According to the supplier, the partnership aims to allow UBX to access Temenos’ core banking software, enable rural banks and microfinance entities to develop a cost-effective way to digitize their operations, make core banking modernization more accessible and allow rural banks to efficiently expand their businesses. Temenos’ T24 Transact coupled with UBX’s open platform development experience is expected to bolster banking capabilities of the FIs in the Philippines.
UBX, through its plug and play services such as i2i, aims to connect the rural banks to the country’s main financial networks thus reaching out to the unbanked Filipinos. i2i uses blockchain technology to assist participating banks in the transformation of their businesses.
Recently, Australian SME focussed Judo Bank has gone live with Temenos T24 Transact, Analytics, Financial Crime Mitigation and Channels- Temenos Infinity’s module, running on Temenos cloud ( hosted on Microsoft Azure).
Based in the Philipines, UBX is a fintech and investment company, driving financial inclusion through its technology, ecosystems and data accessibility. It is a wholly owned subsidiary of UnionBank of the Philippines.
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