UOB develops an All-in-one App for SME Digital Banking Solutions
UOB Malaysia has developed an all-in-one digital banking app specifically designed for small- and medium-sized enterprises. This app, known as the UOB SME app, combines various banking solutions, analytics, and business insights into a single platform, enhancing SMEs’ digital banking experience.
It offers banking and transactional capabilities through UOB Infinity, allowing SMEs to manage domestic and cross-border banking activities. Additionally, the app provides data-driven insights, direct partner integration, foreign currency transaction features, and a comprehensive SME Hub.
UOB banking solutions
Since its launch in October 2022, the UOB SME app has seen remarkable adoption rates, with 42% of its Business Banking customers embracing the platform. Approximately 20% of those who have adopted UOB SME now use the app as their primary channel for transactions.
With the UOB SME app facilitating on-the-go transactions, SME banking transactions have surged by 15.2% from January to May 2023 compared to the previous year. Furthermore, the SME Hub, which offers curated articles, networking opportunities, and promotion highlights, continues to be a valuable platform, receiving an average of about 300 views monthly.