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UNITED Overseas Bank launches digital bank for South East Asia customers

Monday 13 August 2018 13:54 CET | News

UNITED Overseas Bank (UOB) has announced the introduction of a digital bank for its base of ‘mobile first’ and ‘mobile only’ customers.

UOB’s Digital Bank will be deployed in its key Southeast Asian markets as the group accelerates and broadens the growth of its regional customer franchise.

At the heart of UOB’s Digital Bank customer engagement approach is its data-centric business model which comprises five stages: Acquire, Transact, Generate data, Insight and Engage (ATGIE).

Through ATGIE, the customer experience starts with the onboarding, which is localised to each market context. As customers interact more frequently, UOB’s Digital Bank will gain a better understanding of their preferences and behaviours. Over time, the deeper insights drawn would enable the Bank to anticipate customers’ needs, to determine how it can best help them and prompt them towards smarter spending and saving habits for them to achieve their financial goals.

UOB’s ATGIE business model is powered by artificial intelligence, machine learning, data analytics, user interface design and smartphone capabilities. These include UOB’s own digital technology as well as solutions provided through its collaboration with fintech partners such as its recent joint venture with Avatec.ai and its investment and partnership wh Personetics.

Through Avatec.ai’s credit assessment capabilities, UOB’s Digital Bank will be able to serve a broader base of Southeast Asian customers, opening up possibilities and driving financial inclusion, including for customers new to credit as well as those who are underserved.

Through UOB’s partnership with Personetics, artificial intelligence-based solutions will be used to help identify patterns and extract insights based on the huge volumes of transaction data.


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Keywords: United Overseas Bank, digital bank, mobile banking, online banking
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Countries: World