|UBX ushers in the age of embedded banking in the Philippines, where banking services are woven into the very fabric of everyday life. Under UBX, UnionBank launched Project i2i, which stands for “island-to-island, institution-to-institution, and individual-to-individual” — a blockchain-based transaction and retail payments system that aims to serve as a catalyst to inclusive prosperity for the 35 million unbanked in the country by enabling different institutions, such as rural banks, cooperatives, and microfinance institutions to be part of a bigger financial network. i2i aims to provide immediate access to a wide array of financial products and a cost-efficient platform to execute these transactions.
UBX also features the UnionBank GlobalLinker, a social networking platform that helps micro, small and medium-sized enterprises (MSMEs) grow their business with tools for business management and network expansion. Providing offers tailor-fit to MSMEs’ needs, the free platform is open to UnionBank and non-UnionBank customers. Finally, UBX includes the Blockchain Institute that offers a six-month program to equip developers with capabilities focused on blockchain, addressing the scarcity of blockchain talents in the current ecosystem. It is also an innovation lab that not only offers coding and development, but also works on actual use cases in the organization and provides working blockchain solutions.