UBX revenues balloon 5x in 2021, aims to ride growth momentum this year

“The year 2021 was a real inflection point for us – it is when we achieved traction. Our goal is to continue to ride on this growth momentum in 2022 through constant innovation and the development of solutions that will further democratize access to financial services. We're connecting people to the financial systems of the country, we're doing it in a way that's more affordable and providing more opportunity and access to everybody, and we believe that improves lives. We believe in a future where financial services are embedded into the everyday experiences and activities that matter to businesses and people. We will continue to introduce more digital financial solutions this year to complement and support the open finance policy framework of the central bank.” ~John Januszczak, UBX President and CEO

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With the demand for digital financial solutions growing at rapid paces due to the pandemic, UBX, the leading open finance platform in the Philippines, recorded remarkable growth in 2021 with revenues ballooning by 5x, a momentum that the fintech innovator aims to ride on in 2022. UBX served over 200,000 business to business customers, partnered with more than 2,000 independent banking agents and 250 financial institutions, and recorded an annual gross transaction value of P20 billion.

Backed by Asia’s top digital bank UnionBank of the Philippines, UBX is the leading open finance platform in the country, enabling interoperability among different financial institutions by making data more accessible and portable. 

UBX offers a spectrum of financial services, providing technology that allows them to be embedded into digital platforms and business ecosystems. 

Over the last three years, UBX invested in building and developing various financial services that create more value for both consumers and businesses. Among its solutions are i2i, SeekCap, Bux, and Sentro. 

A banking-as-a-service solution, i2i brings financial services to underserved communities through its network of financial services providers. 

SeekCap, meanwhile, is the Philippines’ first same-day approval, digital lending marketplace developed for micro, small, medium sized enterprises who need access to credit to run and scale their businesses. 

Bux, on the other hand, is an end-to-end payment gateway for businesses of all sizes. It allows businesses to accept payments from their customers through over 50,000+ of over-the-counter locations, including 7-Eleven and LBC, debit and credit card payments as well as wallet payments via GrabPay and GCash. 

UBX is committed to continue developing new financial solutions this year, as it sees a huge opportunity in the industry with the rollout of the Bangko Sentral ng Pilipinas’ (BSP) policy framework for open finance. 

For more information about the company and this article, please visit www.ubx.ph. For inquiries, email us at hello@ubx.ph.

About UBX

UBX is the Philippines’ leading open finance platform, a fintech spun out of UnionBank of the Philippines. 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.