UNO Digital Bank copped back-to-back wins by bagging the Open Banking Initiative of the Year at the Asia Banking and Finance (ABF) Awards while UNO Bank President and CEO Manish Bhai was awarded as the “Digital Banker of the Year in Asia Pacific” at the World Digital Bank Awards 2023. ABF awarded UNO Digital Bank for its innovative strides in open banking and commitment towards financial inclusion, as the company continues to provide customers with simpler, better, and more accessible banking.
The Asia Banking and Finance Awards
UNO Digital Bank was awarded Open Banking Initiative of the Year due to the success of its partnership with one of the country’s leading mobile wallet platforms, GCash, enriching the lives of its 81 million registered Filipino users. This collaboration allowed customers to open UNO Digital Bank’s high-rate interest-earning savings and time deposit accounts through the GCash App.
One key achievement of the project was the simplification of the electronic Know-Your-Customer (eKYC) process, allowing verified GCash users to open an UNO account in minutes and easily access UNO’s products and services. UNO Digital Bank in GSave was initially launched for Closed User Group testing in December 2022 and was seamlessly transitioned to its public launch on March 8, 2023.
This partnership also brings innovation and competition to the financial services landscape and is a showcase to the true benefits of open banking. Together, they aim to make financial services accessible to all and meet the evolving needs of customers in the Philippines.
The World Digital Bank Awards
With the award of ‘Digital Banker of the Year’ in Asia Pacific, Bhai was recognized for successfully championing UNO Digital Bank’s ground-breaking initiatives allowing it to operate and launch within months of securing a digital banking license from the Bangko Sentral ng Pilipinas (BSP). In recognition of his achievements in the criteria of Leadership Capability, Organizational Strength, and Digital Strategy, Bhai said in his acceptance speech, “This award is a testament to the relentless innovation and dedication from an exceptional team. Backing me all through and implementing the support from all of us,” said Bhai. “Moving forward, we continue to lead in innovations that will continue to shape the future of digital banking.”
UNO Digital Bank, which currently has over 550,000 users’, recognition at these prestigious awards showcases its commitment to advancing financial inclusion and innovation in the digital banking landscape of the Philippines. As the digital banking sector continues to evolve, UNO Digital Bank continues to champion unbanked Filipinos with its customer-centric solutions and services.
