SBI Holdings Inc., a Tokyo-based financial services conglomerate, has acquired a minority stake in UBX, a proponent of digital transformation in the Philippines.

SBI said this will allow both parties to collaborate in developing more impactful digital transformation solutions tailored for the needs of enterprises.

UBX will leverage the new capital to expand its footprint and develop advanced financial and digital transformation solutions tailored to meet the increasing demand for digital services in the Philippines, SBI said.  

“We see immense potential in the Philippine market, one of the fastest growing economies in the region. Our investment in UBX reflects our belief and confidence in UnionBank’s innovative approach to digital transformation,” said Yoshitaka Kitao, SBI Holdings president.

The partnership between UBX and SBI Holdings will foster a robust exchange of knowledge and expertise, strengthening UBX’s position as a digital transformation leader while opening new opportunities for SBI Holdings to explore more business opportunities in the burgeoning Philippine market.