A card for everyone
UOB has more than 15 different credit cards with benefits ranging from travel, cashback, rewards and lifestyle privileges.
2022 in review (Singapore)
Number one issuer for Visa commercial credit cards and Mastercard commercial credit and debit cards;
Number one issuer for Visa personal credit cards;
Number one acquirer for Visa and Mastercard;
One out of two cardholders in Singapore holds a UOB card; and
1.3 million UOB credit cards in use today. Rewards galore
We work together with our wide ecosystem of partners to curate the best deals, cashback and rewards for our customers.
Singapore’s largest deals, cashback and rewards programme, with more than 50,000 deals, cashback and rewards at more than 60,000 merchant locations, served through UOB TMRW;
Deals are recommended based on each customer’s transactions and reward redemption patterns; and
Instant cashback all year round on UOB$ programme with market leader partners including Crystal Jade, Starbucks and more.
Exclusive regional tie-ups and deals:
Partnered established regional names such as Singapore Airlines, The MICHELIN Guide, COMO Group and Shopee, to augment our regional rewards programme;
Offer cross-border discounts, attractive rewards and unique experiences to cardholders in the region;
The Bank’s total billings in the region grew 26 per cent in 2022, and is 19 per cent higher compared with pre-COVID levels in 2019; and
Cross-border billings in 2022 also increased more than 72 per cent year-on-year.
Growing customers’ wealth
Tapping data analytics and technology, we help customers maximise the potential of their savings and accelerate their journey towards their financial aspirations.
Wealth and Privilege Banking
We use technology, such as AI/ML, to identify our affluent customers then engage and upgrade them to our wealth management platforms to better serve them with a wider range of wealth advisory services and solutions. Our advisors are allocated with an optimal number of client portfolios to ensure that each customer is served in a timely manner.
Through understanding customers’ aspirations and leveraging data-driven insights, we provide financial advice centred around their priorities. We help our customers optimise their portfolio through our proprietary Risk-First approach to ensure alignment with clients’ risk profile, life stage and wealth goals. Discussions and decisions are enabled by technology, such as our UOB Portfolio Advisory Tools (PAT) and self-serve digital investing platform SimpleInvest. We have also integrated deposits and investment data from SGFinDex 5 into PAT. Customers in Singapore can monitor, manage and optimise their wealth portfolios with a holistic view during wealth reviews with our advisors.
Singapore Financial Data Exchange (SGFinDex) is a public digital infrastructure which uses a national digital identity and centrally-managed online consent system to enable individuals to access, through applications, their financial information held across different government agencies and financial institutions.
In 2022, we implemented a proprietary analytics model, which considers factors including customers’ personal preferences and traits, such as investment and language preferences, to identify the most suitable relationship manager for each customer.
Through our ‘One Bank’ approach, we also stepped-up efforts to tap our retail and commercial banking strengths across the region to offer solutions to meet our customers’ personal and corporate wealth management needs.
growth year-on-year despite volatile market conditions.
Discretionary Portfolio Management (DPM)
Net New Assets (NNA)
Record net inflows
of NNA was generated from
our ‘One Bank’ ecosystem.
year-on-year increase in NNA from referrals from other business units and regional offices within the Bank.
Includes Privilege Reserve and Private Bank
Walking the green journey with customers
We help our customers cut their carbon footprint through their everyday choices.
Financing a home with the BCA Green Mark Gold and above.
Go Green Home Loans made up almost 10 per cent of total home loan sales in 2022. During the year, we also launched our first Personal Financial Services (PFS) Secured Loans Green Product Framework - Eligibility Guide. The framework leverages insights from Morningstar Sustainalytics, a leading global provider of ESG research, ratings, and data.
Financing the purchase of Electric Vehicles (EVs).
In 2022, we:
collaborated with SP Group to offer new customers three months of free charging (capped at 500kWh) at SP Mobility’s public charging points; and
expanded Go Green Car Loans, which made up 15 per cent of our total car loan sales volume.
During the year, we also launched our first Personal Financial Services (PFS) Secured Loans Green Product Framework - Eligibility Guide. The framework leverages insights from Morningstar Sustainalytics, a leading global provider of ESG research, ratings, and data.
Enjoying cashback and privileges at eco-conscious merchants with ASEAN’s first bio-sourced card – UOB EVOL Card.
In 2022, we were first in Singapore to partner SP Group to offer customers complimentary My Green Credits when they use their UOB EVOL Card to make utilities payment. This enables customers to potentially offset 100 per cent or more of their household electricity carbon emissions.
Investing in sustainable themes and companies.
>$800 million AUM across our regional markets;
Of the customers who bought into ESG funds, 15 per cent are Gen Y
7 and 50 per cent are women; and
UOB was awarded Asia’s Best Wealth Manager for Impact Investing, by
The Asset Triple A Private Capital Awards.
Our PFS Sustainability programme was also recognised by The Institute of Banking and Finance as the Environmental, Social and Governance (ESG) program of the year – Silver recipient.
In November 2022, we launched a feature on UOB TMRW app to enable customers to easily access green deals, investments and banking products. Through our app, customers will receive eco-friendly tips for greener lifestyle choices. Our Private Bank’s investment and research processes also incorporate ESG considerations into stock, bond, fund and ETF recommendations. We maintain a list of ESG ratings and considerations for all our asset classes and products, enabling customers to construct ESG focused portfolios. As part of our DPM solution, we also offer customised ESG portfolios for customers.
Ages 24 to 39 (both inclusive).
Safeguarding customers’ interests
Scams and fraud come in various forms and are constantly evolving. In 2022, we continued to enhance our anti-scam measures, stepped up our educational efforts and shared security tips to protect our customers. We proactively updated customers through social media, in-app push notifications, emails, UOB websites, online banking login alerts, UOB TMRW app pre-login alerts, branch posters and educational brochures.
Some anti-scam measures that we have rolled out to protect our customers include:
the removal of clickable links on text messages and emails;
an extra level of authentication to complete selected high-risk transactions via online banking and the UOB TMRW app; and
an emergency self-service kill switch feature, which enables our customers to disable access to their digital banking channels in case of need.
We conducted targeted scam education workshops to raise our customers’ awareness on common scam types. We also introduced a no-queue policy at the branches to give immediate assistance to customers, blocking their accounts, cards or online banking services if they suspect that their accounts have been compromised. Our branch staff are trained to recognise red flags from potential scam cases while handling customer transactions and they receive monthly updates on the latest scam typologies.
In 2022, our branch teams prevented a record number of scams in Singapore.
prevented loss from 19 cases.
prevented loss from 90 cases.
Alerted customers of scams via social media.
Shared videos on scam awareness with customers regularly.
Sent periodically to alert customers of new scams and security measures.
Held UOB scam awareness and prevention drive for senior citizens at Ang Mo Kio Community Centre.
Innovating to make fund investments more accessible
A wholly-owned subsidiary of UOB, UOB Asset Management (UOBAM) develops and offers an extensive suite of wealth management investment products, ranging from unit trusts and exchange-traded funds (ETFs) to customised portfolio management services.
2022 in review
Launched UOBAM Ping An ChiNext:
The first ETF to be launched via the ETF link collaboration between Singapore Exchange and Shenzhen Stock Exchange; and
Offers access to innovative, fast-growing companies listed on China’s ChiNext market.
Enhanced the UOBAM Invest mobile app for retail investors:
Enables customers to customise up to 10 portfolios and offers multiple investment mode options, including guided robo-advisory, do-it-yourself, or both; and
Launched a new thematic portfolio that enables customers to invest in key megatrends such as changing demographics, the digital economy and the green economy.
Celebrated multiple award wins across the region:
Global Retail Banking Innovation Awards 2022: Best Robo Advisory Initiative and Outstanding Machine Learning Initiative; and
Energy Risk Asia Awards 2022: Environmental Products House of the Year – UOB APAC Green REIT ETF.