UBX enhances lending platform SeekCap with AI technology

UBX, the leading open finance platform in the Philippines, has partnered with Aboitiz Data Innovation to integrate artificial intelligence (AI) solutions into its lending platform, SeekCap. The partnership aims to promote financial inclusion and sustainability through innovation and technology. The partnership comes amid reports that Philippine MSMEs are underserved, with many not having bank accounts, making scoring them difficult. Using alternative data, the AI-powered alternative credit scoring solution developed in partnership with Union Bank of the Philippines will offer loans to a wide range of individuals and small businesses who may not have qualified under traditional scoring methods. Additionally, the partnership introduces SeekCap PortfolioPro, an AI-powered service that streamlines the process of building a borrower portfolio. This will enable the platform’s lenders to grant loans with greater confidence and finetune their risk appetite. With the partnership, UBX expects to enable more entrepreneurs in the Philippines to access loans, promoting financial inclusion.