UnionBank launches 'UB Negosyante' to empower MSMEs

SME Banking
12/11/2023 News

Union Bank of the Philippines (UnionBank) is reinforcing its commitment to Micro, Small, and Medium Enterprises (MSMEs) with the launch of UB Negosyante, its "Powered UP" solution. UB Negosyante is the new brand for UnionBank's MSME business banking, designed to enhance the banking experience for MSMEs.

Digital Reinvention
25/10/2023 Article

Transforming UnionBank: A journey in five phases

UB Negosyante builds upon the features of the original MSME Business Banking app, offering enhanced tools to help entrepreneurs grow their businesses. During the launch event, UnionBank showcased successful MSME clients and hosted a program featuring Marketing Entrepreneurship Mentor Josiah Go, along with seasoned entrepreneurs Jorge Wieneke and Nene Tamayo-Plamio.

The rebranding to "UB Negosyante" was the result of surveys and collaborations with business owners and existing MSME clients. The name was chosen for its simplicity and relatability, based on strong support from the survey findings.

UB Negosyante aims to provide a unified user experience that addresses common pain points faced by SMEs, such as collection, reconciliation, and disbursement. To support the new solution, UnionBank launched the "Powered UP" campaign, which promotes the features of UB Negosyante and offers valuable tips and best practices to aid entrepreneurs on their journey.

Key features of UB Negosyante include an improved mobile app for fund transfers, bill payments, and check deposits, along with BizStarter, a basic checking account requiring a low minimum balance. Additionally, QRPH/UPAY for MSMEs simplifies payment collection through QR codes and links, offering various payment channels.

The app also facilitates loan applications with options such as a multi-purpose credit line, an MD line for medical practitioners, and a Dealer Financing Line for supply chain companies. UnionBank GlobalLinker, part of the UB Negosyante suite, offers an online platform for MSMEs to set up online stores, connect with other SMEs, access exclusive benefits, and learn from experts.

These solutions reflect UnionBank's commitment to supporting MSMEs in the digital economy and its efforts to help Filipino entrepreneurs digitize their businesses as part of the Tech-Up Pilipinas advocacy, contributing to nation-building.

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