In collaboration with United Overseas Bank, The Finlab launched its Smart Business Transformation in Thailand to help SMEs transform their businesses through digital solutions.
Thailand is the first market outside of Singapore where The Finlab will offer its SME business transformation programme, Felix Tan, Managing Director of The Finlab, said at a media event on Thursday in Singapore.
The Thai launch follows the success of the Singapore programme in August 2018 where 11 Singapore-based SMEs deepened their digital capabilities by piloting the use of technologies such as artificial intelligence and robotics process automation.
UOB's Innovation Accelerator
The Finlab is a fintech and innovation accelerator under the United Overseas Bank (UOB). Since its inception in 2015, The Finlab has run two acceleration cycles for fintech companies chosen from more than 700 applications from 44 countries. The programme is supported by UOB in Thailand and the Digital Economy Promotion Agency (depa) of Thailand.
To support Thai SMEs drive their business performance, The Finlab’s three-month Smart Business Transformation Programme will help participating SMEs refine their business models and adopt digital solutions particularly those in online sales and marketing.
New Partnerships
«At The Finlab, our mission is to help SMEs across ASEAN validate their solutions and scale their businesses through digitalisation and business transformation. Through our new programme, we aim to push innovation boundaries and to forge new partnerships,» Felix Tan said.
Mentors from The Finlab, UOB (Thai) and depa will also guide participating SMEs to identify the unique issues they face in their business and equip them with the tools and knowledge needed to innovate. The SMEs will then be matched with a suitable technology solution provider to address their concerns and to pilot the implementation of the solution.
Help in Other Countries
«Through our regional network, we will also be able to help these SMEs expand their businesses into other countries,» Mr James Rama Phataminviphas, Head of Channels and Digitalisation at UOB Thailand, added.
The Finlab is now accepting applications from SMEs in Thailand for the Smart Business Transformation Programme until January 2019. It is also calling for global technology companies and start-ups to participate in the programme as solution providers. The Smart Business Transformation Programme will commence in April 2019.
More to follow
