UOB gives SMEs the digital leg-up in Shopmatic partnership

Small firms can now build customised websites within 15 minutes.

United Overseas Bank (UOB) has integrated the digital solutions of e-commerce firm Shopmatic into its suite of cloud-based business solutions, UOB BizSmart, to help small businesses set up strong digital profiles within 15 minutes.

Through the tie-up, small businesses can reduce the time it takes to set up customised e-commerce websites from an average of one month and create new online revenue streams without the technical know-how in coding, online payments and user experience design. The scheme will also allow micro-businesses to choose from more than 60 design templates to create their website and enable multiple payment options as well as delivery services.

Sales data generated on Shopmatic will also aid small businesses that may not have the track record required for bank financing to apply for UOB business loans. The bank will use the insights generated from the sales data alongside other more traditional data sets to determine the business’ creditworthiness more accurately.

In addition to setting up their own e-commerce website, small businesses can also leverage on Shopmatic to expand their sales channels as its feature enables small businesses to list their products and services on multiple marketplaces and social channels such as Amazon, Lazada, Qoo10 and Facebook.. Shopmatic will also showcase the business’ products and services on its Shopmatic World platform.

“Orders from the different marketplaces are integrated into Shopmatic’s platform, enabling businesses to manage sales and delivery centrally using a single dashboard,” the bank said.