UBX, the leading open finance platform in the Philippines, has teamed up with Tambunting (Tiwala Sa Padala Co. Inc.) to transform the country’s leading Remittance Service company into a modern hub that offers a spectrum of digital financial services.
Under the partnership, i2i, the banking banking-as-a-service platform of UBX, will be empowering Tambunting counters to roll out its Open Finance Platform to its branch network, connecting it to platforms and agents in over 10,000 locations in the country.
With its ubiquity and reach bolstered by the reliable digital solutions of UBX, Tambunting is set to expand its financial services with ease and convenience, especially for those in the countryside.
“We believe in the spirit of collaboration to deliver financial services to our clients. As a mature organization with a storied history, we believe that actively embracing digitalization is not just an option, but a responsibility. Our alliance with UBX is a strategy and a testimony to our commitment to continuously deliver best-in-class services to our customers,” Tiwala sa Padala Director Ramon Tambunting said.
As the demand rises for more digital channels in everyday services, Tambunting brick and mortar branch, powered by i2i, can quickly deliver a wide range of financial services such as deposit taking, loan origination, remittance, e-wallet cash-in, bills payments, and other products and services to its clients with an added customer experience that is simple and reliable.
“UBX puts financial inclusion at the highest degree of importance. Powering Tambunting branches as it ventures into open finance is truly a great honor, as we both share a commitment to promoting accessibility of financial services and bringing these closer to the everyday Filipino,” UBX President John Januzczak said.
In a nutshell, i2i aggregates banking services and UBX’s ventures within one platform, allowing for a more democratized access to financial services for Filipinos through its network partners. Currently, i2i has three portals, a mobile application, a website, and a set of application programming interfaces (APIs).
A cloud-based platform, i2i is built on blockchain and open finance technologies, enabling fast, reliable, and secure financial transactions, including but not limited to wallet transfers, domestic transfers, bills payment, mobile scoring, mobile ATM, and offline and online loan processing, among others.
i2i has seen its transactions ballooning by 5.4x over the last three years, connecting customers to hundreds of financial institutions found in communities, such as rural banks and remittance centers with over 10,000 touchpoints, all over the country.
“UBX is in the business of including everyone in the country’s financial systems. Our partnership with Tambunting (Tiwala sa Padala Co. Inc.) brings us a step closer to our goal, encouraging us to continue to pursue more meaningful collaborations to promote financial inclusion and provide better services to the Filipino people,” Januzczak said.