Tag: UOB

Singapore – ‘Start Digital’, a digital initiative started by the Infocomm Media Development Authority (IMDA) and Enterprise Singapore for SME support, is refreshing their existing digital solutions in order to provide newly incorporated SMEs or those that have yet to digitize with foundational and easy-to-deploy digital solutions.

Initially launched in January 2019, the Start Digital program has helped more than 30,000 SMEs to adopt various digital transformation strategies for their businesses, known collectively as the ‘Start Digital Pack’. These solutions are offered across six partners, namely financial institutions DBS, Maybank, OCBC, and UOB, as well as telco Singtel and M1.

Start Digital is offering three new and enhanced categories:

  • Digital Collaboration – These enable employees to work from home or any other convenient locations. Examples include Microsoft 365 and Google Workspace.
  • Digital Marketing – Tools that provide SMEs with templates to create social media ads and manage their digital ad buys and placements on a single platform. This allows SMEs to easily manage targeted digital marketing campaigns and reach out to consumers on social media.
  • Digital Transactions – InvoiceNow-linked solutions offered by bank partners are integrated with e-payment including PayNow Corporate to enable SMEs to generate/receive e-invoices through InvoiceNow and receive/make e-payments seamlessly. These solutions help SMEs improve transaction accuracy and administrative productivity. Both e-invoicing and e-payments are part of digital utilities which IMDA is putting in place as baseline infrastructure for the digital economy. Similar to their physical counterparts, digital utilities provide common standards and ease of transactions for businesses. 

Start Digital initially included accounting, human resource management system and payroll, digital marketing, digital transactions and cybersecurity solutions. 

“Based on feedback from SMEs and Start Digital partners, IMDA and Enterprise Singapore are enhancing Start Digital to include new solutions that will enable SMEs to collaborate seamlessly with internal and external parties, and gain new customers,” according to a factsheet released by IMDA and Enterprise Singapore.

Both institutions have been proactive in driving support for SMEs and startups based on digital transformation strategies. Earlier this year, Enterprise Singapore supported the launch of the PlanetSpark Innovation Centre to focus on tech startups seeking to deploy artificial intelligence of things (AIoT) to the market. 

Singapore – As chief executives of their respective firms, CEOs are sure mentioned and displayed a lot on online media, and this year, DBS Bank’s Piyush Gupta emerged as the most visible CEO in local digital media in Singapore, according to a report by market intelligence firm CARMA ASIA. 

Gupta had the largest volume of online articles that mentioned him, amounting to 90 articles from the period of May to October this year. CEOs’ visibility, or frequency of mentions, was studied on both mainstream media – which are local online publications such as The Straits Times, The Business Times, and The New Paper – as well as on social media, particularly Twitter mentions.

Gupta retains the crown, being hailed in the same rank last year. Meanwhile, Singapore Airlines’ Goh Choon Phong received the highest social media engagement with 999 mentions. 

According to the report, Gupta outperformed other CEOs due to his frequent communication around DBS’ efforts to navigate the COVID-19 crisis. 

The report also looked into how ‘favorable’ the visibility of CEOs are on media, and for this strand, Wilmar International’s CEO Kuok Khoon Hong took the reigns.

Favorability was measured via an article’s disposition, such as whether a company appears in the headline, the tone of the sources inside the article, and the sentiment of the journalist and the media outlet. Meanwhile, the mood of Twitter mentions was determined via the tone of the messages as well as the type of emojis and GIFs placed.  

The report said Hong’s favorability in the media emanated from the depiction of Hong as resilient, financially sound, and supportive towards the community by giving away the company’s largest-ever S$7m donation as well as the firm’s acknowledgment that the business had continued to record positive performance in 2020.

Meanwhile, Singapore Airlines’ CEO Goh Choon Phong was commended for being the first to publicly address the news surrounding SIA including staff layoffs and pay cuts, as well as their rapid response to the backlash following new initiatives such as the ‘Flight To Nowhere.’ 

OCBC’s Samuel Tsien, Singtel’s Chua Sock Koong, UOB’s Wee Ee Cheong were also among the most visible CEOs with a total of 60, 40, and 22 articles respectively. These were due to their prompt responses to the COVID-19 crisis, assurance of the companies’ financial positions, and introduction of digital transformation initiatives to ensure their companies are able to weather the COVID storm.

CARMA ASIA’s Managing Director Andrew Nicholls spoke about the importance of CEOs being vocal in a time of crisis.

“In a period that has shaken confidence, the pressure on CEOs to provide guidance and reassurance to shareholders, employees, and customers has intensified.” 

Kuala Lumpur, Malaysia ー United Overseas Bank (UOB) Malaysia has launched Mighty Insights, a mobile banking app based on artificial intelligence (AI)ーa first in the countryーto create simpler banking transactions for customers of the said bank.

Said app features a dashboard for the customer’s monthly expenses based on their credit card spending, app alerts for third-party subscriptions, merchant payments, or insufficient balance. A Quick Response (QR) code payment function has been also added to the app to ensure safer fund transfers or payments. 

The app also features advanced data analytics, machine learning, and pattern recognition algorithms to help customers provide financial guidance in terms of spending, life age, and lifestyle priority variances. 

Driven with the same analytics as UOB’s AI-driven predictive analytics engine and TMRW, a mobile-only bank designed for ASEAN millennials, Mighty Insights is second in the line which launched AI-driven mobile banking.

Ronnie Lim, managing director and country head of personal financial services for UOB Malaysia, expressed that the recent mobile banking app launch is just one of the bank’s strategies to further harness the technological capabilities for banking and finance for customer-centric experience.

“As technology continues to improve the way we manage our finances, we designed Mighty Insights to anticipate our customers’ banking needs and to offer them the most suitable financial solutions to help them save and spend wisely. Each insight is personalised based on the customer’s spending habits and banking behaviour. Driven by AI and machine learning, Mighty Insights enables customers to track their day-to-day spending conveniently and to view easily the categories they have been spending on the most,” Lim stated.

The app is available for download at the Google Play Store, the Apple App Store, or at Huawei AppGallery.