UOB Malaysia launches transformation programme to help Malaysian companies adopt technology for productivity and growth

15-Jun-2019 Intellasia | Press Release | 6:00 AM Print This Post

United Overseas Bank (Malaysia) Bhd (UOB Malaysia) today launched a business transformation programme, the “Jom[1] Transform Programme”, to help businesses in Malaysia adopt technology to drive productivity and growth. The Jom Transform Programme is run by The FinLab, an innovation accelerator under United Overseas Bank Limited. The FinLab first launched its business transformation programme in Singapore in 2018.

During the three-month Jom Transform Programme, participating businesses will attend a series of workshops conducted by industry experts[2] to gain the necessary skills and know-how in specific areas of digital transformation such as business process re-engineering and digital marketing. They will also be matched with specially-chosen technology partners to pilot relevant solutions and to receive guidance to assess the effectiveness of these solutions.

Wong Kim Choong, Chief Executive Officer, UOB Malaysia, said the Jom Transform Programme reaffirms the Bank’s commitment to help Malaysian businesses digitalise their businesses for continued growth.

“The FinLab’s Jom Transform Programme will help businesses digitally transform their operations, and in turn support the national agenda on business innovation. Through the adoption of technology, Malaysian businesses will be able to manage their operations more efficiently, to improve productivity and to upskill their employees to ensure that their business remains relevant in the digital economy. To help these businesses grow further, we will also support them in their expansion both at home and across the region through UOB’s established and integrated network.”

Collaborating with ecosystem partners to drive success

UOB Malaysia will be working with five partners that share the common goal of helping Malaysian SMEs innovate and digitalise their business for growth. From both the private and public sectors, these partners are the Chinese Chamber of Commerce & Industry of Kuala Lumpur & Selangor (KLSCCCI), the Malaysian Association of Tour and Travel Agents (MATTA), Maxis, the Malaysia Digital Economy Corporation (MDEC) and SME Corporation Malaysia (SME Corp. Malaysia).

The partners will support the Jom Transform Programme by providing mentorship and expertise to participating businesses. They will also organise events with UOB Malaysia and The FinLab to promote digitalisation among Malaysian businesses (see Appendix for details on the partners’ individual contributions).

Ms Pauline Sim, Co-Head, The FinLab, said that the strategic partnerships will greatly enrich the Jom Transformation Programme.

“The FinLab’s mission is to help businesses across Asean transform their business through digitalisation and innovation so that they can achieve scale and growth. With the support of like-minded partners from government agencies, industry associations and leading private companies, Malaysian businesses will be able to tap the combined knowledge, experience and networks of these organisations to accelerate their transformation process.”

Interested businesses are invited to attend the programme’s Kick-off Event on 21 June 2019, 2pm at White Box, Publika Solaris Dutamas. They can register their interest at www.thefinlab.com/malaysia.

About United Overseas Bank (Malaysia) Bhd

United Overseas Bank (Malaysia) Bhd (UOB Malaysia) is a subsidiary of Singapore-based United Overseas Bank Limited (UOB) and has had a presence in Malaysia since 1951. UOB Malaysia offers an extensive range of commercial and personal financial services through its branches, subsidiaries and associate companies: commercial lending, investment banking, treasury services, trade services, cash management, home loans, credit cards, wealth management, bancassurance and Islamic banking products.

UOB is a leading bank in Asia with a global network of more than 500 offices in 19 countries and territories in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. UOB is rated among the world’s top banks: Aa1 by Moody’s and AA- by Standard & Poor’s and Fitch Ratings respectively. In Malaysia, UOB Malaysia receives AAA/Stable/P1 financial institution rating from RAM Ratings.

Over more than eight decades, generations of UOB employees have carried through the entrepreneurial spirit, the focus on long-term value creation and an unwavering commitment to do what is right for our customers and our colleagues.

We believe in being a responsible financial services provider and we are committed to making a difference in the lives of our stakeholders and in the communities in which we operate. Just as we are dedicated to helping our customers manage their finances wisely and to grow their businesses, UOB is steadfast in our support of social development, particularly in the areas of art, children and education.

For further information, please visit www.uob.com.my.

About The FinLab

The FinLab operates acceleration programmes focused on propelling the growth of innovative financial technology (FinTech) and technology companies and catalyses the digital transformation of businesses. Since its inception in 2015, The FinLab has run two acceleration cycles for FinTech companies chosen from more than 700 applications from 44 countries. The third cycle of The FinLab’s programme focused on helping SMEs on their digital transformation, including matching suitable and innovative FinTech and technology solutions with the needs of SMEs.

Appendix About The Programme Partners

Chinese Chamber of Commerce and Industry of Kuala Lumpur and Selangor (KLSCCCI)

Tan Sri Datuk Ter Leong Yap, President, The Chinese Chamber of Commerce and Industry of Kuala Lumpur and Selangor (KLSCCCI), said, “With a huge membership base of Malaysian businesses, we are keen and committed to support ground up efforts to help businesses to transform digitally. Our experience in supporting businesses has provided us with a comprehensive understanding of the challenges and opportunities businesses face. This knowledge, coupled with our experience in resolving the challenges faced by businesses, puts us in an ideal position to contribute to and be a part of the Business Transformation Programme.”

About KLSCCCI

The Chinese Chamber of Commerce and Industry of Kuala Lumpur and Selangor (KLSCCCI) is one of the Constituent Chambers of the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM). KLSCCCI which was founded on 27 March 1904, is one of the foremost institutions representing the Chinese business community in Kuala Lumpur and Selangor regions. It Is also one of the most active Chambers of Commerce in Malaysia. The various activities of the Chamber have attracted the attention of the government as well as of the private sector by virtue of the fact that the Chamber is strategically located in Kuala Lumpur which is the centre of Malaysian politics and economics.

Malaysian Association of Tour and Travel Agents (MATTA)

Nigel Wong, Honorary Secretary general, Malaysian Association of Tour and Travel Agents (MATTA), said, “As Malaysia’s tourism industry continues to grow from strength to strength, MATTA has supported and will continue to support efforts to help travel businesses succeed and remain relevant in the future. With a membership base of over 3,600 travel companies and organisations, MATTA is keen to support Malaysian businesses’ innovation and development in any way we can, in a bid to remain competitive in the global market. We are excited to work with like-minded partners in the community, like UOB Malaysia and The FinLab, to propel Malaysia’s tourism industry forward.”

About MATTA

MATTA is the leading and largest national travel Association in Malaysia with over 3600 members and growing comprising of local tour and travel agents as well as overseas affiliations. With a full time secretariat in Kuala Lumpur, its headquarters, MATTA has state chapters in Kuala Lumpur, Selangor, Melaka, Negeri Sembilan, Pahang, Terengganu, Kelantan, Johor, Penang, Perak, Kedah/Perlis, Sabah and Sarawak.

MATTA’s vision is to be the key driver of growth in the travel and tourism industry in Malaysia and to champion the tourism industry by creating valuable content of activities designed for members and the industry through promotions and overseas sales missions, training and education; and forging closer business ties with both regional and international markets.

www.matta.org.my

Maxis

Rob Sewell, Chief Digital & Transformation Officer, Maxis, said, ‘What sets Maxis apart are our converged offerings of innovative solutions that are built around an “Always On” proposition. For businesses of all sizes across key segments including retail, logistics, F&B, manufacturing and government, our goal is to help them succeed by simplifying and improving the way they work through our end-to-end solutions from mobile and fixed connectivity to eCommerce and IoT backed by our industry-leading network that ensures an unrestricted and worry-free experience which can be enjoyed “as a service”. We are delighted to be partnering UOB Malaysia and The FinLab for this fantastic initiative that amplifies our shared goal of helping Malaysian businesses win in the digital economy.”

About Maxis

We are the leading communications and Internet service provider in Malaysia, enabling 10 million individuals, families and businesses to do more in an Always On world. As our customers increasingly immerse themselves in an ever-expanding universe of connected applications, we are obsessed with providing an unmatched end-to-end internet experience bringing together advanced always on connectivity and always great tech care. Beyond connecting people with our services, we are passionate about leveraging new technologies to make a positive impact in the community in which we operate.

For more information, please visit: maxis.com.my

Malaysia Digital Economy Corporation (MDEC)

Norhisam bin Abdul Kadir, vice President of Growth and Ecosystem Development, Malaysia Digital Economy Corporation (MDEC), said, “With the advent of the Fourth Industrial Revolution, Malaysia is moving to the next level of economic growth, and we are seeing more businesses wanting to transform digitally. As businesses continue to embrace digitalisation, we look forward to work with supporting similar initiatives to help more Malaysian businesses future proof themselves in the digital age. We are excited to play a key role in the Business Transformation Programme by providing Malaysian businesses with expertise in their digital transformation journey.”

About MDEC

Malaysia Digital Economy Corporation or MDEC (formerly known as Multimedia Development Corporation Sdn. Bhd.), an agency incorporated 20 years ago under the Ministry of Communications and Multimedia Malaysia, spearheads the development of Malaysia’s Digital Economy. Its mission is centred on driving investments, building local tech champions, catalysing digital innovation ecosystems and propagating digital inclusivity.

MDEC is also responsible for ensuring that Malaysia continues to develop digital innovation and nurture local information, communications and technology (ICT) talent, while attracting participation from global ICT companies to invest and develop cutting edge digital and creative solutions in the country.

To know more about MDEC’s efforts and initiatives in driving Digital economy, please visit www.mdec.my. or follow us on Facebook at facebook.com/MyMDEC and Twitter at @mymdec

SME Corporation Malaysia (SME Corp. Malaysia)

Noor Azmi Mat Said, Chief Executive Officer, SME Corporation Malaysia (SME Corp. Malaysia), said, “SMEs are the key to strengthening Malaysia’s economy. At SME Corp. Malaysia, we are committed to carry out and coordinate SME development programmes in Malaysia to enhance wealth creation and social well-being of the nation. We work very closely with MDEC to carry out these policies. We welcome this collaboration between UOB Malaysia, The FinLab and partners like KLSCCCI, MATTA and Maxis to roll out a Business Transformation Programme to take SMEs in Malaysia to the next level. We are excited to garner insights from this programme to help us better design policies for SMEs in Malaysia.”

About SME Corp. Malaysia

SME Corp. Malaysia is the Central Coordinating Agency under the Ministry of Entrepreneur Development (MED) that coordinates the implementation of SME Development Programmes across all related Ministries and Agencies. It acts as the central point of reference for research and data dissemination on SMEs, as well as, provides advisory services for SMEs in Malaysia. SME Corp. Malaysia also assumes the role of the Secretariat to the National Entrepreneur and SME Development Council (NESDC) which is chaired by YAB prime minister of Malaysia.

[1] “Jom” is a colloquial term for ‘Let’s go’ in Bahasa Malaysia.

[2] Industry experts refer to technology solution providers and the strategic partners under the Jom Transform Programme.

 


Category: Malaysia

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