UBX, an open finance subsidiary of Union Bank of the Philippines (UnionBank), has launched UrGovPH, a suite of open finance solutions that will allow local governments to easily create digital services across identity, finance, property and business interaction.
The UrGovPH suite will empower what are known as local government units (LGUs) as well as national agencies to digitize public services and verify businesses and individuals. UBX is wholly owned by the conglomerate Aboitiz Group, which is a significant shareholder of UnionBank (49 percent), alongside the state-owned Social Security System (19 percent) – the social insurance scheme.
