Unionbank’s fintech subsidiary saw exponential growth across all industries in 2022

UBX Philippines Corp., the monetary know-how (fintech) arm of the Aboitiz household, introduced final Tuesday that it closed 2022 with “exponential development” throughout all of its verticals.

John Januszczak, the corporate’s president, mentioned that UBX’s buyer base has grown 184-fold over the previous three years, bringing transaction quantity to a development fee of 411-fold to succeed in 41 billion pesetas by the tip of 2022.

On the finish of December, it has 230,000 business-to-business prospects, “serving tens of millions of native prospects daily.”

“These numbers replicate our dedication to our objective of economic inclusion. Our development in 2022, amid a rustic recovering from the pandemic, is according to our efficiency through the years. We’re assured that this yr we are going to proceed on our development trajectory as we develop our open finance initiatives and introduce new digital finance options,” mentioned Januszczak.

Damaged down, i2i, UBX’s banking-as-a-service platform, noticed transaction quantity development of 132 % via the tip of 2022. The platform has greater than 10,000 touchpoints throughout the nation, offering fundamental banking providers in rural and distant areas.

In the meantime, in 2022, UBX’s SeekCap on-line lending platform processed enterprise loans price over 14 billion pesetas from greater than 65,000 micro, small and medium-sized enterprises (MSMEs).

The platform connects lenders and MSMEs on-line. It’s the first same-day approval of the digital lending market within the Philippines.

UnionBank’s wholly-owned subsidiary BUx’s end-to-end fee gateway has seen over 100,000 sign-ups from MSMEs utilizing the digital funds platform.

Januszczak attributed UBX’s development to its “complete providing of embedded monetary providers and options and a community of the nation’s largest and most revered monetary establishments and repair suppliers, insurers, lenders and fee channels.”

New companions

AIM World, a direct gross sales firm for dietary dietary supplements and natural merchandise with 5 million distributors around the globe, has an area community of greater than three million distributors. In its fifteenth yr, the corporate opened its latest subsidiary, Orbix Victus Worldwide (OVI), as a part of its enlargement.

Along with providing well being and wellness merchandise, Orbix Victus Worldwide (OVI) additionally promotes monetary literacy consciousness amongst its channel companions and creates worth by offering its workers with entry to digital monetary providers by way of UBX.

“Partnering with UBX offers us the boldness that we’re getting the perfect digital options to develop our product vary. With its standing because the nation’s chief in open finance, we look ahead to studying the tips of the commerce and increasing our data to serve extra Filipinos nationwide,” mentioned Eduardo Cabantog, CEO of AIM World and OVI.

The cell app will likely be launched within the first quarter of 2023.

Final yr, UBX partnered with numerous gamers throughout industries, together with the Metaverse, insurance coverage, the ladies’s sector, and even authorities establishments to advertise monetary inclusion.

As a part of its dedication to selling true monetary inclusion, UBX is open to partnering with different organizations to develop personalized digital monetary options to bridge monetary and social gaps.

“Our partnership with AIM World and OVI indicators that extra organizations past finance have an interest and keen to assist the objective of selling monetary and social inclusion. We’re dedicated to working with extra companions to additional advance this agenda to allow extra Filipinos to take part in and make the most of the monetary programs,” Gorospe mentioned.


UBX additionally doubled its authorities partnerships in 2022.

It launched the Digital Transformation ng Pilipinas (DigiPinas) Initiative, a multi-stakeholder advocacy aimed toward digitally reworking native authorities entities via digital instruments and options

UBX additionally spearheaded the creation of the Open Finance Basis, which champions the adoption, schooling and client analysis and safety wanted to appreciate the advantages of open finance.

The inspiration brings collectively related stakeholders, together with different monetary establishments, authorities companies, non-governmental organizations and extra, to create initiatives that assist the event of open finance within the nation.

UBX was additionally developed by the Philippine Postal Corp. tapped to assist form the Kasama Lahat undertaking, an initiative that goals to rework submit places of work into digital monetary facilities to carry monetary providers nearer to the lots.

“We consider in a future formed by monetary and social inclusion. At UBX, we’re dedicated to our objective of inclusive monetary programs. And we plan to speed up our initiatives this yr by strengthening our partnerships with authorities, the non-public sector and civil society organizations,” mentioned Januszczak.