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Economy in brief: UOB launches BIBPlus to ease transactions
Private lender UOB Indonesia, owned by Singaporean banking giant UOB, introduced Tuesday an enhanced internet banking system for cash management and trade finance services to help its corporate clients simplify banking transaction processes
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rivate lender UOB Indonesia, owned by Singaporean banking giant UOB, introduced Tuesday an enhanced internet banking system for cash management and trade finance services to help its corporate clients simplify banking transaction processes.
The online service called Business Internet Banking Plus (BIBPlus) enables companies to have an end-to-end view of their cash flow and trade positions across geographies in real-time, UOB Indonesia's head of transaction banking, Wong Kartyono said. 'UOB BIBPlus is designed to allow companies to have better control and management of their working capital as they expand domestically and across the region,' he said, adding that the service was also designed to help its customers with operations across multiple locations to move funds seamlessly from one region to another in a short time.
In 2015, UOB Indonesia's cash management revenues grew 30 percent year-on-year. The bank expected a higher growth this year with the launch of this online service in Indonesia, it said.
Private lender UOB Indonesia, owned by Singaporean banking giant UOB, introduced Tuesday an enhanced internet banking system for cash management and trade finance services to help its corporate clients simplify banking transaction processes.
The online service called Business Internet Banking Plus (BIBPlus) enables companies to have an end-to-end view of their cash flow and trade positions across geographies in real-time, UOB Indonesia's head of transaction banking, Wong Kartyono said. 'UOB BIBPlus is designed to allow companies to have better control and management of their working capital as they expand domestically and across the region,' he said, adding that the service was also designed to help its customers with operations across multiple locations to move funds seamlessly from one region to another in a short time.
In 2015, UOB Indonesia's cash management revenues grew 30 percent year-on-year. The bank expected a higher growth this year with the launch of this online service in Indonesia, it said.
The online service called Business Internet Banking Plus (BIBPlus) enables companies to have an end-to-end view of their cash flow and trade positions across geographies in real-time, UOB Indonesia's head of transaction banking, Wong Kartyono said. 'UOB BIBPlus is designed to allow companies to have better control and management of their working capital as they expand domestically and across the region,' he said, adding that the service was also designed to help its customers with operations across multiple locations to move funds seamlessly from one region to another in a short time.
In 2015, UOB Indonesia's cash management revenues grew 30 percent year-on-year. The bank expected a higher growth this year with the launch of this online service in Indonesia, it said.
