UOB launches its first digital bank in Thailand

‘TMRW’ does not have a traditional app menu as it claims to learn a user’s preference over time.

UOB has chosen Thailand as the location for its first ASEAN digital bank which it calls TMRW as it bids to scale up its regional customer base by as much as five million over the next five years.

Built from scratch, TMRW aims to cater to ASEAN’s rapidly growing mobile economy who form the third largest base of digital-savvy consumers after China and India.

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Unlike most banking apps, TMRW does not have a traditional app menu as the bank learns every time it is used and brings upfront functions and personalised information to the user.

Customers can also text a virtual chat assistant through the app and utilise a call function within its digital chat service so that they can engage in conversation with the bank without having to exit or toggle away from the app.

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“What this means is that TMRW will not be a static one-size-fits-all app, but a digital bank that will continue to learn to create increasingly simple, transparent and engaging experiences for TMRW’s customers in each of our ASEAN countries,” Dr Dennis Khoo, Head of Group Retail Digital, UOB said in a statement.

UOB will progressively launch TMRW across other ASEAN markets over the coming months. The move comes as a result of the bank’s heightened IT investments which include those incubated in its eLab, a dedicated unit focused on using technology and behavioural insights to deepen customer engagement.