SBI Holdings Inc., a Tokyo-based financial services conglomerate, has acquired a minority stake in UBX, a proponent of digital transformation in the Philippines. This partnership will enable both companies to collaborate on developing digital solutions tailored to the needs of enterprises.

UBX plans to utilize the investment to expand its reach and enhance its financial and digital transformation offerings in response to the growing demand for digital services in the country.

“We see immense potential in the Philippine market, one of the fastest growing economies in the region. Our investment in UBX reflects our belief and confidence in UnionBank’s innovative approach to digital transformation,” SBI Holdings President Yoshitaka Kitao said.

“The investment of SBI Holdings in UBX will allow us to combine our local expertise and digital transformation capabilities with SBI's vast experience in digital finance to develop more impactful and scalable solutions for the Philippine market,” UBX President & CEO John Januszczak said.

The collaboration will also facilitate the exchange of knowledge and expertise between UBX and SBI Holdings, strengthening UBX’s role in digital transformation while creating new opportunities for SBI Holdings in the Philippine market.

UBX provides digital transformation services and embedded financial services for businesses, financial institutions, and government entities. It is a majority-owned subsidiary of UnionBank, a leader in digital innovation in the Philippines.

“The SBI partnership will drive new and exciting financial technology innovation for inclusivity and nation building,” Global Chief Technology Officer Mario Domingo added.