UOB Malaysia launches transformation programme to help Malaysian companies adopt technology for productivity and growth

United Overseas Bank (Malaysia) Bhd (UOB Malaysia) today launched a business transformation programme, the “Jom1 Transform Programme”, to help businesses in Malaysia adopt technology to drive productivity and growth. The Jom Transform Programme is run by The FinLab, an innovation accelerator under United Overseas Bank Limited. The FinLab first launched its business transformation programme in Singapore in 2018. 

During the three-month Jom Transform Programme, participating businesses will attend a series of workshops conducted by industry experts2 to gain the necessary skills and know-how in specific areas of digital transformation such as business process re-engineering and digital marketing. They will also be matched with specially-chosen technology partners to pilot relevant solutions and to receive guidance to assess the effectiveness of these solutions. 

Mr Wong Kim Choong, Chief Executive Officer, UOB Malaysia, said the Jom Transform Programme reaffirms the Bank’s commitment to help Malaysian businesses digitalise their businesses for continued growth. 

“The FinLab’s Jom Transform Programme will help businesses digitally transform their operations, and in turn support the national agenda on business innovation. Through the adoption of technology, Malaysian businesses will be able to manage their operations more efficiently, to improve productivity and to upskill their employees to ensure that their business remains relevant in the digital economy. To help these businesses grow further, we will also support them in their expansion both at home and across the region through UOB’s established and integrated network.

” Collaborating with ecosystem partners to drive success UOB Malaysia will be working with five partners that share the common goal of helping Malaysian SMEs innovate and digitalise their business for growth. From both the private and public sectors, these partners are the Chinese Chamber of Commerce & Industry of Kuala Lumpur & Selangor (KLSCCCI), the Malaysian Association of Tour and Travel Agents (MATTA), Maxis, the Malaysia Digital Economy Corporation (MDEC) and SME Corporation Malaysia (SME Corp. Malaysia). 

The partners will support the Jom Transform Programme by providing mentorship and expertise to participating businesses. They will also organise events with UOB Malaysia and The FinLab to promote digitalisation among Malaysian businesses (see Appendix for details on the partners’ individual contributions). 

Ms Pauline Sim, Co-Head, The FinLab, said that the strategic partnerships will greatly enrich the Jom Transformation Programme. “The FinLab’s mission is to help businesses across ASEAN transform their business through digitalisation and innovation so that they can achieve scale and growth.

With the support of like-minded partners from government agencies, industry associations and leading private companies, Malaysian businesses will be able to tap the combined knowledge, experience and networks of these organisations to accelerate their transformation process.”

Interested businesses are invited to attend the programme’s Kick-off Event on 21 June 2019, 2pm at White Box, Publika Solaris Dutamas. They can register their interest at www.thefinlab.com/malaysia.

About United Overseas Bank (Malaysia) Bhd 

United Overseas Bank (Malaysia) Bhd (UOB Malaysia) is a subsidiary of Singapore-based United Overseas Bank Limited (UOB) and has had a presence in Malaysia since 1951. UOB Malaysia offers an extensive range of commercial and personal financial services through its branches, subsidiaries and associate companies: commercial lending, investment banking, treasury services, trade services, cash management, home loans, credit cards, wealth management, bancassurance and Islamic banking products. UOB is a leading bank in Asia with a global network of more than 500 offices in 19 countries and territories in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. UOB is rated among the world’s top banks: Aa1 by Moody’s and AA- by Standard & Poor’s and Fitch Ratings respectively. In Malaysia, UOB Malaysia receives AAA/Stable/P1 financial institution rating from RAM Ratings. Over more than eight decades, generations of UOB employees have carried through the entrepreneurial spirit, the focus on longterm value creation and an unwavering commitment to do what is right for our customers and our colleagues. We believe in being a responsible financial services provider and we are committed to making a difference in the lives of our stakeholders and in the communities in which we operate. Just as we are dedicated to helping our customers manage their finances wisely and to grow their businesses, UOB is steadfast in our support of social development, particularly in the areas of art, children and education. For further information, please visit www.uob.com.my. 

About The FinLab

The FinLab operates acceleration programmes focused on propelling the growth of innovative financial technology (FinTech) and technology companies and catalyses the digital transformation of businesses. Since its inception in 2015, The FinLab has run two acceleration cycles for FinTech companies chosen from more than 700 applications from 44 countries. The third cycle of The FinLab’s programme focused on helping SMEs on their digital transformation, including matching suitable and innovative FinTech and technology solutions with the needs of SMEs.