Tag: UOB

Singapore – United Overseas Bank (UOB) has collaborated with Disney Cruise Line to reward its cardholders booking on the ‘Disney Adventure’ cruise.

UOB cardholders in Singapore, Malaysia, Indonesia, Thailand, and Vietnam can enjoy benefits when they book cruise vacations starting Dec. 10.

The three-year partnership’s benefits also extend to cardholders booking on UOB’s travel partners UOB Travel Planners, Klook, Traveloka, and Trip.com. Benefits vary among travel partners.

As part of the partnership, UOB has launched the ‘Let the Magic Begin’ campaign through activities.

Customers can get a chance to win a 3-night voyage on the Disney Adventure when using their cards to spend, deposit on their accounts, or make transactions using the UOB TMRW app.

UOB is also rewarding character plushies to the first 1,000 cardholders who exceed $2000 in spending in a period of 10 days.

Additionally, customers can collect stamp cards inspired by the seven areas inside the Disney Adventure cruise line. UOB will reward limited-edition Disney Cruise Line-themed items to those who finish the stamp collection from Dec. 1 to Jan. 12, 2025.

Meanwhile, UOB cardholders can also earn rewards when visiting and purchasing at Jewel Changi Airport’s ‘The Gift of Disney Cruise Line at Jewel’ holiday event.

“UOB is thrilled to team up with Disney Cruise Line on our quest to provide cardholders with unique privileges for their Disney Adventure cruise vacations in this first-of-its-kind collaboration in the region. This fits hand in glove with the slate of artists we have assembled thus far, including the biggest names in Western entertainment, the K-pop scene and Mandopop royalty, the most dramatic theatre productions and hottest music festivals,” Jacquelyn Tan, head of group personal financial services at UOB, said.

“This is testament to our promise of offering marvellous privileges and access to aspiring ASEAN consumers, to fulfill their myriad lifestyle preferences, and underpinning our strategy to drive growth in our customer base closer towards our 10 million ambition in three years,” Tan added.

“As Disney Cruise Line brings its magical cruise vacations to Asia for the first time in December 2025, we look forward to welcoming travellers in the region to experience beloved stories and characters from Disney, Pixar and Marvel brought to life,” Sarah Fox, vice president and regional general manager for Southeast Asia at Disney Cruise Line, commented.

“Through this collaboration with UOB, consumers will have even more options to plan and book their Disney Adventure cruise vacations seamlessly. We can’t wait for guests to create exceptional memories with their family and friends onboard the Disney Adventure,” Fox said. 

Jakarta, Indonesia – UOB Indonesia and Telkomsel have launched a co-branded credit card to support the growing needs of customers’ digital and aspirational lifestyles. By combining the strengths of both companies’ brands and services, the UOB Telkomsel Card enables customers to enjoy a more connected digital lifestyle with a seamless and rewarding experience, embodying the essence of ‘Lifestyle Connected.’

The UOB Telkomsel Credit Card is tailored to complement the modern, connected lifestyle of today’s customers through a range of special benefits, from triple UOB Points for every IDR2,000 spent on Telkomsel Halo Bill Payment and Cinema XXI; as well as retail transactions in Dining, Fashion, Dept. Store, Foreign Transactions merchant categories. 

Additional exclusive benefits include Bonus Telkomsel RoaMAX Package covering ASEAN, ASIA, Australia, America, and Europe, along with Buy 1 Get 2 Cinema XXI tickets every Saturday. The card also provides additional travel inconvenience and overseas medical protection. Moreover, cardholders can take advantage of exclusive promotions with major e-commerce and online merchants, such as GrabFood, Tokopedia and Traveloka. 

To celebrate the launch, new cardholders can enjoy Welcome Bonus of up to IDR2.2 million, including special price on new Telkomsel Halo+ bold package starting from IDR1.

Cristina Teh Tan, consumer banking director at UOB Indonesia, said, “Customer centricity is at the core of what we do. With our strategic partnership with Telkomsel, the largest telecommunication provider in Indonesia, we look forward to provide customer experience and offer a diverse range of offerings to cater to today’s digitally connected urban lifestyles. This underscores our ambition to be the bank of choice for Indonesia’s aspiring individuals.” 

Meanwhile, Derrick Heng, chief marketing officer at Telkomsel, commented, “As the leading digital telecommunications service provider in Indonesia, Telkomsel is committed to delivering innovative and superior connectivity, services, and solutions to its customers.”

He added, “Through the convenience of seamless digital connectivity and hassle-free bill payment and various remarkable lifestyle offerings that support a more connected digital lifestyle with the UOB Telkomsel Credit Card, we hope that this ongoing partnership with UOB Indonesia can continue to provide added value, opening more opportunities for the people to create better today and excellent future.”

It is worth noting that over the years, Indonesia has witnessed significant growth on digital connection, driven by the increased internet penetration, a thriving middle class, and a rising preference for online shopping. The number of internet users reached 185.3 million, with mobile internet usage up by 0.6% from the previous year. Meanwhile, there is a notable lifestyle trend where 11.7%, mainly Gen Y and Gen Z segments, prioritise staying up-to-date with electronic gadgets and spending in entertainment and leisure services (49.4%), leading to modern lifestyles focused on connectivity, comfort, and mobility. In the country’s e-commerce landscape, 59.3% of internet users make purchases online weekly, demonstrating the widespread reach of digital marketplaces nationwide. This increased connectivity has created opportunities for e-commerce platforms to reach a wider customer base. 

Given this trend, the UOB Telkomsel Card offers exclusive benefits such as increased data allowances, cashback on online purchase and rewards for everyday spending, making banking and communication more convenient and rewarding. 

Singapore – Marina Bay Sands, UOB, and the Singapore Tourism Board (STB) signed a Memorandum of Understanding (MoU) to formalise their commitment to raising awareness and increasing visitor numbers in the Marina Bay area. This deal demonstrates the trio’s commitment to turning the area into a major leisure and economic hub, drawing both locals and tourists.

First announced in January, the cooperation featured a number of activities, including the captivating “The Legend of the Dragon Gate – Drone Show by the Bay” drone spectacular and the “Masterpieces.. Made in Singapore” marketing campaign. This expanded cooperation is the result of a remarkable pilot relationship that involved 26 local partners offering over 50 exclusive events for UOB cardholders across several nations. 

The campaign was based on the marketing initiatives of the three companies: UOB’s plan to grant special access to the greatest travel, shop, dine, and entertainment events in ASEAN; STB’s global Made in Singapore brand campaign; and Marina Bay Sands’ Bay Precinct Strategy. 

In the future, the partners hope to present Marina Bay as a dynamic place offering a wide range of experiences. Together, they will develop exciting programming for future holiday seasons and keep bringing top-notch activities and attractions to the precinct. Through the utilisation of the combined abilities of companies surrounding the Bay, their goal is to establish Marina Bay Sands as a top location for holding global events and providing exclusive experiences. 

The MoU signing ceremony, which was attended by Minister Grace Fu, saw representatives from Marina Bay Sands, UOB, and STB reaffirm their commitment. This landmark event, conducted concurrently with STB’s Tourism Industry Conference at Sands Expo and Convention Centre, demonstrated the community’s desire to enhance the Marina Bay precinct.

Speaking about the partnership, Irene Lin, Marina Bay Sands, said, “The Marina Bay precinct was enlivened in the first quarter of the year, with multiple partners coming together to bring greater vibrancy to the area and create a stellar experience for guests. This next partnership recognises that the precinct has limitless potential to compete on the world stage as a leading lifestyle and business destination. Our ongoing efforts to elevate Marina Bay Sands signal our commitment to enhance the Bay, and we look forward to working with our partners to create more compelling experiences over the long term.”

Meanwhile, Jacquelyn Tan, UOB said, “We are excited to extend this unique partnership to make the iconic Marina Bay precinct a must-visit destination for both locals and tourists. This unprecedented partnership is the latest in our array of innovative and pioneering entertainment propositions we have acquired for our eight million customers across ASEAN, who have over the past months enjoyed exclusive ticketing access to concerts and festivals featuring internationally-renowned artists across different genres.” 

She added, “We will further leverage our leadership position in the lifestyle space and our unparalleled footprint across the region, to bring more unforgettable retail, dining, travel and entertainment experiences to the precinct for our local and regional cardholders. We look forward to the next partnership with great anticipation, as the possibilities for the period ahead are truly endless.”

Lastly, Kenneth Lim, STB, said, “We are excited to be embarking on the next Marina Bay precinct partnership with Marina Bay Sands and UOB. Building on the success of the pilot partnership, we look forward to collaborating with the wider Marina Bay precinct partners to curate exciting experiences for both locals and overseas visitors to enjoy. Through this partnership, we aim to inspire exploration of Singapore by promoting unique offerings and programming in the Marina Bay precinct, demonstrating our continued appeal as an attractive and vibrant destination.”

Singapore – The Singapore Tourism Board (STB), Marina Bay Sands, and UOB have spearheaded a first-of-its-kind partnership to enliven the Marina Bay precinct for locals and tourists. This partnership will focus on introducing appealing lifestyle and entertainment programming for the Bay.

These includes the launch of over 50 exclusive experiences across hotels, attractions, retail shops and dining establishments, in partnership with more than 19 precinct stakeholders.

In addition, this builds on the marketing efforts of all three parties – including STB’s Made in Singapore global brand campaign, Marina Bay Sands’ Bay Precinct Strategy, and UOB’s strategy to provide exclusive access to the best travel, shop, dine and entertainment events across ASEAN – to form a compelling tourism narrative for visitors.

Alongside these engaging programming, this partnership will include a marketing campaign “Masterpieces. Made in Singapore,” leveraging STB’s global campaign that highlights how the ordinary is made extraordinary through a rich tapestry of unique and unexpected experiences made possible only in Singapore. 

The campaign communications will go out to key source markets such as Indonesia, Japan, Korea, Malaysia, Thailand and Vietnam, and post-arrival visitors already in Singapore. 

Kenneth Lim, assistant chief executive of marketing group at Singapore Tourism Board, said, “We are delighted to partner with Marina Bay Sands and UOB to collaborate with the wider Marina Bay precinct partners to enhance the vibrancy of the Marina Bay precinct by offering a series of unique experiences for visitors to enjoy. This partnership aims to excite and inspire our visitors to explore more of what Singapore has to offer.”

Meanwhile, Irene Lin, senior vice president and chief marketing officer (resort marketing) at Marina Bay Sands, commented, “The Marina Bay precinct has the potential to be a canvas for cutting-edge lifestyle programming, with its diversity of hotel, attractions, retail and dining partners located in close proximity to our integrated resort. The partnership with STB and UOB allows us to further develop our first-in-class Bay Precinct Strategy, which offers business travellers a richer and varied bleisure experience.”

Lastly, Jacquelyn Tan, UOB’s Head of Group Personal Financial Services, said, “UOB is honoured to be a part of this groundbreaking partnership. As the leader in billings for consumer credit cards in ASEAN, we look forward to offering our cardholders across the region an unforgettable experience at the Marina Bay precinct. Whether it be dining, attractions, retail or entertainment, UOB is proud to showcase Singapore’s finest offerings through this partnership.”

The partnership takes flight in February with a spectacular waterfront drone light show at the Bay, in celebration of Lunar New Year. Titled “The Legend of the Dragon Gate”, the show will present the story of the mythical Dragon King, brought to life through 1,500 drones set against the iconic Singapore skyline. Themes of family reunion and perseverance, as well as symbols of luck and prosperity, will feature prominently in the show.

In addition, to complement the drone extravaganza and further enrich the visitor experience around the Bay, the three partners have curated attractive promotions for UOB cardholders in Indonesia, Malaysia, Singapore, Thailand and Vietnam.

Jakarta, Indonesia – Citi has announced that it has completed the sale of its Indonesian consumer banking business to UOB, effective November 20 this year. The sale includes retail banking, credit card, and unsecured lending businesses, as well as the transfer of employees.

This is the latest completed deal by UOB after it entered into an agreement with Citi January 2022 as part of a broader sale agreement covering consumer banking across Malaysia, Thailand, Vietnam and Indonesia.

Sales in Malaysia and Thailand were completed on November 1, 2022, and the sale in Vietnam was completed on March 1, 2023.

The sale excludes the bank’s institutional businesses, and Citi remains focused on serving institutional clients in Indonesia locally, regionally and globally.

Batara Sianturi, country officer for Indonesia at Citi, said, “Citi is proud to have a long history in Indonesia, and we are intently focused on growing Citi’s institutional businesses in Indonesia, serving clients in the market, regionally and globally through our network to support cross-border needs.”

Meanwhile, Titi Cole, head of legacy franchises at Citi, commented, “Completing our final divestiture of a full consumer franchise in Asia marks a significant milestone in simplifying the firm. This is a testament to the commitment of our employees across these markets and a clear demonstration of Citi’s ability to execute on our strategy. We are sincerely grateful to our former employees in Indonesia and wish them the very best in their careers with UOB.”

Since announcing its intention to exit consumer banking across 14 markets in Asia, Europe, the Middle East and Mexico as part of its strategic refresh, Citi has now closed sales in nine of those markets including Australia, Bahrain, India, Malaysia, the Philippines, Taiwan, Thailand and Vietnam, in addition to Indonesia.

Singapore – Adoption and usage of digital banking and payment channels showed an encouraging trajectory among ASEAN consumers based on the latest study conducted by UOB.

The latest study revealed that 55% of respondents had increased usage of their mobile banking app over the past year, with Internet banking via a web browser coming in second at 35%. This shows that ASEAN consumers are increasingly banking on their mobiles to serve their financial needs. 

The study also shows that ASEAN consumers are now more receptive to technologies like consolidated platforms for their financial data. The consolidated financial data platforms clocked a 20% increase in usage region-wide, with Thailand and Vietnam having the most enthusiastic adopters across the region. 

Another notable piece of data worth pointing out is that bank branches saw a 17% rise in usage region-wide, indicating that consumers still valued face-to-face interaction as a complement to the multitude of digital channels available. More than half of Singaporeans prefer to use digital platforms for simple services such as applying for credit and debit cards but still prefer offline or a combination of channels for complex, high-value transactions. 

In the payments space, ASEAN consumers have shown themselves to be savvy adopters of the latest technologies. E-wallets and QR code-based payments topped regional payment modes, with 56% of respondents using them in the past year. E-commerce payment platforms come in second at 49%, and mobile wallet credit or debit cards come in third at 48%. However, the latter is the payment mode that consumers are most interested in trying out, with 22% expressing a desire to do so in the next year.

In Singapore, physical credit and debit cards topped the preferred payment mode list at 62%, showing that consumers still preferred to pay via bank platforms rather than third-party ones. Mobile wallet credit and debit cards and peer-to-peer payment services both ranked second at 50%.

The latest study also found that a significant majority of ASEAN consumers are open to sharing their financial data with banks and are in favour of their information being used to curate products and services personalised to their needs and wants.

Over 70% of respondents find it comfortable sharing financial data to be consolidated by banks on one platform, with 83% preferring to do so via banking apps versus other app service providers like e-commerce or shopping apps and multi-service apps.

Furthermore, of these respondents, more than 90% expressed a preference for receiving personalised product and service offerings in their banking apps. The strong demand for personalisation is also consistent across all age groups, income levels, and genders surveyed.

Jacquelyn Tan, head of group personal financial services at UOB, said, “We are happy to see that the enthusiasm for the push for digitalisation and receptiveness to the new tech era is not losing steam. As a barometer of regional sentiment towards the economy as well as pertinent areas of interest such as spending and financial behaviour and technology, the findings from UOB ACSS 2023 offer valuable insights for consumers and businesses, to adapt and poise themselves to navigate the current uncertain economic environment.” 

She added, “As a financial institution, the trends and insights highlighted by the study relating to consumers’ key concerns, savings, financial, and digital behaviour and preferences will help us better understand our customers across the region. This allows us to cater to their needs and strengthen our engagement efforts, to support our customers in adapting to the new banking and digital landscape and capturing opportunities in the current economic environment to advance towards their financial ambitions.”

Singapore – UOB has recently launched its UOB SME app, an all-in-one digital banking platform that aims to meet the financial needs and business requirements of small and medium-sized enterprises (SMEs).

The UOB SME app offers SMEs a suite of solutions that address financing and other business needs, both on desktop and via the mobile app. Through the platform, SME customers will also be able to view their cash flow data with an interactive dashboard, apply for loans, and set personalised foreign currency watchlists with instant alerts. Furthermore, users will be able to access customised insights as well as find events relevant to their industries.

UOB SME’s features have been developed based on the insights from the ‘ASEAN SME Transformation Study 2022’ by UOB, Accenture, and Dun & Bradstreet. The study showed that 66 per cent of SMEs are keen to invest more in technology, especially in the areas of digital marketing, customer management, sales, network management and operational processes. With the app, SMEs will be able to access digital solutions, such as accounting and invoicing, human resources and e-commerce, seamlessly. They will be able to automate and streamline their processes to increase productivity and efficiency.

Lawrence Loh, head of group business banking at UOB, said, “The launch of the UOB SME app marks a new self-service digital banking experience for SMEs. Building off customer insights, it is designed to combine banking solutions, analytics, and business insights in a single platform. It will provide SMEs greater convenience, a real-time view, and better financial control. SMEs can now stay on top of their business, and focus on their strategies for growth.”

UOB said the launch of UOB SME is part of its continual efforts to help businesses transform digitally. The Bank launched UOB Infinity in 2020 to help larger corporate clients with their digital banking needs. The UOB SME app shares the same banking and transactional capabilities as UOB Infinity, but also provides features that are tailored to SMEs’ different needs such as the business management solutions and interactive dashboard.

Vietnam – United Overseas Bank (UOB) in Vietnam has elevated Victor Ngo, former head of group compliance at UOB Vietnam, to be its new chief executive officer (CEO). The appointment of Ngo succeeds Harry Loh, who relinquished his position to return to Singapore to lead the Group Non-Financial Risk Management.

In his new role, Ngo will be leading efforts to deepen UOB Vietnam’s digital capabilities, expand its financing offerings, and connect clients to market opportunities in Vietnam and across UOB Group’s regional network.

Ngo is a banking veteran with more than 30 years of experience. He joined UOB in 2004, where he led leadership roles. Since 2015, Ngo has been active in engaging businesses and industry partners in Vietnam. He was instrumental in helping the bank to become the first Singapore bank to establish a foreign-owned subsidiary in Vietnam in 2017.

Wee Ee Cheong, UOB’s deputy chairman and CEO, commented, “Victor has deep market knowledge and a strong affinity with Vietnam. With his extensive experience in the banking industry and within UOB Group, he is well placed to drive our Vietnam franchise to new heights.”

Kuala Lumpur, Malaysia – UOB Malaysia and its innovation accelerator arm The FinLab have recently concluded their ‘Jom Transform Programme’, in which 116 local small and medium-sized enterprises (SMEs) received advisory and assistance in digital transformation. 

The program aimed to help improve productivity and grow their revenue to overcome the challenges brought about by the impact of COVID-19 pandemic.

Now in its second year, the program was conducted virtually on UOB’s virtual platform The FinLab Online amid physical distancing restrictions during the pandemic. The regional digital platform enabled SMEs to access online workshops, video tutorials, and webinars in digital marketing, business operations, and e-commerce.

“Through our engagement sessions last year, we found that SMEs have long considered digitalization essential to reinventing their business models. The COVID-19 pandemic prompted these businesses to accelerate their digital transformation efforts as they had to operate with strict standard operating procedures within physical restrictions,” said Wong Kim Choong, chief executive officer at UOB Malaysia.

He added, “By hosting the ‘Jom Transform Programme’ on The FinLab Online, SMEs could access our resources online easily and conveniently, progressing on their digitalization journey from the safety of their own homes and offices.”

During the implementation of the program, it found out that 60% of the participating SMEs expressed the intent to adopt digital marketing to expand their online brand presence. The remaining participants were focused on incorporating digital solutions to improve their operations and integrating e-commerce to boost their sales. 

Since its launch in 2020, The FinLab Online has enabled businesses across Malaysia, Singapore, and Thailand to access and to receive guidance on their digitalization journey. In Malaysia, the Jom Transform Programme reached more SMEs outside the Klang Valley last year, including companies in Kedah, Penang, Terengganu, Perak, Johor, Sabah and Sarawak.

The Jom Transform Programme will have another run in 2021, where the first cohort will undergo a business transformation curriculum through The FinLab Online starting 18 May 2021. Interested participants may register at The FinLab website. 

Singapore – Singapore’s national confederation of trade unions, National Trades Union Congress LearningHub (NTUC LHUB), has signed a Memorandum of Understanding (MOU) with its initiative NTUC U SME, United Overseas Bank (UOB)’s innovation accelerator The FinLab, and Ngee Ann Polytechnic (NP) to officially launch the SME Digital Reboot program.

The program seeks to help 500 companies nationwide in enhancing their digital capabilities by the end of 2022, to help them stay relevant and competitive in a transformed business landscape.

The MOU sees NTUC U SME to initially leverage their broad network of Small Medium Enterprises (SMEs) and associations to boost outreach efforts. Then, with The FinLab’s expertise in supporting ASEAN SMEs with their business transformation journeys, the organization will provide companies the access to a range of digital resources and tools on The FinLab Online, which was designed to help SMEs to understand their business needs and to determine a sustainable digitalization strategy. 

Furthermore, NTUC LHUB and NP will provide training across five tracks including Digital Communication and Collaboration, Workflow Automation, Process Automation, Data Processes and Visualisation, and Digital Marketing. And lastly, to ensure that the learning can be applied effectively, the program includes on-ground implementation support through workplace learning sessions by NP lecturers, graduates, and students. .

The SME Digital Reboot program applies to companies of all sizes but will mainly focus on SMEs. As companies employ over two-thirds of the nation’s workforce, SMEs can contribute an estimated half of Singapore’s Gross Domestic Product. 

As the pandemic forced businesses to shift to online, many SMEs think of digital transformation as an exclusive measure that only larger companies can afford. Through the SME Digital Reboot, the parties aim to create a mindset shift in SME employers. The program can provide an upskilling for SME employees and help SMEs create sustainable business tools for them to adapt to changes. 

The program can also help synergize the unique strengths of key partners to uplift companies to keep pace with the age of digitalization. This will be done through an end-to-end solution covering needs assessment, curated training programs, and workplace learning sessions.

During a pilot program, 40 companies have benefited from the ‘reboot’, turning digital disruption into digital assistance in their businesses. A key group that benefited from the pilot is the Association of Employment Agencies Singapore (AEAS), which is the only industry association that represents employment agencies in the country. Under the program, AEAS members were offered employment advisory for training, training courses for workers, and the right tools to kickstart their digital transformation.

Chairman of NTUC LHUB, Eugene Wong, said that SMEs are key engines of the economy, yet 40% of SMEs surveyed cited the lack of support and expertise as barriers to digitalization.

“The strategic partnership with The FinLab and Ngee Ann Polytechnic to roll out a structured SME Digital Reboot program will empower organizations to take the first step in their digital transformation strategy by building in-demand skills to navigate towards digital success. NTUC LHUB endeavors to continue expanding our ecosystem of partners to transform workers for a transformed future,” said Wong.

Meanwhile, Yeo Wan Ling, director of NTUC U SME, said that NTUC U SME is committed to providing targeted assistance to their partner SMEs, to help their workers upskill and their company transforms digitally to adapt in the post-COVID-19 world. 

“SMEs are one of the key pillars of Singapore’s economy employing a large portion of Singapore’s workforce. With the added boost from the recent Singapore Budget 2021, I hope to engage more companies and associations like the Employment Agencies (Singapore) to help them innovate and enhance their productivity,” said Yeo.

Janet Young, co-founder and director of The FinLab, further commented, “To do [the program], we are tapping the experience of NTUC LHUB, NTUC U SME, and Ngee Ann Polytechnic together with UOB’s expertise and The FinLab’s suite of digital resources and community of industry experts to provide SMEs the guidance they need to digitize sustainably. Drawing on UOB’s extensive SME network in Singapore and ASEAN, we will continue to broaden our reach to help more companies benefit through the SME Digital Reboot program.”

And finally, Clarence Ti, the principal of Ngee Ann Polytechnic, commented, “To ensure effective implementation of digital solutions, NP has adapted the training pedagogy in the form of use-case playbooks and best practices. NP is also looking forward to offering post-training consultation and guidance to help SMEs roll out their digital solutions smoothly. Being part of the SME digitalization journey not only presents a great opportunity for our staff, students, and alumni to contribute our expertise but also allows us to build up additional use cases to further enhance our training programs in this area.”

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