UBX, UNO tie-up for MSMEs.

UBX, one of the country’s primary open finance platforms, has entered into a strategic partnership with UNOBank (UNO Digital Bank), Southeast Asia’s first full-spectrum digital bank, to make credit more accessible to micro, small and medium enterprises (MSMEs) nationwide.

Through this collaboration, SeekCap will be able to further support MSME financing, while providing a wider platform for UNO Digital Bank to reach more customers.

With the alliance, micro entrepreneurs will be able to get financing even in the absence of formal financial data, utilising the combination of alternative data and psychometric scoring, which further democratizes access to credit to provide the necessary capital to expand their business. This initiative is done through UBX’ loans marketplace platform, Seekcap.

“SeekCap is the product of UBX’s desire to reach MSMEs, who traditionally, have no access to financing to grow their businesses because of the stringent requirements of banking. By democratizing access to loans, now with the help of UNO Digital Bank, we are not just contributing to the expansion of MSMEs but the economic growth of the Philippines as well,” UBX President and CEO John Januszczak said.

UNO Digital Bank is South East Asia’s first full-spectrum digital bank licensed under the Bangko Sentral ng Pilipinas (BSP). It is one out of only six digital banks licensed by the BSP.

A convenient alternative to traditional lending companies, SeekCap leverages its partners’ wide user base to offer loans to businesses. Its existing partners include leading online marketplace Lazada and online food and grocery delivery platform foodpanda, among many others.

With the addition of UNO Digital Bank, microentrepreneurs will have a more seamless and digital experience in their entire financing journey.

The partnership makes it possible for potential borrowers to secure a loan term of 12 months and borrow as high as 250,000 PHP without the need for collateral.