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UOB speeds ahead on cross-border payment

The bank has tested fund transfers between Singapore and Thailand using mobile numbers and looks to repeat this in the region.

"What we started to see from an infrastructure point of view is that for the bank, with every different regulator coming out with requirements, we could have a proliferation of multiple gateways (and) multiple technologies ...," said Mr Greenaway.


THE race to send payments across borders in Asia is coming down to a blink of an eye and UOB has quietly worked behind the scenes to soup up regional fund transfers at a lower cost, a top executive at the bank said.

At the end of last year, UOB made public Asean's first...