StarHub and United Overseas Bank Limited (UOB) have partnered to provide digital solutions to small and medium enterprises (SMEs) to help accelerate digitalisation efforts. This will see the formation of a digital marketplace which will go live in October this year.
The collaboration looks to help SMEs and new companies thrive in the digital economy, and is in line with the government’s SMEs Go Digital initiative, a statement read.
Through the partnership, UOB will join StarHub’s digital marketplace for SMEs, which aims to bring together different product and service providers across industries. This is in a bid to create an ecosystem which enables SMEs to transform their business models and go-to-market strategies. It will also offer SMEs access to a comprehensive range of digital solutions that SMEs will need to automate and to streamline their business operations.
Both companies will also explore the provision of real-time transaction insights for SMEs to understand better their customers’ needs and preferences, the statement added. This means working together to aid in an SME’s digital transformation through the adoption of technology such as artificial intelligence.
Other solutions available on the marketplace includes “as-a-service” solutions such as footfall-as-a-service, digital location marketing-as-a-sevice, customer loyalty-as-a-service, training-as-a-service and employee engagement-as-a-service.
“Combining our established network of clients and partners, we will be able to create a digital economy of buyers and suppliers of solutions and services to spur a thriving SME sector. Such an intimate level of connection and collaboration enables all of us to break industry silos and to create new value through better connectivity and insights,” Chong Yoke Sin, chief of Enterprise Business Group, StarHub, said.
“By partnering StarHub and participating in its digital ecosystem, we will be able to help more of our SME customers connect with a broader set specialised solutions and expertise they need to seize opportunities and overcome business challenges,” Frederick Chin, head of group wholesale banking, UOB, added.