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Fair Dealing

Fair Dealing

We put our customers and their financial goals first as we grow our business through conscious and concerted efforts across our entire franchise.

Treating customers fairly


At UOB, we put our customers first and it is on this foundation that we have developed our business and will continue to grow. What is not right for our customers is not right for us. Fair Dealing is at the heart of every decision and recommendation that we make at UOB. This is achieved through conscious and concerted efforts across our entire franchise.

The principles of Fair Dealing reflect UOB’s time-tested values of Honour, Enterprise, Unity and Commitment, and are not bound by business or geography. In particular, our value of Honour underpins our commitment to delivering the five Fair Dealing Outcomes as set out in the Monetary Authority of Singapore’s (MAS) Guidelines on Fair Dealing.

 From the boardroom to our branches, we put our customers and their financial goals first by:

Offering products and services that are suitable for them

Ensuring our employees give quality advice and appropriate recommendations

Providing clear, relevant and timely information so that customers can make informed financial decisions

Dealing with feedback in an independent, effective and prompt manner

We embed Fair Dealing principles in the way we design our investment products and services, our marketing and sales strategies and approaches, and our after-sales care. By consistently putting these principles into practice, we provide suitable financial services and solutions to customers and ensure long-term business sustainability.

Fair Dealing is the responsibility of everyone at UOB, regardless of our individual roles. This duty is embodied in the UOB Code of Conduct. We have in place frameworks, policies and guidelines to ensure that we always aim for and achieve the Fair Dealing Outcomes.

The Group Policy for Financial Advisory Services and Sale of Investment Products is an overarching policy that dictates the minimum standards on our provision of financial advisory services and the sale of investment products, including but not limited to:

  • competency of sales representatives;
  • due diligence for product suitability;
  • fair and transparent disclosures to customers on areas such as key product and investment risks, as well as relevant fees, charges and penalties; and
  • guidelines for product information and advertisements to ensure clarity, relevance and fairness.

Reviewed and approved by the Operational Risk Management Committee on an annual basis, the policy ensures that we have a consistent practice for dealing with our customers fairly.

The Fair Dealing Guidelines Committee (FDGC), comprising senior management appointed by our Chief Executive Officer, is responsible for ensuring Fair Dealing Outcomes for our customers. The Board and Management provide oversight through the Board Risk Management Committee and the Risk and Capital Committee respectively.

Under the FDGC’s leadership and guidance, UOB has been, over the years, proactively driving the implementation of various new and/or improved controls and process refinement initiatives aimed at improving the standards of achieving Fair Dealing Outcomes. These include:

  • mandatory training on MAS Fair Dealing for all employees;
  • regular ‘Tone from the Top’ communications to reinforce the importance of embracing Fair Dealing principles in all that we do;
  • the UOB Customer Commitments Awards programme to recognise colleagues who uphold and fulfil our customer commitments;
  • the Art of Service Recovery Programme, which aims to equip employees with the skillsets to address customers’ concerns effectively, to deliver service recovery and in turn, increase customer satisfaction; and
  • the MAS Fairness, Ethics, Accountability and Transparency (FEAT) and Fair Dealing Outcome Five Workshop, which brings together cross-functional teams from across the Group to discuss key insights into customer concerns and to proactively identify service gaps and improvement areas.

Creating positive customer experiences


Our Group Customer Advocacy team, which reports to the Group CEO, is responsible to drive customer-centricity across the organisation, through the monitoring of key performance indicators and metrics relating to customer experience at both the strategic and operational levels. Regular updates are presented to the Group CEO, country CEOs, senior management as well as relevant committees such as the Fair Dealing Guidelines Committee, the Operational Risk Management Committee and the Board Risk Management Committee. These updates relate to customers’ Net Promoter Scores (NPS) for Group Retail, Group Wholesale Banking and Global Markets, Contact Centre and our branches, as well as customer complaint indicators and end-to-end service measures.

We actively listen to customers across the life cycles of our products and services. Through our Voice of Customer programmes and activities, we manage customer insights and testing to improve customer satisfaction and loyalty.

We have cross-functional teams in place to develop, refine and implement improvement initiatives using the consolidated customer insights drawn from internal and external sources. UOB’s Art of Service Recovery Programme equips our colleagues with the skills to resolve customer complaints and to turn challenging situations into positive outcomes. We conduct reviews and root-cause analyses for customer complaints we receive. With the help of the relevant business and/or support unit, we address customer concerns and identify areas for improvement.

Our continuous improvement is also guided by the NPS and Customer Experience (CX) Score, which are tracked throughout the year. Through industry surveys such as the Customer Satisfaction Index of Singapore and findings from our external consultants, we are able to obtain an independent gauge of the level of satisfaction among our customers as well as their changing needs. We use information and insights from these sources to enhance the customer experience and to develop products and services that enable us to serve our customers better.


Data privacy

Data privacy

We respect and safeguard the privacy and rights of our customers throughout our services and across our operations.

Information security

Information security

We protect our data and assets from potential cybersecurity risks and threats, ensuring reliable and efficient services for our customers.

Financial inclusion

Financial inclusion

We are committed to making our banking products and services accessible and affordable.