KUALA LUMPUR: UOB Malaysia has introduced UOB Infinity, a digital banking platform to help its corporate clients manage their banking needs in a simpler and more personalised manner.
The digital banking platform offers a customisable online dashboard that allows clients to prioritise and visually display information that is most important to them. Additionally, corporate clients will be able to see the state of their company’s finances, including that of their overseas markets, all at a glance.
On the digital platform, UOB said clients can manage a range of domestic and cross-border banking activities, from checking their UOB accounts across various markets to making local and international payments, without needing to log into multiple platforms.
UOB Infinity is downloadable as a mobile app. Its biometric login via a soft token enables faster access and simplified transaction authorisation while ensuring security. The mobile app’s soft token comes with multi-factor authentication for company to approve and clear transactions.
Meanwhile, UOB Malaysia CEO Ng Wei Wei (pix) said the launch of the digital banking platform is to assist corporate adapt to the new realities of the digital economy.
“By leveraging insights from our clients, we have developed UOB Infinity to address the diverse needs of corporates including their trade requirements and the ability to keep track of their company in real-time across the markets where they operate. Our goal is to help our clients improve their operational efficiency and make better business decisions through digitalisation, while supporting them to seize opportunities regionally through the bank’s connectivity,” she said in a statement.
The platform addresses the lack of real-time tracking for cross-border payments for corporate clients. The digital solution provides businesses with a real-time notification through SMS or email when their payment has been credited into the beneficiary’s account.
Clients will also be informed of the charges for the cross-border transaction, including those from the intermediary bank. This feature provides businesses greater transparency on the costs incurred for the transaction. It helps prevent instances where there is a dispute in the final amount received by the beneficiary due to the charges involved.