When Lee joined UOB in July, he restructured the innovation group and had the different teams work together to create more synergies as opposed to working on silo strategies for artificial intelligence (AI), data and blockchain, as they previously did.
United Overseas Bank’s (UOB) approach to technology is the same as its overall philosophy — a “careful” one. Instead of striving to be the leader in implementing new features, the bank prefers to be a “fast follower”.
“We are always a very careful bank. So I would say that the strategy is to learn as fast as we can from other industry players as well, especially international banks,” says Lee Zhu Kuang, group head of innovation at UOB. “So I would say, most of the time, we are a fast follower.”
