An AI-first approach to digital banking is what UNO from Singapore-based DigiBankASIA is promising as it works with regulators for the pilot launch in the Philippines. The Singapore fintech has partnered with The Netherlands-headquartered IT consulting and digital technology company Xebia for the launch of what it touts as Asia’s first full-spectrum digital bank, with the brand names UNO and UNObank.

“We have found a high-tech engineering partner in Xebia whose approach aligns well with UNObank’s objective of a highly personalized, AI-first, fully composable, cloud-native, full stack digital bank,” said UNO CEO and Co-Founder Manish Bhai in a press statement.

AI-first approach

Xebia will be UNO’s digital and innovation technology partner in further developing the bank’s Cognito digital-first platform, by integrating with leading banking products to build a differentiated and innovative digital foundation.

“Xebia is proud to partner with the best minds in the world who are reimagining banking and disrupting the market. In the digital era, companies that seek to be the best, acknowledge that even with great products and services, a customer-first approach is what makes them win the game,” said Xebia CEO Anand Sahay.

Cognito weaves in AI at its very core with innovative ways to use advanced machine vision and learning models. With the help of AI, the bank aims to improve the entire banking experience, including customer onboarding, transaction authorizations, alternate data-based credit scoring, and product and interface personalization at an individual level.

“UNO’s AI-first capabilities mean that it is highly adaptable and completely customer-centric — a great example of what a truly composable banking stack should be. Each user will experience the bank as if it were uniquely designed around their needs. That’s the power of an AI-first, all-cloud, fully digital user journey-based orchestrated platform,” said UNO Chief Technology Officer and Co-Founder Puneet Gupta.

“What UNO is envisioning is both pioneering and inspiring and we are excited to be partners in realizing UNO’s vision — by leveraging our design thinking, domain expertise, and an AI-first approach to build industry leading, micro personalized digital banking experiences with rapid innovation cycles for true customer delight,” said Xebia Chief Digital Officer Rajat Gupta.

Last year, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said the Philippines has embraced the digital imperative. In line with this, Diokno said at least 50 percent of the country’s retail payments will already shift to digital by 2023.