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UOB's mobile-only bank tests data as TMRW's currency

It is targeting millennials as it faces up to upstarts that want to eat the lunch of traditional banks

Published Tue, Feb 19, 2019 · 09:50 PM

UOB's mobile-only bank TMRW for millennials offers a new way to test how data can become a new currency for incumbent banks in this region.

To recap, UOB earlier this month launched its mobile-only bank aimed at millennials in Thailand - the first of several markets in Asean where it will test this digital bank concept.

UOB's latest banking service TMRW - an abbreviation of tomorrow - allows a bank with 80-odd years of history to break away from its legacy hardware system, and find better ways to mine transactional data.

This challenge in using data may be se…