UNOAsia partners with HPS for launch in the Philippines
UNObank, South East Asia’s first full-spectrum digital bank, has selected HPS’ PowerCARD solution for its card issuing activities in Asia. This was announced last week in Singapore (December 8, 2021).
HPS is a multinational company and a leading provider of payment solutions and services for issuers, acquirers, card processors, independent sales organisations (ISOs), retailers, mobile network operators (MNOs), and national & regional switches around the world.
This followed the announcement that Singapore headquartered fintech UNOAsia- the Singapore headquartered fintech and one of the primary incorporators of UNObank, has received approval by the Bangko Sentral Ng Pilipinas (BSP) to operate a digital bank in the Philippines.
With the crowded payments market today, established card issuers and new digital banks require flexible, APIs driven and robust solutions that enable them to design unique user’s experiences in a digital ecosystem and scale in a fast, seamless and secure manner. HPS will roll out its PowerCARD solution for UNObank as a service fully integrated in a robust digital technology ecosystem and hosted on Amazon Web Services.
UNObank looks to create a full-spectrum credit-led digital bank in Southeast and South Asia. With the Philippines being its first market to launch, the bank is looking to “bridge the gap” in the country’s financial inclusion story by offering products that allow Filipinos to save, borrow, transact, invest, and protect their finances optimally, and with speed and ease through one trusted interface.
Manish Bhai CEO of UNOAsia said: “We have selected HPS’ PowerCARD solution because of their deep understanding of the challenges new market entrants are facing and their advanced, cloud-based technology. We are confident that HPS will help us achieve our goal of offering the Filipino public one app for all their financial needs, from savings to payments and investing.”
CEO of HPS, Abdeslam Alaoui Smaili commented, “Our mission at HPS has always been to provide our clients with cutting edge payments technology, and to enable them to bring new products to the market with ease and efficiency. For this reason, we are beyond thrilled that PowerCARD has been chosen by UNObank to bridge the financial inclusion gap through one card that gives access to a full spectrum of banking services, and we look forward to being a part of its latest venture into the Filipino market. UNObank’s trust in HPS comforts us on the consistency of our development strategy in South East Asia.”