Earlier today, United Overseas Bank (UOB) announced the launching for UOB Infinity. UOB Infinity is a new digital banking platform from the bank to create better productivity and business performance for its clients. An incline in UOB shares after the announcement of its new digital banking platform reflects the positive reaction that the platform receives.
UOB Infinity: digital solution for digital world problems
COVID-19 pandemic undeniably brought a lot of changes in our life. UOB corporate revealed that its customer call service receives a lot of cross-border payments queries. To solve the issues concerning its customers, UOB decides on the development of UOB Infinity.
Through UOB Infinity, customers will be able to find out the fee for cross-border transactions. UOB plans to provide very transparent cost information regarding the transaction, including those done from intermediary bank. Thus, customers will no longer experience a discrepancy in the final amount due to the fee cuts.
In addition, UOB’s new digital banking platform also provides a wide range of payments choices. Local bill payments, domestic and cross-border fund transfers are available for its users. To advance with these features, UOB affiliated with PayNow, FAST, and telegraphic transfers.
A look into UOB Infinity
Business Times added that the UOB Infinity also promises convenient platform operations. The platform displays its users’ important information right on the dashboard. The digital banking platform will also allow its users to personalise their dashboard accordingly. Hence, users can easily operate the platform without experiencing unnecessary problems.
In the future, UOB plans to add biometric login through a soft token on the UOB Infinity’s mobile app. This feature is believed to give faster access and simpler transaction authorisation. UOB also emphasized that the company prioritizes the safety of its users’ personal information.
UOB’s new platform and its effect on UOB shares
UOB Infinity is currently only available in Singapore. The bank will add more availability in other countries soon. Despite that, Business Times noted UOB shares rose S$19.37 per 10.41 a.m. The digit signifies a 1.3% incline on the shares after the announcement.