The FinLab launches online platform to help more SMEs across ASEAN transform their business digitally

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    23 June 2020

    The FinLab, United Overseas Bank’s (UOB) innovation accelerator, today launched The FinLab Online, a digital platform to help small- and medium-sized enterprises (SMEs) and start-ups across ASEAN implement digital solutions to transform their businesses.


    Since its launch in 2015, The FinLab has received interest from more than 2,000 businesses in Singapore, Malaysia, and Thailand who want to embark on or further their digitalisation journey. In bringing its innovation programmes online, The FinLab is creating the opportunity for more ASEAN business owners and entrepreneurs to access The FinLab’s tried and tested business transformation programmes.


    SMEs will be able to tap the expertise of industry mentors through video tutorials and webinars, as well as sign up for The FinLab Online Programme to conduct a free self-assessment of their technology needs based on The FinLab’s proprietary business analysis tools. They will then be guided on digitalisation strategies and solutions to address immediate business challenges and be matched with relevant technology solution providers.


    For example, The FinLab Online’s community network will enable SMEs and start-ups to tap relevant digital solutions specific to their business and operational needs such as e-commerce, marketing, human resources, administration and customer relationship management. Members will also be able to learn from and leverage additional resources provided by The FinLab Online’s ecosystem of partners such as the Malaysia Digital Economy Corporation (MDEC).


    Ms Pauline Sim, Co-Head, The FinLab, said: “Digital adoption is not a one-size-fits-all approach, and there is a clear demand for tailored, actionable support for SMEs and start-ups to take charge of their business growth journey. In just April and May alone, more than 440 SMEs and start-ups from various industries across the region registered to be part of The FinLab Online as they looked to tap digital solutions to transform and grow their businesses.


    “The FinLab Online leverages UOB’s extensive network and close to 85 years of experience operating in ASEAN to provide The FinLab Online’s community with the necessary expertise, knowledge and connections. We will also share insights from UOB’s own experience in growing a successful regional business with our community members to help them navigate their own expansion in ASEAN in an increasingly digital world,” Ms Sim said.


    K S Ho, Head of Operations at Acepac International, one of the companies who has benefited from The FinLab Online sessions, said: “Through the Mentoring Leaders: Opportunities Unusual series, we gained valuable tips and advice on tools and strategies to view COVID-19 as an opportunity rather than a threat. We are beginning to explore ways to scale our e-commerce capabilities and look forward to the upcoming training workshops that will help SMEs optimise their platforms and boost audience engagement.”


    Membership to The FinLab Online community is free and registration is open to all SMEs and start-ups in ASEAN.


    Businesses keen to find out more about The FinLab Online and its upcoming initiatives can attend the Info Session on 10th July, 11am–12pm here.


    About UOB
    UOB is a leading bank in Asia. Operating through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, UOB has a global network of around 500 offices in 19 countries and territories in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. Today, UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings.


    For nearly nine decades, UOB has adopted a customer-centric approach to create long-term value by staying relevant through its enterprising spirit and doing right by its customers. UOB is focused on building the future of ASEAN – for the people and businesses within, and connecting with, ASEAN.


    The Bank connects businesses to opportunities in the region with its unparalleled regional footprint and leverages data and insights to innovate and create personalised banking experiences and solutions catering to each customer’s unique needs and evolving preferences. UOB is also committed to forging a sustainable future through working with its stakeholders to create positive environmental impact, fostering social inclusiveness and pursuing economic progress. UOB believes in being a responsible financial services provider and is steadfast in its support of art, social development of children and education, doing right by its communities and stakeholders.


    For media queries, please contact 

    UOB Newsroom

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