PETALING JAYA: UOB Malaysia today launched the UOB SME app, an all-in-one digital banking platform to meet the financial needs and other business requirements of small- and medium-sized enterprises (SME).
The UOB SME app provides a suite of solutions that addresses financing and other business needs, both on desktops and mobile devices.
The launch of UOB SME app is part of UOB’s continual efforts to help businesses transform digitally. The bank launched UOB Infinity earlier this year in Malaysia 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.
Through the platform, SME will be able to view their cashflow data with an interactive dashboard, perform banking transactions, apply for loans, set personalised foreign currency watchlists with instant alerts, access customised insights, as well as find events relevant to their industries. Based on the customers’ cash-flow data, the platform will also generate curated solutions such as loan financing options and tips on how SME can improve their business or make business decisions more efficiently based on their banking patterns.
With the app, SMEs will be able to access digital solutions beyond banking, such as accounting and invoicing, human resources and e-commerce to help automate and streamline their processes to increase productivity and efficiency.
UOB Malaysia CEO Ng Wei Wei said the UOB SME app is designed to enhance the digital banking experience for SME customers by combining banking solutions, analytics, and business insights into a single platform.
“It provides SMEs with a real-time view and the convenience of managing their financials on-the-go. SME can now stay on top of their businesses and have better financial control, while driving their growth strategies.”
UOB Malayia managing director and country head of wholesale banking Andy Cheah said: “Noting Malaysian SMEs’ appetite for regional expansion, we have developed a foreign exchange feature in the app to support their cross-border ambitions.
“The personalised currency watchlist and the alerts are useful tool to help SME manage their foreign currency risks, especially given the volatile currency environment. SME looking to connect their business to opportunities in Asean can also tap on the bank’s 10 foreign direct investment centres located across Asia including Malaysia, for advisory services.”
