January 16, 2020
• The partnership will deliver Agency Banking and Mobile ATM models via digital means.
• Fexco’s Springpoint platform will provide the technology to enable the services across rural banks and financial cooperatives across the Philippines.
• Targeting roll out to up to 200 rural banks and 20,000 financial cooperatives.
MANILA, January 16, 2020 – Leading Irish Financial Services Group, Fexco, has announced a new partnership with UBX, a fintech subsidiary of Union Bank of the Philippines to provide Agency Banking and Mobile ATM services to rural banks and financial cooperatives via the state-of-the-art Fexco Springpoint platform.
The new services will benefit both financial institutions and consumers by bringing key financial services, most notably Cash Out, Cash In, Balance Inquiry, Loans, Bill Payments and Account Opening to all areas of the Philippines including some areas significantly underserved in the market today.
Fexco currently employs more than 2,400 people across the globe, focused on delivering technology enabled financial services to a wide range of banking and Fintech partners and this new partnership with UBX will build on the experience of those long-standing relationships.
UBX’s position as a leading Fintech organisation in the Philippines ideally positions it to leverage technologies that Fexco has been developing for the local market over the past 2 years.
Since launching its current technology platform in 2017, Fexco Philippines has processed more than Php3.5bn in transactions.
Commenting on the partnership, UBX President and CEO John Januszczak said:
“What we like about Fexco is that as a multinational company, we know their solutions are world-class, and I love this idea of working together to bring technology that’s used in the largest banks to the very smallest banks.”
“When you create a platform that allows universal banking to be made available to the very smallest financial institutions in the remotest parts of the Philippines, you can’t help but have a very material and positive impact on inclusive prosperity.”
Echoing Januszczak’s sentiment, Cathal Brendan Foley, CEO of Fexco Philippines, said:
“We are very pleased to be partnering with a Fintech organisation of the scale and stature of UBX. This partnership will allow us to rapidly expand our ability to deliver crucial financial services to consumers across the UBX banking partner network. Fexco and UBX are both dedicated to enhancing financial inclusion for both the businesses and people of the Philippines.”
“We look forward to working with UBX and I believe this is the beginning of a long-term strategic partnership.”
Photo: Signing the agreement are (from middle, left to right) John Januszczak, UBX Philippines President and CEO, and Cathal Brendan Foley, Fexco Philippines CEO. Also present to witness the signing are (standing from left and right sides) Jonathan Engalla, UBX Philippines Head of Sales, and Amiel Asalan, Fexco Philippines Head of Operations.
Recognised as an established fintech player, Fexco employs over 2,400 people across its suite of companies headquartered in Killorglin, Co. Kerry located in the South West of Ireland. Founded in
1981, Fexco now has operations in 29 countries across Europe, the Middle East, Asia-Pacific, North
America and Latin America.
Fexco serves some of the world’s biggest brands across multiple industries, predominantly in the payments and FX sectors, through a wide range of innovative products and services including;
Dynamic Currency Conversion (DCC), Multi Currency Pricing (MCP), Tax Free Shopping and Retail FX.
Fexco also offers bespoke Managed Business Solutions and Outsourcing services as well as a full suite of payment management solutions through its Corporate Payments business.
Since inception, Fexco has been driven by an entrepreneurial and innovative spirit. This ethos has brought the company to new regions and industries of growth, connecting customers with exciting new opportunities. Through its commitment to partnership and innovation, the company has built an international network of customers. To find out more visit www.fexco.com
For more information, contact:
• FEXCO CONTACT: Rob Neale, Innovation Product Manager, Fexco Centre, Iveragh Road, Killorglin, Co Kerry, Ireland. [email protected]
• UBX CONTACT: J Noel G Santiago, i2i Business Owner. 33F UnionBank Plaza Bldg, Meralco Avenue, Ortigas Center, Pasig City. [email protected]