United Overseas Bank is committed to using technology to support employees rather than replace them as it develops digital banking services across Southeast Asia, according to the South China Morning Post.
The commitment puts staff training alongside the Singapore bank's investment in data, artificial intelligence and services that connect businesses across borders. The bank continues to invest in helping employees develop skills and encouraging innovation within its workforce.
The strategy featured in “How UOB is embracing technology to drive banking trends in Asia,” published on Nov. 11 by the South China Morning Post. The recording did not identify a named executive responsible for the commitments.
UOB began as United Chinese Bank, founded by entrepreneurs in Singapore. Its early purpose was to serve a community and grow alongside it, before acquisitions and a presence in neighbouring markets helped expand its reach.
The bank took its first step beyond Singapore into Malaysia in 1951. It opened a branch in Hong Kong in 1965, extending its international presence beyond those early regional roots.
By the 1980s, UOB's development included round-the-clock automated teller machines in Singapore. Those services gave customers access to banking outside branch hours, preceding later digital services that expanded their choice of when and where to bank.
UOB introduced TMRW in 2019 as a mobile-only digital bank designed around an app-based customer experience. UOB Infinity followed in 2022, connecting businesses across the region through a digital platform.
The bank's innovation group works with business units to develop digital products and services that complement its banking operations. Its remit includes using advanced technologies to provide practical services for individual customers and businesses.
Data and artificial intelligence form one focus of that work. UOB has been building its data capabilities since 2019 to support the adoption of artificial intelligence and services tailored to individual customers.
The regional strategy also combines digital platforms, partnerships and connections across the Association of Southeast Asian Nations. These services are intended to help companies expand across borders, with technology supporting the bank's existing regional operations.
The bank described its approach as one in which “technology augments its people and not replace them,” the recording said. Investment in employee skills accompanies the development of digital products and services.
The remarks gave no spending amount, staffing target or deadline for adopting artificial intelligence. They also left open how the commitment to support employees would apply to particular jobs as the bank develops its technology.
