- United Overseas Bank, which operates in Asia and is focused right now on growth in Singapore, said that it would launch its new ‘Infinity’ product to help customers bring their banking transactions into one place.
- The new dashboard will also allow customers to make international money transfers, and to track the progress of a payment as it travels to the recipient.
- The firm will also offer a biometric login function to ramp up security and reduce friction when logging in.
A leading bank operating in Singapore has announced the launch of a new service designed to help customers see all their banking transactions in one place.
United Overseas Bank (UOB) intends to bring its ‘Infinity’ product to people across Asia.
It will begin in Singapore, and then move on to other key markets as time passes.
The service, which is aimed at business clients, will permit customers to run their transactions through one central dashboard-style system.
Users of the service will have access to a control panel that is customisable, and that shows them the information about their transactions that is most relevant to their needs.
The service will be international in nature, and will allow users to make cross-border payments from it.
They will also be able to make transactions to regional beneficiaries and those nearby.
Payment receipts, meanwhile, will be on offer on an instantaneous timeframe.
One of the more unusual aspects of the service is the security function it offers.
It will be possible for customers to log into the Infinity platform using a biometric system.
This is set to increase the speed and reduce the friction involved in logging in to make the transaction – and will also improve safety and protect personal and financial data.
In a statement, So Lay Hua, who serves as head of Group Transaction Banking for Group Wholesale Banking at the firm, shared more details about the wider context of the development.
“The launch of UOB Infinity is another example of our commitment to developing digital solutions that enable our clients to bank more easily and conveniently,” she said.
She also went into more detail about the thinking behind the user experience of the app.
“In designing UOB Infinity, we have created an experience that is intuitive for our clients and enables them to access the financial intelligence they need quickly and easily.”
Design, she claimed, was an important part of the process – and it was rooted in the requirements of the customer.
“As part of our design approach, we engaged our clients at every step to understand what was most important to them and tapped industry best practices to create a solution that meets both the current and future needs of our clients,” she explained.
UOB is just one example of a firm that is working hard to offer online money transfer customers the services they need.
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