UOB Launches Platform for Corporate Clients
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The new platform aims to transform the digital banking experience for corporate clients and manage their banking needs in a simpler, smarter, and more personalized manner.
Customers will be able to manage a range of domestic and cross-border banking activities on UOB Infinity, which aims to streamline business banking by integrating features such as cash management and trade finance, as well as real-time payment receipt confirmation at the beneficiary bank and information on charges for the cross-border transaction, including those from the intermediary bank.
In addition, its app allows clients to make a wide range of payments – from local bill payments to making domestic and cross-border fund transfers – through services such as PayNow, FAST, and telegraphic transfers.
The platform will be rolled out across the region, beginning with Singapore, the bank said in an announcement on Wednesday. Users of BIBPlus, the bank’s existing business internet banking platform, can use Inifinity with the same credentials.
The design of Inifinity, such as its customizable desktop, comes amid rising demand for personalized digital experiences and increased use of electronic payments for business transactions.
The result is «an experience that is intuitive for corporate clients and enables them to access the financial intelligence they need quickly and easily,» So Lay Hua, UOB head of group transaction banking, group wholesale banking, said.
Questions & Answers
Q.What specific banking activities can corporate clients manage using the UOB Infinity platform?
What specific banking activities can corporate clients manage using the UOB Infinity platform?
Clients can manage both domestic and cross-border banking activities. This includes cash management, trade finance, real-time payment receipt confirmation at the beneficiary bank, and information on cross-border transaction charges, including those from intermediary banks.
Q.Which payment services does the Infinity app support for fund transfers?
Which payment services does the Infinity app support for fund transfers?
The app allows for local bill payments, domestic, and cross-border fund transfers. These payments can be made through services such as PayNow, FAST, and telegraphic transfers, offering a broad range of options for corporate clients.
Q.How will the UOB Infinity platform be introduced across the region?
How will the UOB Infinity platform be introduced across the region?
The platform will be rolled out regionally, with its initial launch taking place in Singapore. The bank made this announcement on Wednesday, indicating a phased introduction of the new digital banking experience.
Q.Can existing UOB business internet banking users access the new Infinity platform with their current details?
Can existing UOB business internet banking users access the new Infinity platform with their current details?
Yes, users of BIBPlus, the bank's existing business internet banking platform, can use Infinity with the same credentials they already possess. This ensures a smooth transition for current clients to the new system.
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