Parcel and Postal Technology International
  • News
    • A-E
      • Automation
      • Business Diversification
      • Construction / Development
      • Cross-border
      • Delivery
      • E-commerce
      • Expo
    • F-O
      • Freight
      • IT & Systems
      • Last Mile
      • Lockers / PUDO
      • Logistics
      • Mail
      • Operations
    • P-R
      • Packets
      • Parcels
      • Peak
      • Retail
      • Returns
    • S-Z
      • Sorting Systems
      • Staff / Personnel
      • Sustainability
      • Technology
      • Vehicles / Fleet
  • Features
  • Online Magazines
    • September 2023
    • June 2023
    • March 2023
    • December 2022
    • SHOWCASE 2019
    • Archive Issues
    • Subscribe Free!
  • Opinion
  • Videos
  • Analysis
  • Awards
    • 2023 Awards
    • 2022 Award Winners
    • 2021 Award Winners
    • 2020 Award Winners
    • 2019 Award Winners
    • Previous Winners
  • Supplier Spotlight
  • Events
  • Jobs
    • Browse Jobs
    • Post a Job – It’s FREE!
    • Manage Jobs (Employers)
LinkedIn YouTube Twitter
  • Sign-up for Breaking News Emails
  • Meet the Editors
  • Contact Us
  • Media Pack
Subscribe >
LinkedIn Facebook
Parcel and Postal Technology International
  • News
      • Automation
      • Business Diversification
      • Construction / Development
      • Cross-border
      • Delivery
      • E-commerce
      • Expo
      • Freight
      • IT & Systems
      • Last Mile
      • Lockers / PUDO
      • Logistics
      • Mail
      • Operations
      • Packets
      • Parcels
      • Peak
      • Retail
      • Returns
      • Sorting Systems
      • Staff / Personnel
      • Sustainability
      • Technology
      • Vehicles / Fleet
  • Features
  • Online Magazines
    1. September 2023
    2. June 2023
    3. March 2023
    4. December 2022
    5. SHOWCASE 2019
    6. Archive Issues
    7. Subscribe Free!
    Featured
    August 25, 2023

    In this Issue – September 2023

    Online Magazines By Dan Symonds
    Recent

    In this Issue – September 2023

    August 25, 2023

    In this Issue – June 2023

    July 6, 2023

    In this Issue – March 2023

    March 29, 2023
  • Opinion
  • Videos
  • Analysis
  • Awards
    • 2023 Awards
    • 2022 Award Winners
    • 2021 Award Winners
    • 2020 Award Winners
    • 2019 Award Winners
    • Previous Winners
  • Supplier Spotlight
  • Events
  • Jobs
    • Browse Jobs
    • Post a Job – It’s FREE!
    • Manage Jobs (Employers)
LinkedIn Facebook
Parcel and Postal Technology International
Business Diversification

Philippine Postal Corporation and UBX partner to create community financial centers

mmBy Hazel KingJuly 12, 20224 Mins Read
Share LinkedIn Twitter Facebook Email
Credit: Philippine Postal Corporation

The Philippine Postal Corporation (Post Office) has partnered with UBX, an open finance platform in the Philippines, to launch ‘Kasama Lahat’, a capacity development project which will transform the Post Office into a modern hub that offers financial and data services for everyone in the community.

Postmaster General Norman Fulgencio and UBX president John Januzczak signed the agreement on July 7 that will transform each post office outlet into community financial centers, promoting financial inclusion, especially in remote areas of the country.

“The Post Office Digital Innovation signifies the commitment and support of the Post Office especially under the new administration of President Ferdinand Romualdez Marcos Jr in serving the public who deserve no less than the best postal service by global standards,” said Fulgencio.

Under the partnership, UBX will provide the necessary technical knowledge in digital finance and open finance to hasten the Post Office’s digital transformation journey. Through the Bangko sa Barangay Service of UBX, the Post Office will be able to transform its 1,300 outlets nationwide into financial hubs, offering various types of services such as disbursements, fund transfers, cash withdrawals, loan applications, payments, insurance, and collections, among others.

“This groundbreaking partnership with the Post Office reflects our strong commitment to include everyone into the country’s financial system. With its reach and data, the Post Office has the power to drive financial and social inclusion through its digital transformation initiative,” Januzczak commented.

The partnership will also empower postmen or letter carriers to become cash agents. They will be trained to provide guidance on how to apply for financial products and services, as well as to supervise the provision of these services.

In the long term, Kasama Lahat aims to establish the Post Office as Open Finance Hubs, which can process data transactions as well, such as validation of customer information for loan applications, asset validation, and even collection or debt restructuring services.

Since it was established in 2019, i2i, an open finance and payments platform, has been connecting institutions, including micro, small, and medium enterprises (MSMEs) into the country’s financial ecosystems. Now with thousands of agents and hundreds of financial institutions, it provides fund transfers, bills payments, mobile ATM, insurance and loan services which anyone can access in various banks and merchant locations nationwide.

Millions of Filipinos have been integrated into digital finance through i2i, paving the way forward to the future of open finance. Its Bangko sa Barangay service, which was launched in July of last year, turned branch networks and agent pools to become financial service providers in their communities capable of providing financial and data transactions.

These services, under Kasama Lahat, aim to transform the Post Office by putting customers to the fore through creating and innovating products and services to meet their demands, shifting the agency to a sustainable business culture, reviewing and proposing amendments to the Post Office Charter (RA 7354), and overall contributing to social inclusion in the Philippines.

With this partnership, the Post Office will also be able to establish a product line which will establish its financial independence from the budget provisioned by the government, giving the postal agency a more sustainable business culture. The profit margins will also allow it to continue its vision of modernization.

“Our digital transformation journey, powered by UBX, allows us to diversify our services beyond the Filipino people’s postal needs. With our network of over 1,300 outlets and more than 3,500 postmen, we are in a unique position to provide financial services that promote both financial and social inclusion in the country,” continued Fulgencio.

Data from the Bangko Sentral ng Pilipinas (BSP) shows that 47% of Filipino adults are still unbanked. The government aims to include at least 70% of Filipino adults to the country’s financial system by 2023.

“The challenge for both the public and private sectors to drive financial inclusion is daunting and it requires a strong sense of commitment and partnership to achieve this. Our partnership with the Post Office is just an example of meaningful ways to bring financial services closer to Filipinos,” Januszczak added.

Share. Twitter LinkedIn Facebook Email
Previous ArticleRoyal Mail commits to global science-based standards for emissions reduction targets
Next Article InPost announces next stage of its international expansion

Related Posts

Automation

Nova Post launches open innovation platform NovaTech

August 3, 20232 Mins Read
Business Diversification

InPost Group acquires minority stake in Menzies Distribution for £49m

July 20, 20233 Mins Read
Operations

DHL Supply Chain invests €500m in Latin America

July 19, 20233 Mins Read
Latest News

Unique integration with global post-purchase capabilities

September 8, 2023

Bettermile expands delivery cloud services to the US

September 8, 2023

EXCLUSIVE: Is the complexity of ICS2 hindering cross-border trade in the EU?

September 7, 2023

Receive breaking stories and features in your inbox each week, for free


Enter your email address:


Getting in Touch
  • Contact Us / Advertiser
  • Meet the Editors
  • Download Media Pack
  • Breaking News Emails
Our Social Channels
  • Facebook
  • LinkedIn
Supplier Spotlights
  • Prime Vision B.V.
  • Cookie Policy
  • Privacy Policy
  • Terms & Conditions
  • Notice & Takedown Policy
  • Site FAQs
© 2023 UKi Media & Events a division of UKIP Media & Events Ltd

Type above and press Enter to search. Press Esc to cancel.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.

CookieDurationDescription
cookielawinfo-checkbox-advertisement1 yearSet by the GDPR Cookie Consent plugin, this cookie records the user consent for the cookies in the "Advertisement" category.
cookielawinfo-checkbox-analytics1 yearSet by the GDPR Cookie Consent plugin, this cookie records the user consent for the cookies in the "Analytics" category.
cookielawinfo-checkbox-functional1 yearThe GDPR Cookie Consent plugin sets the cookie to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary1 yearSet by the GDPR Cookie Consent plugin, this cookie records the user consent for the cookies in the "Necessary" category.
cookielawinfo-checkbox-others1 yearSet by the GDPR Cookie Consent plugin, this cookie stores user consent for cookies in the category "Others".
cookielawinfo-checkbox-performance1 yearSet by the GDPR Cookie Consent plugin, this cookie stores the user consent for cookies in the category "Performance".
elementorneverThe website's WordPress theme uses this cookie. It allows the website owner to implement or change the website's content in real-time.
JSESSIONIDsessionNew Relic uses this cookie to store a session identifier so that New Relic can monitor session counts for an application.

Functional

Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.

CookieDurationDescription
__cf_bm30 minutesCloudflare set the cookie to support Cloudflare Bot Management.

Performance

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

Analytics

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.

CookieDurationDescription
CONSENT2 yearsYouTube sets this cookie via embedded YouTube videos and registers anonymous statistical data.
uidsessionThis is a Google UserID cookie that tracks users across various website segments.
vuid1 year 1 month 4 daysVimeo installs this cookie to collect tracking information by setting a unique ID to embed videos on the website.
_ga1 year 1 month 4 daysGoogle Analytics sets this cookie to calculate visitor, session and campaign data and track site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognise unique visitors.
_ga_*1 year 1 month 4 daysGoogle Analytics sets this cookie to store and count page views.

Advertisement

Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.

CookieDurationDescription
OAGEOsessionOpenX sets this cookie to avoid the repeated display of the same ad.
OAID1 yearCookie set to record whether the user has opted out of the collection of information by the AdsWizz Service Cookies.
VISITOR_INFO1_LIVE5 months 27 daysYouTube sets this cookie to measure bandwidth, determining whether the user gets the new or old player interface.
YSCsessionYoutube sets this cookie to track the views of embedded videos on Youtube pages.
yt-remote-connected-devicesneverYouTube sets this cookie to store the user's video preferences using embedded YouTube videos.
yt-remote-device-idneverYouTube sets this cookie to store the user's video preferences using embedded YouTube videos.
yt.innertube::nextIdneverYouTube sets this cookie to register a unique ID to store data on what videos from YouTube the user has seen.
yt.innertube::requestsneverYouTube sets this cookie to register a unique ID to store data on what videos from YouTube the user has seen.

Others

Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.

CookieDurationDescription
VISITOR_PRIVACY_METADATA5 months 27 daysDescription is currently not available.

SAVE & ACCEPT
Powered by