UOB Malaysia has partnered with Dropee to help retailers and wholesalers digitalize and optimize their businesses while saving operational costs.
Under the collaboration, the Bank has launched UOBxDropee, an exclusive package offering one-stop access to a range of financial solutions that cover cash management and trade finance as well as complimentary access to UOB Business Internet Banking Plus.
With Dropee, UOB Malaysia’s wholesale banking clients will also get a 20 percent discount on the monthly subscription fee when they sign up for Dropee’s online trading solution. The solution will enable them to buy supplies and to sell their products online more conveniently.
The solutions will enable Dropee customers to manage their receivables and payables in a more efficient manner, thereby managing their financial accounting with greater certainty.
UOBxDropee offers fee waivers for real-time gross settlement systems via UOB BIBPlus that include Interbank GIRO, Real-Time Electronic Transfer of Funds and Securities and foreign telegraphic transfers. Businesses will also enjoy preferred rates for fees and charges for UOB Malaysia’s trade finance solutions. These benefits will enable them to achieve greater cost-efficiencies.
Ms Ng Wei Wei, Managing Director and Head of Wholesale Banking, UOB Malaysia, said the collaboration with Dropee underscores the Bank’s commitment to help companies accelerate their digitalisation journey amid the current business environment.
“The COVID-19 containment measures have prompted more consumers to shop online and this in turn has compelled businesses to go digital sooner rather than later. We are excited to work with Dropee to fast-track companies’ transition from the traditional brick-and-mortar to online channels. The collaboration demonstrates our focus on providing the right financial solutions and connecting our clients to the relevant products and services our ecosystem partners have to offer. It also reflects our transaction banking capabilities in delivering real value to our clients, especially amid a challenging business environment.”
Ms Lennise Ng, Chief Executive Officer and Co-founder of Dropee, said the company strives to help businesses go digital as seamlessly as possible.
“The COVID-19 pandemic has brought significant disruption to many Malaysian businesses, especially the retail SMEs. With this partnership, Dropee aims to help businesses navigate these difficult times by extending their cash flow to keep them afloat. We continue to support our local businesses for they are the backbone of our nation’s economy.”
A good and thoughtful post, lets have more like this please!