UBX, the leading open finance platform in
the Philippines, is taking a significant leap into the world of Artificial Intelligence
(AI) to reshape the future of finance, employing the leading two AI experts in
the Philippines.
With the addition of Jose Alfonso
"Pancho" Reyna as Director of Engineering, Data and AI and Mario
Domingo as Global Chief Technology Officer (GCTO), UBX is uniquely positioned
to leverage AI and new technologies to accelerate its financial and social
inclusion goals further.
“AI is not merely a tool for UBX; it's the
driving force behind our commitment to advancing financial inclusion through
our AI-powered open finance platform. With the exceptional expertise of Mario
and Pancho, we are poised to accelerate our mission and make a profound impact
on the financial landscape of the Philippines,” UBX President and CEO John
Januszczak said.
With over three decades of experience under
his belt, Domingo is one of the most successful digital transformation
executives in the Asia Pacific Region. Prior to his appointment as the new UBX
Global CTO, Domingo was the Asia Pacific Group CTO of the Chicago Board Options
Exchange, where he built technology businesses and is the founder of DARC Labs,
a cancer and diagnostics research center powered by AI.
Complementing Domingo, Reyna has over 15
years of diverse experience in AI, software
development, technology management, and senior management across various
sectors, including telecoms, banking, big data, and finance.
He was the CEO of Inquiro Inc., Globe Telecom’s data analytics and monetization company. Reyna has led
various teams of engineers and software developers in his past employment with leading companies such as Chi X Global Technology, Rebar Solutions, and Smart
Communications, among others.
"Our goal at UBX is to use AI to
supercharge our open finance platform, making financial services more
accessible and efficient for all Filipinos. AI is the catalyst that will propel UBX's open finance initiatives
into the future, providing cutting-edge solutions that empower underserved
communities,” Domingo said.
AI strategy
In the context of open finance, AI marks a
paradigm shift in modern banking. It extends financial services to areas
traditional banking methods cannot reach by harnessing available data from
alternative sources. AI adapts to diverse customer profiles while ensuring data
security.
UBX's AI strategy revolves around three
core tracks: People, Product, and Protection.
Led by Domingo and Reyna, UBX’s AI-enabled engineers
are experimenting on OpenAI's
generative potential for software engineering, which is then incorporated into
its coding practices.
Currently, UBX is utilizing AI to assess
credit risks for underserved Filipinos through SeekCap, UBX’s online lending
marketplace.
UBX’s AI-enabled security incorporates
machine learning to strengthen the walls of its Fraud Management System, which
was developed earlier this year.
"In a rapidly evolving financial
landscape, innovation driven by AI is our commitment to staying ahead of the
curve and serving our communities better. AI
is the bridge between innovation and financial inclusion, and at UBX, we're
building that bridge every day,” Reyna said.
UBX joins SFF anew
UBX is not only leading the open finance
revolution in the Philippines but is also making waves on the international
stage.
As part of its commitment to pioneering
AI-driven open finance, UBX proudly announces its participation in this
year's Singapore Fintech Festival, slated for November 15 to November 17.
With the festival's central theme revolving
around the transformative power of AI in finance, UBX is poised to showcase its
innovative AI-powered solutions and contribute to the global dialogue on the
future of financial services.
Not just a strategy
With its unique approach to financial and
social inclusion by democratizing access to finance, UBX has cemented its role
as the frontrunner of the open finance revolution in the Philippines with its
pioneering use of AI.
“Innovation through AI is not just a
strategy; it's our commitment to reshaping the financial landscape in the
Philippines. With AI, UBX is pushing the boundaries of what's possible in finance, revolutionizing how we serve the
Filipino businesses and consumers,” Januszczak said.
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