The Singapore lender launched an online platform to connect small and medium-sized businesses and startups in the ASEAN region with tech providers.
Building on the success of «FinLab» – an accelerator program that attracted more than 2,000 businesses in Singapore, Malaysian and Thailand in the five years since its launch – UOB launched «The FinLab Online» to boost accessibility.
Asean SMEs and startups will have free membership to FinLab’s «business transformation programs» – content which includes self-assessment of tech needs using proprietary tools, videos and webinars, according to a statement.
Tech Matchmaker
UOB’s platform will also help businesses connect with relevant digital and technology solution providers alongside access to resources provided by partners such as the government-owned Malaysia Digital Economy Corporation.
«Digital adoption is not a one-size-fits-all approach, and there is a clear demand for tailored, actionable support for SMEs and startups to take charge of their business growth journey,» said Pauline Sim, co-head of FinLab, underlining UOB’s nearly 85-year experience in Southeast Asia.
More than 440 SMEs and startups across the region registered to join «The FinLab Online» in April and May.
Digital Pursuit
The initiative is yet another example of banks seeking to add value to businesses in Asia through digital means.
While UOB’s latest initiative may take a more nuanced case-by-case approach to understand businesses, others have grouped together segments that may have common broad-based needs. In the case of rival Singapore lender DBS, it rolled out a plug-and-play solution for its existing F&B to offer online order and food delivery to end-clients earlier this year.
