The bank said it would invest up to $500 million in digital innovation initiatives to reach its goal of serving more than 7 million customers in Asean.
With digital banking now the preferred choice among UOB customers, the bank is «doubling down» on its data-driven model to create hyper-personalised digital experiences for its customers.
The bank will be combining «TMRW,» its digital bank that launched in 2019 and is available in Thailand and Indonesia, with its mobile app «Mighty» on to one platform: «UOB TMRW,» the bank said in an announcement on Wednesday.
«By harnessing the best of TMRW and UOB Mighty in one platform, we can tap economies of scale to accelerate innovation especially in the area of hyper-personalised digital banking experiences and speed to market,» Wee Ee Cheong, UOB deputy chairman and CEO, said.
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Upon the successful completion of its beta pilot currently underway among UOB employees, the platform will be launched for all UOB customers in Singapore later this year, the announcement said.
UOB TMRW will be progressively rolled out across its key Asean markets, with the next markets expected to launch in the next 18 months.
«In this next phase, we are making it our goal to explore how technology can enable us to make the digital banking of tomorrow smarter and even more intuitive for our customers,» Kevin Lam, head of TMRW and group digital banking, said.
