The provincial government of Oriental Mindoro tapped the open finance platform UBX to beef up its digital transformation initiatives and promote greater financial and social inclusion.
Under this partnership, UBX will equip the local government of Oriental Mindoro with open finance technology for payments, disbursements, and loans. It also includes support from its verticals i2i, the banking-as-a-service platform of UBX, BUx, an all-in-one payment gateway platform, Seekcap, its online lending platform, and AKIN, an open ecosystem for decentralized identity management.
With the support of DigiPinas and UBX, Oriental Mindoro can leverage digital solutions for all government transactions, from tax collections, and application processes, to payments.
“Time and again, we have emphasized the important role that local government units (LGU) play in driving digital services that fully cater to their constituents on a more intimate scale,” said Mikan Leachon, spokesperson of DigiPinas. “With Oriental Mindoro leading the pack, we are one step closer to realizing the government’s desire to pursue digital transformation.”
Aside from digital government transactions in the gubernatorial capital, Oriental Mindoro also plans to maximize the partnership to develop its tourism sector, capitalizing on the rise of domestic tourism in recent months.
By enabling digital transactions in ports and transport terminals, Oriental Mindoro will provide visitors the ease of travel when enjoying its cultural heritage or visiting pristine beaches and majestic mountains, or observing its diverse flora and fauna.
“We hope that by being the country’s first-ever digital province powered by UBX, more and more people will be enticed to see Oriental Mindoro’s beauty for themselves,” said Oriental Mindoro Governor Bonz Dolor.
The partnership also seeks to benefit the micro, small and medium-sized enterprises (MSMEs), which include sari-sari stores, canteens, and small stalls that rely on loans to sustain their businesses. SeekCap provides entrepreneurs with democratized access to loans that they need to expand their businesses.
i2i can empower MSMEs to become cash agents, enabling them to process financial transactions similar to banks.