UBX provides innovative solutions to support consumer growth
Studies show that among its Southeast Asian peers, the Philippines has experienced a sharp increase in e-commerce adoption. Shopping app utilization has increased by 53% as well as overall online spending which increased by 57%. Food delivery and video streaming services have also seen an unprecedented increase. “Demand is growing in a different way. Because of this, consumers are demanding a shift of experience when it comes to some key areas in business,” said John Januszczak, UBX President & CEO, in the 27th PRSP National Congress. Recognized by UK-based Global Brands Magazine as the Fastest Growing Fintech Company in South East Asia, UBX, the fintech spinoff and venture studio of UnionBank, is predicated on the belief that in the future, banking and financial services will be invisible. “We believe that in making banking services invisible, we will provide access and opportunity to all. One of the things we are doing is embedding banking and financial services into activities that actually matter to the individual and businesses,” added Januszczak. In addition to this, he also highlighted the importance of using different channels and relevant content to reach out to consumers. Different channels should drive awareness and lead generation. It should also engage and support existing customers. He also pointed out that the market nowadays also looks at how relevant the brands’ content are. They look at what the brands do to educate people on the pandemic and have extended help to the community. “We move to a new normal. We embrace it. It is not a case of consumers consuming less. If anything, demand will increase. Growth will increase. It’s just that things will be consumed and demand will show up in a different way. And I think messaging around innovation and solutions that support that growth and increasing demand will be the messaging that matters and resonates in the future,” shared Januszczak. Nowadays, there is a demand for better flexibility in terms of payment which is responsive to the changing behavior of consumers. This is why UBX provides digitally-enabled ways to pay for products and services. Changes in consumer behavior also means a new demand for a seamless digital experience.
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