UOB Indonesia transforms digital banking for business clients with the launch of UOB Infinity

Jakarta, 17 January 2023 – UOB Indonesia is launching UOB Infinity, a digital platform which allows businesses to manage their banking needs in a simpler, smarter and more personalised manner. It was first launched in Singapore and is now available in the region across 10 locations.

Available to corporates and SMEs, UOB Infinity offers a customisable dashboard that enables clients to prioritise and display real-time financial information. This includes transaction statuses, pending tasks and other account information.

Clients can manage a range of domestic and cross-border banking activities – from checking their UOB accounts to making payments locally and regionally on a single platform.

Indonesian businesses are increasing their use of online banking services. In 2022, the number of digital users among UOB Indonesia customers rose by 28 per cent compared with a year earlier. They contributed to a growth of more than 30 per cent in online payment volumes year-on-year.

Real-time payments and tracking
The region is experiencing a rise in fund transfers. Fuelled by the rise of eCommerce and customer transaction behaviour, domestic real-time payments have seen double digit growth across ASEAN. This has also contributed to a growth of more than 30 per cent in real-time payments volume year-on-year across UOB markets” .

In this regard, UOB Infinity has incorporated BI-FAST to provide customers the ability to make real-time domestic payments at lower fees.

UOB Infinity also addresses a common concern among corporate treasurers – the lack of real-time tracking for cross-border payments . The digital solution provides businesses with realtime tracking through SWIFT for their remittance statuses, as well as transparency of the charges for cross-border transactions.

For both cross-border and domestic transactions, the platform offers shortcuts and widgets to assist customers in completing their transactions faster. Guidance is provided at each menu to ensure that users can execute their transactions.

Mr Wong Kartyono, Head of Transaction Banking, UOB Indonesia, said, "The pandemic has accelerated the digitalisation needs of clients. Through UOB Infinity, we show our commitment to developing digital solutions that enable clients to bank more conveniently and easily. UOB Infinity was designed based on clients’ insights to suit their business needs. The platform provides a user-friendly interface and a personalised experience that enables clients’ to pay in real-time. More importantly, it helps our clients increase their productivity and business performance."

UOB Infinity is available on desktop and the mobile app will be launched in the first quarter of 2023. The mobile app will come with a digital token, allowing customers to use their phones for authentication to access their UOB Infinity accounts.

UOB Indonesia is committed to providing digital solutions to help businesses spend less time and energy on their operations, so that they can focus on revenue growth. Through its continual efforts, UOB Indonesia received industry recognition at The Asset Triple A Treasury, Trade, Supply Chain and Risk Management Awards 2022. It was also recognised at The Asian Banker – The Bankers’ Choice Awards 2022 for Best Corporate Payments Project in Indonesia and Best Balance Sheet Management in Indonesia.