As part of its commitment to innovate the country’s business ecosystem, Union Bank of the Philippines (UnionBank) has developed its own integrated blockchain-enabled Supply Chain Financing Platform. It will allow businesses, including MSMEs, to operate confidently, irrespective of the economic landscape. Using the newly-developed platform, MSMEs and other local businesses can ensure easy cash flow management, real-time processing of loans and payments, and clear visibility of payables and receivables in real time. Furthermore, the new supply chain financing platform makes it easier for MSMEs operating in these business ecosystems to acquire financing by resorting to a community-based approach, which removes stringent documentation.
