15th August 2022 - 3 min read
UOB Bank has launched a new service dubbed UOB Infinity for its corporate clients, enabling them to now manage their banking needs in a simpler and personalised manner. It comes with several features, including having a customisable online dashboard as well as the ability to track cross-border payments in real time.
In a statement, UOB highlighted that UOB Infinity’s customisable online dashboard will allow clients to prioritise and visually display information that are most relevant to them, thereby offering offer a consolidated view of your company’s finances at one glance (including overseas market). Additionally, it functions as a sort of one-stop centre; clients can manage a range of domestic and cross-border banking activities – from checking their accounts across various markets to making local and international payments – without having to log into multiple platforms.
Aside from that, UOB Infinity also lets you to track cross-border payments in real time – something that is often neglected for the corporate client segment. With this service, corporate clients will be able to receive real-time notification of their payments via SMS or email, which means they will not need to manually check on the status of their transactions.
UOB Infinity will also clearly display all its fees and charges for cross-border transactions, including those from the intermediary banks. This provides greater transparency on the costs incurred, which will be beneficial in the event of any disputes. Security-wise, all transactions are authenticated with digital soft tokens and multi-factor authentication.
In terms of payment options, UOB Infinity is also equipped with a comprehensive range of payment functionalities. Clients can make a wide range of payments from the service itself – such as local bill payments to domestic and cross-border fund transfers – via various payment services, including Interbank GIRO (IBG), JomPAY, Real-Time Electronic Transfer of Funds and Securities System (RENTAS), and telegraphic transfers. Not only that, clients can also generate QR codes through UOB Infinity to request for DuitNow payments from their own customers.
While customers can access UOB Infinity via its dedicated website, it is also available as an app for those who are always on the go (downloadable from Google Play and the App Store). Once downloaded, clients will have the option to set up their biometrics on the app for better security and convenience. Meanwhile, clients using UOB’s existing business internet banking platform, UOB BIBPlus, can go ahead and log in to UOB Infinity using the same credentials.
“Today’s launch of UOB Infinity is yet another proof point of UOB Malaysia’s commitment to help corporates 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,” said the chief executive officer of UOB Malaysia, Ng Wei Wei.
Ng also emphasised that UOB’s goal is to help its client improve their operational efficiency and make better business decisions through digitalisation. This is on top of offering support so that they can seize opportunities regionally through the bank’s connectivity.
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