UBX: Changing the Face of Banking

UnionBank recently held its 4th E-Talk Tales with the topic UBX: Changing the face of banking together with resource speakers John Januszczak, President & CEO of UBX and Matt Knolling, UBX Chief Investments Officer as they share the building platforms for digitally and financially underserved communities, while aggregating and virtualizing financial services to embed in the platforms of others.

For UBX, the technology innovation and investment arm of UnionBank, the future of banking is invisible; embedded into the activities and experiences that matter to businesses and consumers. “BigTech” and emerging non-banking technology platforms are achieving scale and client reach that exceeds that of traditional banks. Digital platforms have become the Main Street of today. UBX is building platforms for digitally and financially underserved communities, while aggregating and virtualizing financial services to embed in the platforms of others. 

Embedded into the experiences that matter - An example is SeekCap, an online credit marketplace for MSMEs, companies that drive over 60% of the economy yet have historically received less than 10% of credit provided by banks. Powering SeekCap is an embeddable lending platform: a digital end to end lending experience that connects multiple lenders to SMEs through platforms they use every day such as Lazada and accounting systems.

Build, Buy & Bridge: besides developing technology, UBX actively invests in the innovation of others through its venture capital fund: ventures such as XLog, a digital logistics platform and AI technology that leverages the vast amounts of data digital platforms are generating. UBX bridges gaps in digital capabilities through its technology services team to help businesses integrate embeddable financial services directly into their systems.

MSME Shift. COVID has drastically changed consumer behaviour and how businesses operate. Trying times have led to a golden age for Ecommerce in all sectors including MSMEs who depend on social platforms for marketing their products and communicating with their customers. BUX, with over 80,000 sellers signed-up, is an embeddable payments platform that accepts all methods of payment and integrates into platforms used by MSMEs for selling online: Facebook, Viber, and more comprehensive ecommerce platforms like Prestashop, Woocommerce, and soon Shopify. UBX even provides its own free ecommerce platform: Sentro. Everyone from casual sellers to mid-tier businesses can create an online web store with built-in inventory management, order tracking, shopping cart, BUX for payments, and courier services such as Mr. Speedy. MSMEs can start selling online in a matter of minutes!

UBX platforms have a positive and material impact on financial inclusion. i2i is a real time payments network connecting community based financial institutions to each other and the national retail payments system. The DSWD is currently leveraging the reach of i2i to distribute SAP relief. i2i helps institutions go digital with services such as i2i mobile ATM, agency banking, digital credit scoring, and more. While i2i is a blockchain enabled, real time payments network leveraging the first BSP approved stablecoin - it’s really about connecting the nation: whether it be distributing relief, sending funds to loved ones, or making it easier to do business in trying times.

UBX continues to invest in the future such as democratizing real estate through asset tokenization using our Biddit platform. UBX is helping to bring innovation from companies in the UBX venture fund to market: PDAX, a UBX investment, recently launched Bonds.ph, a blockchain enabled app that allows Filipinos unrestricted access to buy treasury bills directly through a mobile app. Now and in the future, UBX is changing the face of banking!