Market

Credit-led UNObank rebrands as UNO Digital Bank ahead of launch


Credit-led UNObank Inc., a digital financial institution licensed below the Digital Banking License framework of the Bangko Sentral ng Pilipinas, has rebranded to UNO Digital Bank ahead of its aimed launch on the second quarter of 2022.

The Bangko Sentral ng Pilipinas granted six licenses in 2021 earlier than closing its window for purposes till 2023. Other than UNO Digital Bank, the central financial institution additionally granted digital banking licenses to Landbank’s Abroad Filipino Bank (OF Bank), Singapore-based Tonik Bank, UnionBank’s Union Digital, Gokongwei Group’s GOTyme, and PayMaya’s Maya Bank. Malaysia-based Commerce Worldwide Service provider Bankers Berhad (CIMB) and the Netherland’s-based Internationale Nederlanden Groep (ING) have already got current companies within the Philippines.

Unobank Logo Colored Vertical Large

In relation to this, credit standing company Moody’s mentioned the unbanked or the “uncontested market” helps digital banks seem preferable to non-traditional financial institution licensing candidates such as know-how firms and non-financial conglomerates. Some of the unbanked and underserved potential prospects are “freelancers and proprietors” providing services on the e-commerce market.

“Incumbent banks traditionally avoid these segments because they cannot provide verifiable salary income. However, digital banks can overcome that hurdle by drawing on a broader set of behavioral and transaction data via their affiliated platforms to assess the creditworthiness of these potential borrowers,” in accordance with the Moody’s report.

For its half, UNO Digital Bank is a full-spectrum credit-led digital financial institution that elevates our prospects by making banking easy, higher, and accessible.  They provide one trusted interface to satisfy anybody’s full monetary wants for all times, with pace and ease. The brand new identify reiterates the digital nature of the financial institution’s enterprise. Along with the identify change comes a brand new visible identification for the model, inclusive of brand, refreshed colour palette, as nicely as icons.

The first colour palette of the UNO Digital Bank brand represents 4 features of monetary wants: Handle Cash (Capri), Develop Cash (French Violet), Leverage Cash (Metal Pink), and Safe Cash (Goldenrod). UNO Digital Bank’s icons symbolize these 4 features of monetary wants.

“We are a credit-led digital bank that is pioneering an elevated approach to banking: one that makes meeting life’s financial needs simple and accessible for the customer, while also fueling growth and innovation in the industry. These are the attributes that we have mirrored in the new brand,” UNObank Chief Govt Officer Manish Bhai mentioned.

“We are not content with functioning on the status quo. Instead, our work is innovation-led and growth-focused, committed to always being numero uno when it comes to meeting needs and adding value to our stakeholders,” he added.

To recall, Manish Bhai can also be the co-founder of the Singapore-based monetary know-how firm UNOAsia Pte. Ltd., one of the first incorporators of  UNObank Inc.

Go to UNO Digital Bank’s web site to study extra about what they provide.




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