MANILA, Philippines — UBX, the leading open finance platform in the Philippines, is poised to support the government’s implementation of the integrated financial management information system (IFMIS) initiative which aims to enhance government transactions, improve transparency, and reduce corruption.

In a statement, UBX said it is committed to providing the necessary digital support for the successful implementation of IFMIS, as called for by President Ferdinand “Bongbong” Marcos Jr.

IFMIS will automate and unify disjointed government processes, ensuring accountability, compliance, and efficient financial management.

It will also enhance citizens’ access to information and encourage their participation in fiscal governance.

Executive Order No 29, signed by President Marcos on June 1, states that the IFMIS is envisioned to improve “bureaucratic efficiency by capitalizing on digitalization initiatives to ensure swift and efficient delivery of services to the public.”

UBX, backed by a skilled team, has already assisted the government in its digitalization efforts, including the transformation of local governments in Oriental Mindoro.

“We at UBX fully support the adoption of the IFMIS to streamline government transactions, especially in local government units (LGUs). UBX is ready to partner with the government in implementing digital transformation initiatives to fast-track the implementation of this goal and scale it up as necessary,” UBX Global chief technological officer Mario Domingo said.

The company’s expertise and initiatives like Digital Transformation ng Pilipinas (DigiPinas) position it as an ideal partner in achieving the government’s IFMIS goals.

“Our strategy in promoting greater inclusion has always been to transform legacy systems to digital systems. We believe that we are best positioned to provide the government the necessary support in implementing the IFMIS, especially at the LGU level,” DigiPinas Spokesperson Mikan Leachon, said.

About UBX

Originally the financial technology venture studio and fund of UnionBank of the Philippines, UBX is now the Philippines’ leading Open Finance platform. UBX is predicated on a future where financial services are invisible: seamlessly embedded into the experiences and activities that truly matter to businesses and people. For partnerships, email UBX at hello@ubx.ph.