Singapore's StarHub has signed a memorandum of understanding with United Overseas Bank (UOB) to jointly develop and offer solutions aimed at helping SMEs accelerate their digitalization.
Under the collaboration, UOB will be the first organization from the financial services industry to join StarHub's upcoming digital marketplace for SMEs.
This marketplace is due to launch in October. It will be designed to collate the offerings of product and service providers from various industries to create an ecosystem to enable SMEs to transition to digital business models.
StarHub and its partners will offer a range of as-a-service solutions over the marketplace, including footfall-as-a-service, digital location marketing-as-a-sevice, customer loyalty-as-a-service, training-as-a-service and employee engagement-as-a-service.
“StarHub and UOB believe our joint capabilities and efforts can help our SME customers better navigate in the data-driven global economy,” commented Dr Chong Yoke Sin, chief of StarHub's Enterprise Business Group.
“Combining our established network of clients and partners, we will be able to create a digital economy of buyers and suppliers of solutions and services to spur a thriving SME sector. Such an intimate level of connection and collaboration enables all of us to break industry silos and to create new value through better connectivity and insights.”