Singapore's StarHub has signed an MoU with a leading bank in the country, United Overseas Bank Limited (UOB) to develop and to provide digital solutions to help SMEs accelerate their digitalisation efforts.
Under the MOU, UOB will be the first organisation and the main one from the financial industry to join StarHub’s digital marketplace for SMEs. The digital marketplace aims to bring together different product and service providers across industries to create a vibrant ecosystem that will enable SMEs to transform their business models and go-to-market strategies. Through StarHub’s digital marketplace, UOB will offer SMEs access to a comprehensive range of digital solutions that SMEs will need to automate and to streamline their business operations. The digital marketplace will go live by October 2018.
Both companies will also explore the provision of real-time transaction insights for SMEs to understand better their customers’ needs and preferences. They will also work together to help in the SMEs’ digital transformation through the adoption of technologies such as artificial intelligence.
Other solutions to be available on StarHub’s digital marketplace will include a range of “as-a-service” solutions, such as footfall-as-a-service, digital location marketing-as-a-sevice, customer loyalty-as-a-service, training-as-a-service and employee engagement-as-a-service.
Dr Chong Yoke Sin, Chief of Enterprise Business Group, StarHub
Combining our established network of clients and partners, we will be able to create a digital economy of buyers and suppliers of solutions and services to spur a thriving SME sector.
Frederick Chin, Head of Group Wholesale Banking, UOB
StarHub and UOB share the same goal of helping SMEs grow and this is why we want to assist them in tapping the benefits of digitalisation to drive their business performance and to meet their business goals.
