UBX recognized anew as Fastest Growing FinTech Company in South East Asia for 2021

Global Banking and Finance Review, a leading online and print finance publication, named UBX as the Fastest Growing Fintech Company in South East Asia for 2021. This is the second year in a row that UBX was recognized with this award.

With this back-to-back recognition, UBX demonstrates that it is living up to its mission of creating opportunity and access to financial services for everyone by designing solutions for digitally and financially underserved communities.

Union Bank of the Philippines (UnionBank) spun off its fintech venture studio and fund, UBX, in 2018, two years after embarking on its digital transformation. UBX envisions a world in which financial services are effortlessly integrated into the activities and experiences that really matter to businesses and people.

UBX’s i2i, the nation’s fastest growing payments network, digitally enables financial institutions and other community based financial service providers. In a timely response to the pandemic and the need to digitally enable distribution and access to funds, i2i built its Mobile ATM that brings ATM services to the community while also providing an additional source of income to businesses. Reducing travel and bringing cash distribution closer to home means safer access to funds while saving ATM customers time and money. Monthly i2i Mobile ATM volumes rose 3000% in the last six months of 2020. In 2021, i2i acquired over 1,500 new financial service providers and agents to the network via a joint venture with the Irish financial services technology giant Fexco.

Elsie Dizon, an i2i Mobile ATM sari-sari store owner partner, said, “Natutuwa ako kasi kahit wala pang isang buwan ang aking i2i MATM business, nadagdagan na ‘yung customers ko. At siyempre namimili din sila ng ilang items sa tindahan ko pagkatapos nilang mag-withdraw. Masaya din sila kasi merong mas malapit na ATM services sa kanila at kahit sa ibang barangay, dito rin sila nagwi-withdraw sa akin. Nagpapasalamat ako sa i2i Mobile ATM dahil nadagdagan ang kabuhayan ko.”

“I’m glad because even though my i2i MATM business is less than a month old, my customers have increased. And of course, they also buy some items in my store after they withdraw. They are also happy because ATM services are closer to them now and even in other barangays, they also withdraw from my store. I am really thankful to i2i Mobile ATM because it has helped grow my livelihood.”

UBX also has SeekCap, the country’s first online lending marketplace, which has the capacity and capability to facilitate lenders in scaling their lending processes through innovative technology, as well as enable business owners to access credit digitally with faster turnaround time and less hassle. Application, processing and disbursement is purely digital. To date, over 40,000 MSMEs have registered on SeekCap and the marketplace has processed over P2 billion worth of business loans.

As ecommerce sites grow in popularity, most Filipinos are shifting to online payments and going digital when it comes to shopping. UBX’s Bux and Sentro solutions empower both merchants and consumers through technology.

Bux is UBX’s end-to-end payment gateway for all businesses – from the smallest casual seller to the largest enterprise. With over 100,000 businesses signed up, it continues to grow during this pandemic. Recently features launched include Universal QR code, digital checkout and Shopify integration.

“Our store J&A Tickets and Tours is very happy working with BUX and Sentro. It enables our stores to secure payments from our clients thru our Facebook pages. We are able to help travelers to save money by accepting payments without remittance charges. We are able to grow the number of affiliate agents we have. We are able to leverage our services and maximize the benefits of our contracts with the suppliers. Thank you for empowering our store in the countryside.” from John Pineda, Owner of J&A Tickets and Tours

The country’s first free online Shop Builder, Sentro, celebrates its first year of delivering an all-in-one ecommerce platform for Filipino business owners to jump-start, run, and grow their enterprises. To date, it powers over 30,000 merchants across the country. Facebook Business Shop owners can link their stores to Sentro. This enables them to convert their stores from a marketing outlet to a full-fledged e-commerce store. Within minutes, Facebook Shop business owners can automatically accept payments, handle orders, and book deliveries through Sentro from their supercharged Facebook Shop.

UBX also has QLabs, a one-stop shop for web, mobile, and platforms design and development. It co-creates solutions for businesses, powered by a team equipped with full-stack development capabilities and end-to-end services. QLABs developed PERA HUB’s mobile application to implement their bills payment feature. This allows customers to use the PERA HUB application to pay bills to over 3000 merchants. UBX is the gateway to fintech in the Philippines.

With the uncertainties and challenges brought by the pandemic, one thing’s for sure – UBX continues to create digital platforms and marketplaces providing opportunity and access for digitally and financially underserved Filipino communities.

To read the original article from Manila Bulletin, click here.

UBX wins Best Digital Community Impact Initiative Southeast Asia 2020

A digital revolution is underway in the Filipino finance market, with fintech champion UBX leading the charge. UBX serves as the fintech arm of local giant Union Bank of the Philippines (UnionBank), operating as a separate entity to manage tech initiatives, build platforms and make investments in fintechs. The UBX moniker is a clever representation of that mission statement: UnionBank to the power of x. It creates opportunities through collaborative partnerships and the application of innovative technology. The UBX line-up features UnionBank-incubated solutions such as the i2i and platforms such as BUX, Sentro and SeekCap.

BUX is an embedded eCommerce platform helping to grease e-commerce wheels. Sentro provides tools to build online stores in minutes. Blockchain-based i2i targets underbanked rural populations by connecting them to financial institutions across the country. The breakthrough solution has enabled citizens in hard-to-reach areas to access the government’s Covid-19 stimulus payments.

As a fintech, UBX is not constrained by traditional banking regulations and encourages out-of-the-box thinking to incorporate financial services into B2B, logistics and financial services ecosystems. The tactic has been proven to boost financial inclusion and promote growth.

UBX launched QLabs, where a talented tech team with blockchain and full-stack development capabilities helps companies on their own digital transformation journeys embed financial services into their consumers’ daily lives.

UBX has just celebrated its first anniversary, and the CFI.co judging panel is pleased to add another candle to the cake. UBX wins the 2020 award for Best Digital Community Impact Initiative (Southeast Asia).

To read the original article by CFI.co here.