UBX Philippines Corp. recently made available their consumer solutions geared toward financial institutions as well as micro, small and medium enterprises (MSMEs) “that are free to try, easy to get started and work seamlessly together.”
John Januszczak, UBX president and chief executive officer, said at the 4th UnionBank E-TalkTales held via Zoom recently, that the fintech company “creates opportunity and access for all by connecting communities and embedding financial services into the activities and experiences that truly matter to businesses and people.”
With the theme “UBX: Changing the Face of Banking,” the virtual conversation centered on products that digitize rural banks’ processes and products, connect MSMEs in a marketplace and provide tools for their business, and enable institutions to provide financial access to more MSMEs, among others.
Done through UBX’s partnership with OneConnect Financial Technologies, SeekCap is an online lending marketplace allowing Filipino business owners to access credit fast and easy.
Since the pandemic started, Januszczak said the application volumes are up over 300 percent, which for him is not surprising as MSMEs have been acutely affected than larger businesses.
The coronavirus pandemic has drastically changed consumer behavior and how businesses operate, leading to a golden age for e-commerce, noted Januszczak. All businesses, particularly MSMEs, have had to start transacting online out of sheer necessity. bux accepts multiple payment methods and has instant access to a user’s funds. There are about 80,000 sellers registered on the platform, Januszczak said.
At some point, MSMEs move from very simple to real e-commerce platforms. To make this transition easier, the online shop builder Sentro was created. Januszczak said 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.
The PHX-powered i2i is a Bangko Sentral ng Pilipinas-approved blockchain-based platform that gives financial institutions access to an efficient, secure, highly reliable infrastructure.
This platform helps institutions go digital with services such as mobile ATM, agency banking, digital credit scoring and more. Januszczak said the Department of Social Welfare and Development is currently leveraging the reach of i2i for distribution of the Social Amelioration Program.
The fintech company also continues to invest in the future, helping to bring innovation from companies in the UBX venture fund to market. For example, 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. Januszczak said they are looking at democratizing real estate through asset tokenization using their Biddit platform.