Uno Digital Bank has tied up with Singapore-based Proxtera to train 10,000 homegrown MSMEs on financial literacy as part of the SME Financial Empowerment (SFE) program to help integrate them into the banking system and empower them to scale and grow.
UNO Digital Bank has tied up with Singapore-based Proxtera to train 10,000 homegrown micro, small and medium enterprises on financial literacy as part of the SME Financial Empowerment program to help integrate them into the banking system and empower them to scale and grow. Such joint initiative is a step toward educating millions of unbanked Filipinos that traditional financial institutions find hard to reach.
“When you piece all this together, the financial literacy penetration is very low because people haven’t really understood what it means to integrate into organized banking or have a relationship with financial institutions,” said Manish Bhai, chief executive officer of UNO Digital Bank. “We want to promote financial literacy as an entry point to the formal financial sector.”
Those who finish the course will receive a digitally verifiable certificate, gain access to a resource hub with financial services tools and knowledge services, and get a digital bank account and loan facilities. Bhai cited the partnership “will definitely help the business owners out there to make use of multiple financial products that will enable them to grow their business, and be profitable and self-sustaining.”
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