UOB Indonesia launches UOB VANPlus mobile app to help corporate clients collect payments more efficiently

Jakarta, 12 August 2020 – PT Bank UOB Indonesia (UOB Indonesia) today announced the launch of UOB VANPlus, a mobile app that builds on its existing virtual account service 1 for corporate clients to manage their collections of payments more efficiently. The new mobile app will help to facilitate the invoicing and payment processes between the Bank’s corporate clients and their end customers. This will in turn reduce the time taken by corporate clients for their collection processes from three days to just one day.

With UOB VANPlus, the Bank’s corporate clients, including schools, residential and commercial property management companies, internet service providers and cable TV companies, can manage their entire collections process – from sending of invoices and payment reminders to receiving payments digitally. This will help them to improve their invoicing capabilities and the monitoring of collections. Their end customers will also be able to use the mobile app to receive invoices, to make payments quickly and to retrieve historical bills and payment records easily.

Wong Kartyono, Head of Transaction Banking, UOB Indonesia, said, “The collection of monthly fees is a laborious task for many of our corporate clients. Some of them have up to 1,000 collections a month, resulting in the need to dedicate resources to manage the tracking and reconciliation process. With UOB VANPlus, our clients will be able to improve their collection process and eliminate the need for manual and paper-based record keeping. This will in turn help our clients to reduce the time taken on administrative tasks and instead focus on improving their productivity and business performance.”

UOB VANPlus was developed in collaboration with PT Pembayaran Lintas Usaha Sukses, an Indonesian financial technology (FinTech) company. The collaboration is part of UOB Indonesia’s commitment to using technology and to working with FinTech companies to develop innovative solutions that help its clients overcome challenges and deepen their capabilities.

How VANPlus works
For UOB Indonesia’s corporate clients (as a biller)

1. Biller sends the invoice using the UOB VANPlus web application.
2. At any time, the Biller can use the online dashboard to view transactions and to process payments received from its end customers. This will facilitate the monitoring and reconciliation of all payments received via UOB VANPlus.
3. The Biller can send billing push notifications, as well as news or updates to its customers’ UOB VANPlus mobile app.

For the Billers’ end customers (as a member):

1. Member will receive their monthly invoice from the Biller and payment reminders through the UOB VANPlus mobile app.
2. Member can make payments directly using the app via e-Wallet. They can also pay via real-time funds transfer at bank branches or ATMs or in cash at selected retail stores, post offices or Pegadaian.