UOB Malaysia has introduced UOB Infinity for their corporate clients who look forward to managing their banking needs in a simpler and more personalised manner now.
A customisable online dashboard, UOB Infinity enables clients prioritise and visually display information that is most important to them. 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, 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.
The said app is also downloadable as a mobile app for clients who are constantly on the go. 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.
“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,” Ms Ng Wei Wei, Chief Executive Officer, UOB Malaysia said.
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 added.
Greater certainty and transparency when making cross-border payments UOB Infinity also 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 successfully credited into the beneficiary’s account, saving them the hassle of manually checking on the status of the transaction.
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.
“Beyond the convenience, we have also ensured that their transactions can be conducted securely with our Infinity Secure digital token,” Mr Lucas Chew, Country Head of Transaction Banking, UOB Malaysia said.
Amid the increased use of electronic payments for business transactions, the UOB Infinity app enables corporate clients to manage all their payment needs efficiently through mobile devices.
Clients can make a wide range of payments – from local bill payments to domestic and cross-border fund transfers. The app supports services such as Interbank GIRO, DuitNow, JomPAY, the Real-Time Electronic Transfer of Funds and Securities System (RENTAS) and telegraphic transfers.
In the first half of 2022, UOB Malaysia saw the number of DuitNow corporate transactions increase by more than five times as compared with the same period a year ago. To further drive the adoption of contactless collections, clients can also generate a QR code through UOB Infinity to ask for DuitNow payments from their buyers.
