Philippines-based neobank Uno boosts AI services with Xebia deal
DigiBankAsia has partnered with consultancy firm Xebia to underpin the launch of its new challenger bank Uno.
The new lender calls itself a “full service digital bank”. A pilot phase is planned in the Philippines before an expansion across the region.
Uno plans to stand out through a ranged of AI-based features, including facial recognition, voice identity, and tailored credit options.
It promises the ability to start an account in minutes, virtual and physical cards, and tailor-made credit options.
Uno is aiming to address the underbanked in the Philippines, where approximately 70% of the population doesn’t hold a bank account.
“There are a number of unmet needs in the Philippines,” says Manish Bhai, CEO and co-founder.
“The Philippines has very high mobile penetration, with 60% owning a smartphone, and 67% of the population use the internet. The market is ripe for innovation and disruption.”
Bhai says that Filipino customers are “absolutely ready” for a “full service digital bank” like Uno.
Uno says it features “infinite scale” and is a “fully composable bank” that can add and remove services “like Lego blocks”.
The bank is built using a combination of technology from Mambu, Backbase, and Amazon Web Services.
“We have found a hi-tech engineering partner in Xebia whose approach aligns well with UnoBank,” says Manish Bhai, CEO and co-founder of the challenger.
Rajat Gupta, chief digital officer at Xebia, says Uno’s vision is both “pioneering and inspiring”. He adds that an AI-first approach to building a bank leads to “micro personalised experiences” for “true customer delight”.