fofsummit2019
Editorial

UOB awarded Best SME Bank in Singapore and Asia Pacific

By The Asian Banker

UOB offered customised digital solutions to support financing needs of small businesses in the region. Leveraging data sharing to enable credit scoring, the bank provided SMEs with a short-term credit facility to help them overcome barriers to productivity and growth.

• UOB leveraged data-driven strategy and strategic partnerships to cater to the evolving funding needs of SMEs
• The bank launched several digital initiatives to improve client experience
• The bank introduced a mobile version of its internet banking platform

UOB emerged as the Best SME Bank in Singapore and Asia Pacific at The Asian Banker’s International Excellence in Retail Financial Services 2019. The awards ceremony was held in conjunction with The Excellence in Retail Financial Services Convention 2019 at Conrad Dubai, U.A.E on March 21st, 2019.

UOB

In the picture: Members of the International Advisory Council of Excellence in Retail Financial Services Awards Programme; David Gyori, Wilson Chia and Varun Sabhlok with Lawrence Loh, Head of Group Business Banking and team, UOB

Simplifying banking for SMEs, UOB offered customised digital solutions to support financing needs of small businesses in the region. Leveraging data sharing to enable credit scoring, the bank provided SMEs with a short-term credit facility to help them overcome barriers to productivity and growth. The bank also partnered with e-commerce players to grant quick Approval in Principle (AIP) loans to online sellers. Committed to collaboration, it embarked on a joint venture with Temasek, Innoven Capital, a venture debt platform providing financing to high-growth innovative start-ups across India, China and Southeast Asia, supporting over 50 companies to date.

The bank launched several digital initiatives to improve client experience

UOB BizSmart enables SMEs to automate their business processes, including payroll, invoicing and inventory management, with a direct link to their operating accounts providing real-time endto-end overview of operations. Robo Advisory was also introduced in 2018 as the first digital advisory platform for corporate investors providing customised digital investment portfolios. Additionally, the bank’s Smart Business Transformation Programme matches SMEs with curated technology service providers to integrate digital solutions into their business.

The bank introduced a mobile version of its internet banking platform

The mobile version of UOB’s Business Internet Banking platform BIBPlus provides SMEs with convenient access to all their banking and business, by enabling customers to place term deposits, transfer funds and approve transactions on the go. The first-of-its-kind in the region, it even helps SMEs manage currency volatility by offering live updates on foreign exchange rates. Users may also track industry developments through regional news feeds and reports, and receive exclusive partner offers for business essentials.

The International Excellence in Retail Financial Services programme is one of the most rigorous, prestigious and transparent awards programme for consumer financial services in the world. Covering all of the Asia Pacific, the Middle East and West Africa, the programme was instituted in 2001 to recognise the pursuit of excellence amongst retail financial institutions. The programme evaluates more than 300 banks and non-bank retail financial services players in more than 42 countries, via a rigorous audit-based approach. Detailed evaluation criteria for each category may be found at http://awards.asianbankerforums.com/retailfinancial/criteria-country

You may visit the Excellence in Retail Financial Services Awards gallery at https://www.facebook.com/pg/TheAsianBanker/photos/?tab=album&album_id=10157080239284 804

For further information on the collaterals for winning banks, please contact:

Mr. Alfred Labicassi
The Asian Banker
Email: alabicassi@theasianbanker.com

 



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