Progressive UOB floors the gas pedal on digital banking

It’s innovate or be left out for banks.

In this fast-paced digitised world, it wouldn’t hurt any business to start looking ahead and aiming far. United Overseas Bank, for one, has announced a desire to take its investments in the digital space up another notch.

According to UOB Kay Hian, UOB management plans to make massive investments in digital banking to guard against competition from Fintech.

Analysts warn that this foray into digital banking would also entail beefing up cyber-security.

“IT-related expenses and depreciation are expected to increase. Management hopes to generate returns from these investments through fee income,” UOB Kay Hian said.
 

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!