SBI Holdings invests in open finance platform UBX Philippines

SBI Holdings has invested in UBX Philippines, a company driving digital transformation in the Philippines, through the SBI group company.

Following this investment, the SBI Group holds a 16.67% ownership in UBX. UBX emerged as a spin-off from UnionBank of the Philippines in 2018 and focuses on providing digital transformation services for financial institutions, including BaaS and e-wallet development. It also develops open finance platforms such as lending and payment platforms and has a track record of over 250,000 businesses. UBX plans to expand its business bases and develop advanced financial and digital transformation solutions to meet the growing demand for digital services within the Philippines.

With this investment, SBI Holdings and UBX will leverage each other’s expertise and specialized knowledge. Additionally, as the partners anticipate further expansion in the rapidly growing Philippine market, the two companies will explore opportunities for collaboration between SBI Group companies and UBX.

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