City of Ontario, CA October 29, 2018 – On November 2, 2018, Oscar Garcia, CEO of Uulala, will be given the Latin Business Association’s (LBA) prestigious Sol Business Award at their 42nd annual awards gala. According to Ruben Guerra, Chairman of the Board & CEO of LBA, this award is selectively given to companies that use technology to support minority-owned businesses and the communities they serve. In the case of Uulala, “We believe the use of Uulala’s technology is a shining example of a mission-based company that will not only help Latino-owned businesses generate incremental revenue but also empowers Latino customers with the ability to build credit and control their finances across borders.”
Through the innovative technology of the Uulala platform, users can build a global credit score in addition to sending payments peer to peer internationally, pay their bills, shop online and obtain microcredit offers. All transactions are recorded on the blockchain as an immutable record thereby giving the users the ability to build their credit history wherever they go. Uulala’s credit score can be leveraged by traditional financial institutions as a more definitive factor of creditworthiness by using daily financial activities to build the profile. For the Latino small business owner, to date, Uulala has agreements with more than 100 companies to give their unbanked customers access to technology to improve their finances.