UNO Digital Bank secured consecutive victories, clinching the “Open Banking Initiative of the Year” award at the Asia Banking and Finance (ABF) Awards, while Manish Bhai, president and CEO of UNO Bank, was honored as the “Digital Banker of the Year in Asia Pacific” at the 2023 World Digital Bank Awards.
ABF recognized UNO Digital Bank for its innovative strides in open banking and commitment to financial inclusion, as the company continues to provide customers with simpler, improved, and more accessible banking services.
Asia Banking and Finance Awards
UNO Digital Bank earned the “Open Banking Initiative of the Year” award for the success of its partnership with one of the country’s leading mobile wallet platforms, GCash, which has enriched the lives of its 81 million registered Filipino users. This collaboration allowed customers to easily open high-interest earning savings and time deposit accounts with UNO Digital Bank through the GCash App.
One notable achievement of the project was the simplification of the electronic Know-Your-Customer (eKYC) process, enabling verified GCash users to open a UNO account within minutes and gain easy access to UNO’s products and services. UNO Digital Bank in GSave was initially launched for Closed User Group testing in December 2022 and smoothly transitioned to its public launch on March 8, 2023.
This partnership also represents a significant innovation and competition within the financial services landscape, serving as a testament to the true advantages of open banking. Together, they aim to make financial services accessible to all and meet the evolving needs of customers in the Philippines.
World Digital Bank Awards
By receiving the “Digital Banker of the Year” award in the Asia Pacific region, Bhai was recognized for his successful leadership in championing UNO Digital Bank’s groundbreaking initiatives, enabling it to operate and launch within months of securing a digital banking license from the Bangko Sentral ng Pilipinas (BSP).
“This award is a testament to the relentless innovation and dedication of an exceptional team, supporting me every step of the way,” Bhai said in his acceptance speech. “Moving forward, we will continue to lead in innovations that will shape the future of digital banking.”
UNO Digital Bank, which currently serves over 550,000 users, received recognition at these esteemed awards, underscoring its dedication to advancing financial inclusion and fostering innovation in the digital banking landscape of the Philippines. As the digital banking sector continues to evolve, UNO Digital Bank remains committed to empowering unbanked Filipinos with its customer-centric solutions and services.
Categories: Business Features