Friday,14 June 2024

UNO Digital Bank aims to simplify and elevate banking in the Philippines

5 min read

Interviewed By Foo Boon Ping

Senior executives of the bank discussed their advancements in the Philippines in line with their goal of providing a comprehensive financial services platform for 30 to 40 million customers

Uno Digital Bank’s CEO Manish Bhai and chairman Kalidas Ghose updated us on the bank’s progress in the Philippines. Bhai emphasised the bank’s vision to simplify and elevate banking, making it more accessible to the unbanked and underbanked in the country. 

He observed: “Even after COVID, around 40% [of Filipinos] are unbanked; 90% to 95% are not happy with their financial services.” He highlighted Uno’s mission to provide a single platform that encompasses all aspects of a person’s financial life, from saving and borrowing to investment and protection.

Ghose echoed these sentiments, focusing on the potential that the Philippines offers for digital banking. He described Uno’s platform as “a sophisticated, modern digital banking stack” that caters to a range of customers’ financial needs, especially those in the formal sector and micro, small and medium-sized enterprises. 

He elaborated on the opportunities to serve between 30 and 40 million customers in the formal sector and the extensive supply chain in the Philippines, underscoring the bank’s role in fostering financial discipline and inclusion. He added: “Our platform is suited to cater to their needs, bringing them into mobile banking, reducing their costs, making it more transparent, flexible, and convenient.”

Keywords: Simplifying Banking, Savings, Investment, Single Platform, Financial Inclusion, Mobile Banking, Formal Sector, Msme
Institutions: Uno Digital Bank
Country: The Philippines
People : Manish Bhai, Kalidas Ghose
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