UBX Philippines Corp., the financial technology (fintech) subsidiary of Unionbank of the Philippines, announced that it had increased its revenue by 5 times in 2021.
“2021 was a real turning point for us; that’s when we hit traction,” UBX Chairman and CEO John Januszczak told the Business Mirror without citing a specific 2021 revenue figure. this growth momentum in 2022 through constant innovation and the development of solutions that will further democratize access to financial services.”
As demand for digital financial solutions grows at a rapid pace due to the pandemic, Januszczak told BusinessMirror that the fintech company has served over 200,000 business customers, partnered with over 2,000 banking agents independents and 250 financial institutions, and recorded an annual gross transaction. worth 20 billion pesos.
The executive added that UBX has achieved interoperability between different financial institutions by making data more accessible and portable.
According to the company’s website, it “offers a range of financial services, providing technology that allows them to be integrated into digital platforms and business ecosystems.”
“We connect people to the country’s financial systems,” Januszczak told BusinessMirror. “We are doing it in a way that is more affordable and provides more opportunities and access for everyone; and we believe it makes life better.
Over the past three years, UBX has invested in building and expanding various financial services that create more value for consumers and businesses. Among its solutions are i2i, SeekCap, Bux and Sentro.
A banking-as-a-service solution, i2i brings financial services to underserved communities through its network of financial service providers.
SeekCap, on the other hand, is the Philippines’ first same-day approval digital loan marketplace developed for micro, small, and medium-sized businesses that need access to credit to run and grow their businesses.
Bux, on the other hand, is an end-to-end payment gateway for businesses of all sizes. It allows businesses to accept payments from their customers through more than 50,000 OTC locations, including 7-Eleven and LBC, debit and credit card payments as well as wallet payments through GrabPay and GCash .
Januszczak said the company will introduce new financial solutions this year as it sees a huge opportunity in the sector with the rollout of the Bangko Sentral ng Pilipinas (BSP) policy framework for open finance.
“We believe in a future where financial services are integrated into the everyday experiences and activities that matter to businesses and individuals,” the executive told BusinessMirror. “We will continue to introduce more digital financial solutions this year to complement and support the central bank’s open financial policy framework.”