Financial Inclusion

Financial Inclusion

UOB Indonesia is committed to empowering underbanked and underserved individuals and businesses through the provision of useful and affordable financial products and services that meet their needs in a responsible and sustainable way. We also facilitate financial inclusion and access through digital innovation and customer education.

Our Policy and Commitments

We understand that the Indonesian people's knowledge, understanding and access to financial institutions, products and services are still low and uneven. Therefore, UOBI carries out financial literacy activities in line with the Financial Services Authority Regulation Number 76/Pojk.07/2016 concerning increasing financial literacy and inclusion within the financial services sector for consumers and/or public.

To this end, as part of Bank Indonesia's working group (Pokja BI), we are committed to actively engage in implementing Financial Literacy activities for the community through Literacy, Community and Collaboration, which include:

  1. Literacy

    By sharing knowledge about the benefits, risks and responsibilities of banking products and services, financial management and knowledge about banking in general.

  2. Community

    By establishing discussion groups and the sharing of experiences between groups which will build communities of practice, aiming to expedite the knowledge spread.

  3. Collaboration

    By collaborating between UOBI and related parties, it is expected that the financial literacy program can provide benefits to the wider community. The UOBI literacy activities are led by PFS Wealth and Liabilities Product work unit, assisted by business units and supported by all UOBI work functions throughout Indonesia focusing on:

    • professionals/employees;
    • students/college students;
    • community/public; and
    • Micro, Small and Medium Enterprises (MSME).

UOBI has a program to introduce financial literacy to high school and college students as well as low-income employees, allowing them to access financial products and enhance their understanding of sound financial management principles. At the same time, we expect to drive up employee and student account openings.

We have a Corporate Employee Program (CEP) that gives businesses access to payroll tools. Most of the workforce in businesses like factories earns a minimum salary, and some are unbanked.

Through this initiative, we give them access to USave and TMRW accounts, offering easy access using UOBI ATM/ Debit cards in ATM bersama and Prima networks, which will enable them to manage their finances more effectively.

We also promote savings products such as TabunganKu and Simpanan Pelajar (Simpel) aimed for students. These products offer affordable initial deposits, and no monthly fees.

Support for SMEs

Support for SMEs

Supporting Small Medium Enterprises (SME) in accessing bank financing and digitalisation

Access to bank financing can be a challenge for many SME and UOB Indonesia has in place various solutions to address this funding gap. Our SME customers in Indonesia can also access UOB’s banking services conveniently, at our branches or through digital banking channels.

Review of Policy and Performance Effectiveness

Across UOB Indonesia, our colleagues are equipped with the skills and knowledge to serve the needs of a diverse customer base, including those who may be physically or visually impaired. Through our digital advocates at our branches across the region, we engage customers who may be less digitally-savvy, especially senior citizens, to help them cultivate good digital habits and stay safe while banking digitally.
We continue to promote savings culture through UOB Savings Week program.

Our Policy and Commitments

We are cognisant that creating support for SMEs to scale up their operations and pursue growth will entail an end- to-end approach that priorities the incorporation of digital transformation throughout the entire process. SMEs who are able to adapt and embrace digitalisation will be sure to thrive, as more people rely on the digital economy.

UOBI continues to support our SME customers through:

  • enhancing our digital banking services for our SME customers in areas of payments, collection and financing facilities;
  • host webinars for SME customers in cooperation with our ecosystem partners, in the form of providing views on the economic outlook and market updates;
  • reach out to our ecosystem partners such as tech companies, insurance providers, real estate agents, and developers to share knowledge and strategies on various topics including how to manage challenges related to the pandemic and economic uncertainties; and
  • respond to the need for a commercial property loan in the local community with campaigns and webinars

Review of Policy and Performance Effectiveness

UOB supports SMEs in addressing their funding gap and business expansion.

UOB offers Trade Finance products with higher Loan to Value ratio, which provides businesses with more funding for local and international transactions. Further, Working Capital Loans are also offered at competitive rates with various collateral options including Bonds to assist SMEs in managing their finances.

UOB also continues to offer UOB BizSmart, an integrated cloud-based digital system to assist businesses in streamlining their operations in accounting, HR, and Point-of-Sales system – reducing manual work.

UOB FinLab – the Bank’s innovation accelerator program – continues to expand its engagement with over 40 SMEs and 600 Womenpreneurs attending our series of workshop to enhance the business owner’s financial management skills.