Urbit Group Wins 2021 ITU Digital World SME Awards for Their Innovative Digital Finance Solution

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Urbit Group Wins 2021 ITU Digital World SME Awards for Their Innovative Digital Finance Solution

December 22
14:36 2021
Urbit Group Wins 2021 ITU Digital World SME Awards for Their Innovative Digital Finance Solution
The ITU Digital World Awards recognize the most promising innovative tech solutions with real-world social impact. Urbit Group won the award in the Digital Finance category for their zero-touch device which can be deployed in any location in the world to enable the connectivity of any wireless platform used for financial inclusion.

San Antonio, TX – Dec 22nd, 2021 – Urbit Group, provider of global wireless connectivity, has officially announced this week their designation as the winner in the ITU Digital World 2021 SME Awards in the Digital Finance category, for their revolutionary new fintech platform which enhances and increases access to the economy for the banked and unbanked.

For any electronic transaction, the common denominator is connectivity, an inherent component in digital transformation. Urbit’s mission is to drive the digitalization of financial services to rural and semi-urban markets. With a simple and unique wireless platform, Urbit aims to bring financial inclusion in places with no telco or electricity infrastructure.

Urbit’s platform enables cash access and electronic transactions anywhere in the world, for nearly every industry and sector. It is truly a game changer for the way companies connect to the cloud and process their transactions. By using LoRa to connect to users, a radius of 10 kilometers can be served for thousands of users and/or Point of Sale devices, making their solution the most cost-effective for purposes of financial inclusion.

Urbit Group designed, patented and manufactured this zero-touch device, which opens up banking inclusion for any existing fintech platform anywhere in the world. It has created opportunities for companies to deploy their solution in remote locations which could only be managed without the use of high speed and secure networks before.

Urbit’s transactional processing solution is unique since no infrastructure is needed to bring a financial inclusion-focused solution to the most remote and isolated regions of the globe with an extremely cost-effective architecture. It provides the lowest possible cost per transaction to users, making financial inclusion possible without costly investments and lengthy infrastructure build up processes. With these technical complexities removed, the solution is easy to use, deploy and can be remotely managed.

“SMEs and start-ups are the engines of innovation in information and communication technologies”, said ITU Secretary-General Houlin Zhao. “They are critical to economic growth across the globe.”

The ITU Digital World Awards recognize the most promising innovative tech solutions with real world social impact. As the UN specialized agency for ICTs, ITU understands the critical role of digital technologies in accelerating social and economic development in emerging and developed markets.

Upon accepting this prestigious award, Urbit’s CEO & President Joaquin Patron Jr. was quoted as saying, “We are very happy to have been recognized by the ITU today and placing a spotlight on us as we continue towards achieving our goal of bringing the digital financial world to everyone on the planet. We embarked on a journey to create an innovative, affordable, and easy solution to bridge the divide between underserved communities and digital financial services and we could not have done it without the amazing team we have built with people from around the world; our suppliers building with us a solution worthy of this recognition and our customers who have entrusted us to open the world to them.”

Urbit business model is to partner in various counties with government entities or NGOs to make financial inclusion possible in the most underprivileged of markets.

About Urbit

Urbit Group LLC is a global provider of Internet of Things (IoT) and Fintech Solutions based in San Antonio, Texas. We create innovative technology to empower users thru global reach of data from connected objects, visit their official website at www.urbit.us.

About ITU

ITU is the leading United Nations agency for information and communication technologies (ICTs), driving innovation in ICTs together with 193 Member States and a membership of nearly 800 private sector entities and academic institutions. Established over 150 years ago, ITU is the intergovernmental body responsible for coordinating the shared global use of the radio spectrum, promoting international cooperation in assigning satellite orbits, improving communication infrastructure in the developing world, and establishing the worldwide standards that foster seamless interconnection of a vast range of communications systems, ITU is committed to connecting the world.

More info: www.itu.int.

Media Contact
Company Name: Urbit Group LLC
Contact Person: Erika Patron
Email: Send Email
Phone: +1 210.343.2170
City: San Antonio
State: TX
Country: United States
Website: www.urbit.us

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