding up their processes was seen as a crucial element, just like modern fintech companies, so it moved ahead to shift from a universal setup to a more decentralized model.
Accomplishing its short-term goals, the bank is now on the path to transitioning to a hybrid model, where it enjoys the dual advantage of control and uniformity under an enterprise approach along with the agility and flexibility of controlled autonomy.
Implementing a successful omnichannel communication strategy:
As the communication process has evolved from multichannel to omnichannel, most banks are adopting omnichannel banking. Unlike multichannel banking, omnichannel banking is an integrated approach where all touchpoints are combined and can interact seamlessly with each other.
In our Messaging Trends Report, we have observed that the number of businesses using more than two channels has increased from 15% in 2024 to over 25% in 2025. Notably, in the finance industry, the popular channel combination is SMS paired with either Viber or WhatsApp, accounting for 37% of usage.
According to Efren Dela Cruz, implementing omnichannel communication and automation is often challenging due to the difficulty of integrating disparate systems.
Banks need to approach multiple solution providers because no vendors offer complete solutions. However, the real challenge comes in seamless integration and interaction between channels, further complicating development and execution.
As seen, even developing a standalone solution usually takes 12-24 months to develop, test, and implement, so enterprise omnichannel service will demand more time and monetary investment.
Leveraging technology to stand tall in the competitive market
EastWest Bank is taking a modular approach in using different technologies to build a competitive digital advantage.
Efren Dela Cruz
Head of Innovation Center for Excellence at EastWest Bank
Today, traditional banks face huge competition from fintech companies that are adopting the latest technologies to create better customer experience. For traditional banks, adopting the same has become a lifeline so that they don’t become obsolete.
When it comes to adopting the latest technologies, there are already too many available, so attempting to master everything is not feasible. EastWest Bank has taken a modular approach here, focusing on areas where it already has some expertise.
They wanted to build a digital edge by upgrading the technology they already use. Conversational AI is one such area where the bank has an advantage over its competitors.
Infobip x EastWest Bank: A partnership making an impact
Our partnership with EastWest Bank has been a key driver in transforming the bank’s customer experience strategy. Using our omnichannel customer engagement solution the bank integrated multiple touchpoints such as SMS, Voice, Email, and Viber for Business to create a holistic customer experience.
SMS and Voice are the key channels for authenticating user’s transactions seamlessly whereas email serves as an important communication medium to send timely notifications.
Additionally, recognizing Viber’s effectiveness in the Philippines, the bank leveraged it on our platform for new product promotion and drive customer acquisition.
Infobip is a pioneer in direct customer touchpoint capability. Initially via SMS, and now expanded to email and social messaging. These are, in fact, the first and most essential legs of customer interaction. We intend to continue to take full advantage of their competencies under our modular approach.
Efren Dela Cruz
Head of Innovation Center for Excellence at EastWest Bank
This collaboration reflects a broader shift in the banking sector. Omnichannel banking is no longer a trend, it’s a standard. It’s transforming how financial institutions connect with customers by enabling meaningful, personalized interactions at every stage of the journey.
As a global leader in omnichannel communication, we’ve supported banks and financial service providers in implementing intelligent automation and streamlining customer engagement. Whether you’re aiming to improve retention, acquisition, or operational efficiency, our platform enables you to do more—faster and smarter.
We’d love to hear how you’re planning to evolve your business’s communication strategy.
