United Overseas Bank has been named the World’s Best Bank for SMEs at the Euromoney Global Awards for Excellence 2021 based on its deep regional connectivity, expertise and continued support of SMEs to enable post-pandemic recovery and growth. The latest win follows from other key SME awards the bank has won including the Best SME Bank in Singapore and Asia Pacific at The Asian Banker’s Excellence in Retail Financial Services International Awards in June this year.
Recognising the increasing importance of digitalisation in building a sustainable business, a need accelerated by the COVID-19 pandemic, UOB has enabled more SMEs to use digital payments. For example, UOB extended PayNow Corporate contactless payments, which provide convenience to both consumers and merchants, to SMEs. The number of transactions made through PayNow Corporate among UOB’s SME customers grew more than 50 times in the first quarter of 2021 compared with the same period in 2019.
