Union Bank of the Philippines (UnionBank) was named PLATINUM winner for UnionBank GlobalLinker and HONORABLE MENTION for MSME Business Banking of Product Innovation of the Year at the recently concluded 2021 Global SME Finance Forum Awards.
Organized by IFC, a member of the World Bank Group, and the SME Finance Forum and endorsed by the G20’s Global Partnership for Financial Inclusion (GPFI), the Global SME Finance Awards celebrate the outstanding achievements of financial institutions and fintech companies in delivering exceptional products and services to their SME clients.
UnionBank GlobalLinker (UBGL) was recognized with a Platinum award for the unique opportunities it creates for the SMEs. UBGL was able to help promote locally made goods and showcase the craftsmanship of Filipinos from different provinces. In addition to this, the monthly webinars and digital conventions also inspired and motivated many businesses to keep going and to bounce back from the pandemic.
MSME Business Banking was recognized with an Honorable Mention for its all-in-one fully featured mobile application that allows MSMEs to transfer funds, deposit checks, pay bills, and request payments from customers through various channels such as Instapay, GrabPay, GCash and more. The goal of UnionBank is to uplift the lives of MSMEs therefore this digital solution was created to address the financial needs and at the same time, support them in growing their businesses further.
Launched in 2018 and now in its fourth year, the Global SME Finance Awards were set up to recognize the commitments and distinguished achievements of financial institutions and fintech companies in delivering outstanding products and services to their SME clients and helping them grow. As governments around the world wrestle to contain the spread of COVID-19 and its unparalleled impact on national economies and people’s lives, the entrants for this year’s competition embody the creative resilience and responsiveness of financiers and FinTechs from across the globe to serve the SME sector.
The Global SME Finance Awards recognize institutions that have successfully launched an innovative product or service for SME clients, that have achieved impressive results in expanding finance to SMEs, that have shown specific prowess in serving women-owned SMEs and are innovators in responsible financial services.
Matthew Gamser, CEO of the SME Finance Forum said: “Every year we see more and more impressive institutions doing incredible things to help improve SMEs’ access to finance. We see great innovations, we see new opportunities for redressing past imbalances due to gender, age and other inequities, and we see new ways to put the customer first and ensure that financing is responsible and truly beneficial. The 2021 competition brings us more of the same – bigger innovations, bigger achievements, and bigger potential.”
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