Information Security

We place the utmost importance on maintaining and protecting our data and assets. UOBI has implemented a Risk Management Technology framework and an IT Security Management Policy to consistently identify and mitigate all cybersecurity risks.

In addition to having a dedicated security monitoring team that detects and responds to potential cybersecurity risks and threats, we collaborate with leading cybersecurity providers to enhance security. We also instill and provide training on the importance of information security and cybersecurity risks to all employees.

Our Policy and Commitments

• Promote responsible sharing and data usage via Bank-wide guidelines as well as awareness programmes to protect, secure data confidentiality and privacy. This is in line with current and emerging data privacy laws, internal business data sensitivity and the regulatory landscape;
• Expand the deployment of ethical and fairness principles in the design and validation of key Al and analytical models;
• Protect and secure UOBI's and customers’ information by continually deepening our cybersecurity capabilities to counter threats and to address an evolving security landscape; and
• Create strong cyber and information security awareness with a “security is everyone’s responsibility” mindset and maintain 100 per cent completion rate for employee security training.

Review of Policy and Performance Effectiveness

All policies that we have established regarding information security are well implemented. All UOBI employees have received IT Security training. As of December 2023, 100 per cent new hires have completed the training module.

In 2023, there were no legal proceedings taken against UOBI in respect of any data privacy breach.

We continued to develop our cybersecurity capabilities and enhance our operating models to strengthen our defence against the dynamic threat landscape. Through these efforts, we contribute to the security and stability of the financial system and trust in the banking industry. As we advance our digital capabilities, we remain committed in increasing our investments in our cyber resilience and security.