Founded in Singapore in 1935, United Overseas Bank (UOB) has grown a strong global network of around 500 branches and offices across 19 countries and territories. For years, UOB is rated one of the world’s top banks, ranked 'Aa1' by Moody's Investors Service and 'AA-' by both S&P Global and Fitch Ratings with an Aa1 rating from Moody’s and AA– by both S&P Global Ratings and Fitch Ratings.
UOB set up its first overseas branch in Hong Kong in 1965. Nowadays, UOB Hong Kong provides customised financial solutions to corporate customers ranging from local mid-sized to large multinational corporates, financial institutions, public sector and non-government organisations to help them advance their business responsibly. The Bank also provides comprehensive private banking products and solutions to high-net-worth individuals and family offices in Hong Kong.
Always keeping customers at the centre
In response to the new Multiple Credit Reference Agencies (MCRA) initiative introduced by three financial associations in Hong Kong to better protect consumer credit data and enhance service quality, UOB Hong Kong has partnered with HKT to develop its Credit Reference Platform (CRP) gateway solution. The Bank is among the first batch of financial institutions to participate in the CRP which provides a robust and resilient infrastructure for exchange and protection of credit data.
The Bank aims to harness the latest technology and data to make financing simpler, safer and smarter for its customers. “Leveraging the digital capability available on HKT’s platform, UOB Hong Kong will be able to provide tailored advisory and financial solutions to our customers for greater convenience and flexibility,” said Thomas Wai, Head of Business Technology and Operations Management and Infrastructure Platform Services at UOB Hong Kong.
Transforming digital banking experience for corporates and individuals
The COVID-19 pandemic has changed the way people live, work and connect. Businesses are also adapting to the ‘new normal’. The launch of CRP with HKT and other digital channels from UOB, such as UOB Infinity, demonstrate UOB’s commitment to helping its customers adapt to the new digital economy, improving operational efficiency and making better decisions through digitalisation.
Collaborating at an unprecedented level
At UOB, innovation is always encouraged in every way. HKT shares the same belief and provides industry-leading solutions through its strong partner ecosystem, from ICLNet2, Servers and Network Equipment to CRP Application, Project Management and System Integration to meet the Bank’s highest standards.
HKT’s professionals has worked closely and responsively with UOB Hong Kong and its headquarters to meet its stringent enterprise system design and security guidelines. Weekly progress updates were provided with a clear communication plan to keep everyone on the same page. Thomas said “HKT played a critical role in overall technical delivery which enabled us to focus on what matters most.”
Mitigating supply chain disruption through ecosystem partners
The semiconductor chip shortage and the prolonged pandemic have caused severe disruption to supply chains of technology equipment, greatly impacting procurement and delivery schedule of the equipment.
Benefiting from HKT’s ecosystem and strong vendor portfolio for system integration, UOB Hong Kong quickly secured the equipment needed for the project in a timely manner to meet the tight schedule, saving the Bank’s sourcing and procurement time and enabling them to focus on the critical platform development and compliance requirements fulfilment. “HKT’s powerful ecosystem brings players of different types and sizes together, helping us get what we want and expedite the project delivery,” Thomas added.
Accelerating digital transformation together
Following the successful project rollout, UOB Hong Kong is exploring to leverage HKT’s extensive partner ecosystem and Enterprise Managed Services to streamline internal processes and realise the potential of digital transformation in an agile manner.