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in-focus

Asean digital bank launched


Thailand will have the first consumers in Asean to experience TMRW, a digital bank powered by United Overseas Bank (UOB).

TMRW is the first mobile-only bank designed for Asean’s millennials who prefer to bank on their mobile phones.
Asean’s digital generation, who form the third largest base of digitally savvy consumers after China and India, expect effortless and engaging digital experiences to manage their money wisely, the bank said. TMRW’s “different generation, different solutions” approach aims to meet their needs in a manner in sync with their lifestyles, it said.
The digital bank translates transaction data into actionable insights that make the banking experience interesting and fun while enabling customers to be smarter at saving and spending. As customers spend more time with TMRW, the mobile-only bank becomes even more familiar with their wants and needs in order to serve each one better, it said.
Dr Dennis Khoo, head of digital banking at UOB, said TMRW was created from scratch with the sole purpose of meeting the financial needs of Asean millennials.
“While Asean is known for its diversity, there remains a set of fundamental expectations by the digital generation when it comes to digital services, such as simplicity and an engaging user experience. So we took the time needed to understand our millennial customers and how and why they engage with mobile apps and digital services the way they do. We then used those insights in designing TMRW for today’s millennials. TMRW pushes simplicity to the limit and engages them in new ways beyond the standard digital banking functionalities.
“Given the diverse cultures in the region, TMRW was also designed to draw out and to celebrate the distinctiveness in each of the markets.
“Having a mobile-only digital bank enables us to explore new frontiers when it comes to designing a user interface based on customers’ banking behaviour and needs and to be sensitive to the nuances of each market,” Dr Khoo said.

Published : February 14, 2019

By : The Nation