Mandaluyong, Philippines – As part of the Powered Up campaign, UnionBank has recently unveiled ‘UB Negosyante’, an innovative solution for micro, small, and medium enterprises (MSMEs) in the country.
Through this initiative, the banking firm intends to support MSMEs in elevating their business and entrepreneurial journeys, regardless of whether they are business owners, sole proprietors, or microentrepeneurs.
In particular, part of this campaign builds on the benefits of the bank’s business banking application, which has now levelled up to provide more comprehensive insights about business and enhanced tools to further their use.
‘UB Negosyante’ features a more accessible tool kit allowing SMEs to transfer cash, pay bills, collect payments, and deposit checks on the go. This revitalized version of the app now includes Bizstarter, a basic checking account that requires a sustaining balance of only Php 5,000 pesos.
Meanwhile, the rebranding of the application’s name was derived from the sentiments of business owners and bank’s existing MSME clients.The survey uncovered a strong preference for simplicity and relatability which the company used to spice up the name of the app.
Dino Velasco, institutional segment marketing head at UnionBank explained the goal of the rebranded name, stating, “Compared to MSME Business Banking, the new UB Negosyante brand is more relatable, easy to understand, and more inclusive. That was the intent behind the rebranding.”
On the other hand, Jaypee Soliman, business banking head at UnionBank, affirmed their support to advancing the business landscape in the country and said “SMEs face so many challenges due to various pain points which can be discouraging to them. We wanted to address those pain points, so we put together a single user experience through the UB Negosyante app that will address those pain points, may they be related to collection, reconciliation,disbursement, just to name a few.”
The launching commenced with a gathering of MSME clients and prospects on November 8 at the podium hall in Mandaluyong.
