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UOB sets sights on being No. 1 in cross-border trade needs in Asean

Tay Peck Gek
Published Sun, Sep 18, 2022 · 04:30 PM

FREDERICK Chin, head of group wholesale and global markets at United Overseas Bank (UOB) : U11 0%is not afraid of competition from upstart digital financial platforms.

The 61-year-old banker told The Business Times that UOB has been approached by many platform operators about potential partnerships.

“They don’t have clients. They can’t commercialise because people don’t trust money with them. That’s why they keep approaching the bank (to ask): ‘Why don’t you partner with me?’” Chin said.

He is in no hurry to say yes.

“We are building a platform; we don’t need to partner,” Chin said.

UOB is investing about S$500 million to build regional platforms for cash management, supply chain management and payments, as it aims to be the No 1 bank fo…

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