UBX awarded Best Digital Community Impact Initiative Southeast Asia 2020
UBX – the fintech subsidiary of Union Bank of the Philippines – was recently honored by the London economic magazine Capital Finance International (CFI.co) with the Best Digital Community Impact Initiative Southeast Asia 2020 award.
Based on the report of CFI.co’s judges, UBX is “leading the charge in the Filipino finance market’s digital revolution.”
As a fintech, UBX is not constrained by traditional banking regulations and encourages out-of-the-box thinking to incorporate financial services into B2B, logistic and financial services ecosystems.
This tactic, according to the report, 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.
Two years after taking the bold step to digital transformation, UnionBank spun off its fintech and corporate venture capital arm: UBX.
UBX is predicated on a future where financial services are invisible: seamlessly embedded into the experiences and activities that truly matter to businesses and people. It leverages on compelling ecosystems and data to explore new possibilities – making financial services more instinctive and accessible.
The first year of UBX has seen the impressive commercial launch of four ventures, namely i2i, Sentro, Bux and SeekCap with more than 60,000 clients on board.
The digital platforms of UBX have provided its clients much needed access to technology, and have created marketplaces that otherwise have been impossible for other companies to offer the public during the coronavirus pandemic.
Every year, CFI.co seeks out individuals and organizations that contribute significantly to the convergence of economies and truly add value for all stakeholders. It realizes that best practice is to be found throughout the world.
The awards program aims to identify and reward excellence wherever is found in the hope to inspire others to further improve their own performance.