The digital solution provides greater certainty and transparency in cross-border payments, as well as on-the-go convenience for clients
 
KUALA LUMPUR, Malaysia, Aug 10 (Bernama) -- Corporate clients of UOB Malaysia can look forward to managing their banking needs in a simpler and more personalised manner now.
 
UOB Infinity offers a customisable online dashboard that lets clients prioritise and visually display information that is most important to them. Corporate clients will be able to see the state of their company’s finances, including that of their overseas markets, all at a glance.
 
On the digital platform, clients can manage a range of domestic and cross-border banking activities, from checking their UOB accounts across various markets to making local and international payments, without needing to log into multiple platforms.
 
For clients on the go, UOB Infinity is also downloadable as a mobile app. Its biometric login via a soft token enables faster access and simplified transaction authorisation while ensuring security. The mobile app’s soft token comes with multi-factor authentication for company to approve and clear transactions.
 
Ms Ng Wei Wei, Chief Executive Officer, UOB Malaysia, said, “Today’s launch of UOB Infinity is yet another proof point of UOB Malaysia’s commitment to help corporates adapt to the new realities of the digital economy. By leveraging insights from our clients, we have developed UOB Infinity to address the diverse needs of corporates including their trade requirements and the ability to keep track of their company in real-time across the markets where they operate. Our goal is to help our clients improve their operational efficiency and make better business decisions through digitalisation, while supporting them to seize opportunities regionally through the Bank’s connectivity.”
 
Greater certainty and transparency when making cross-border payments
UOB Infinity also addresses the lack of real-time tracking for cross-border payments for corporate clients. The digital solution provides businesses with a real-time notification through SMS or email when their payment has been successfully credited into the beneficiary’s account, saving them the hassle of manually checking on the status of the transaction.
 
Clients will also be informed of the charges for the cross-border transaction, including those from the intermediary bank. This feature provides businesses greater transparency on the costs incurred for the transaction. It helps prevent instances where there is a dispute in the final amount received by the beneficiary due to the charges involved.
 
Mr Lucas Chew, Country Head of Transaction Banking, UOB Malaysia said, “With UOB Infinity, our corporate clients will be able to manage their banking in a simpler, smarter and personalised manner through the user-friendly interface and a breadth of new functionalities. Corporates will also be able to manage their cash flow more efficiently with real-time visibility of account information across various markets and online access to a range of domestic and cross-border banking transactions. Beyond the convenience, we have also ensured that their transactions can be conducted securely with our Infinity Secure digital token.”
 
Mobile app with a comprehensive range of payment functionalities
Amid the increased use of electronic payments for business transactions, the UOB Infinity app enables corporate clients to manage all their payment needs efficiently through mobile devices.
 
Clients can make a wide range of payments – from local bill payments to domestic and cross-border fund transfers. The app supports services such as Interbank GIRO, DuitNow, JomPAY, the Real-Time Electronic Transfer of Funds and Securities System (RENTAS) and telegraphic transfers.
 
UOB has been supporting its customers in their drive towards adopting digital payments and collections. In the first half of 2022, UOB Malaysia saw the number of DuitNow corporate transactions increase by more than five times as compared with the same period a year ago. To further drive the adoption of contactless collections, clients can also generate a QR code through UOB Infinity to ask for DuitNow payments from their buyers.

The UOB Infinity mobile app can be downloaded from Google Play and the Apple App store. Clients can also set up their biometric login to access the mobile app more conveniently. Users of UOB Malaysia’s existing business internet banking platform, UOB BIBPlus, can log in to UOB Infinity with the same credentials.
 
For more information about UOB Infinity, please visit: www.uob.com.my/infinity.

About UOB Malaysia
 
United Overseas Bank (Malaysia) Bhd (UOB Malaysia) was incorporated in 1993 but has had presence in Malaysia since 1951. Today, UOB Malaysia is the largest foreign bank operating in Malaysia by total assets, loans and deposits and has 45 branches across the country offering both conventional and Islamic banking services. It offers an extensive range of financial products and services through its branches and subsidiaries such as corporate and commercial lending, investment banking, treasury services, trade services, cash management, custody services, home loans, credit cards, wealth management, and bancassurance products.
 
UOB Malaysia is rated among the top banks in Malaysia with a long term AAA rating from Ratings Agency of Malaysia. Guided by our rich heritage and values, we have built lasting relationships with our customers and continue to ensure we act in their best interest by delivering solution s that meet their financial goals and suit their lifestyles and preferences.
 
UOB Malaysia is a subsidiary of UOB, a leading bank in Asia with a global network of around 500 offices in 19 countries and territories in Asia Pacific, Europe and North America. 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.
 
UOB believes in being a responsible financial services provider and is committed to making a difference in the lives of its stakeholders and in the communities in which it operates. Just as it is dedicated to helping its customers manage their finances wisely and to grow their businesses, UOB is steadfast in its support of social development, particularly in the areas of art, children and education.
 
For further information, please visit www.uob.com.my.