Customise Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorised as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyse the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customised advertisements based on the pages you visited previously and to analyse the effectiveness of the ad campaigns.

No cookies to display.

Search
Close this search box.

UOB to Contribute S$500 Million for Global Tech and Innovation Hub

In Singapore’s Punggol Digital District (PDD), UOB will invest S$500 million to create a new global technology and innovation centre.

As a result of the commitment, UOB, which is currently the largest commercial investor in PDD, is the first local bank to establish a presence in Singapore’s first smart and sustainable business district.

The 300,000 square foot facility, which is expected to be finished by the end of 2026, will house about 3,000 employees working in technology, innovation, and digital roles. In keeping with the district’s commitment to sustainability, the new centre will provide high-performance workspaces and be equipped with energy-saving features.

In order to double the number of retail customers it serves digitally to more than seven million customers throughout Asean by 2026, UOB announced plans to invest up to $500 million in digital innovation initiatives in 2021. This required the combination of its mobile app UOB Mighty’s scale and product depth with its Thailand-based digital bank TMRW on a single platform. It now asserts that it is the only bank in Singapore to have standardised its Asean-wide regional technology platform.

UOB and the Singapore Institute of Technology (SIT) have signed a memorandum of understanding (MOU) to establish a fintech innovation lab as part of the new investment programme. This collaborative lab, which will be located on SIT’s future Punggol campus, will enable SIT academic staff, UOB students, and employees of UOB to engage in fintech innovation, training, and development projects.

In order to promote closer collaborations with tech partners, start-ups, and small- and medium-sized enterprises (SMEs), the bank will also house its innovation accelerator, The FinLab, at PDD. Since its launch in 2015, the FinLab has assisted more than 20,000 businesses.

Share With
Contact Us
StatCounter - Free Web Tracker and Counter