United Overseas Bank (UOB) has collaborated with Accenture to enable the application of advanced technologies, including generative artificial intelligence (GenAI) and agentic AI, in the upcoming three years.
The companies entered a memorandum of understanding (MoU) in this regard, marking the first partnership of its kind between Accenture and a bank in Singapore.
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The bank will utilise Accenture’s AI-driven offering, including the AI Refinery platform, to expedite its GenAI implementation.
The primary objective is to integrate these AI solutions throughout the bank to improve business operations, enhance productivity, tailor customer experience at scale, and tackle risks.
Additionally, UOB is prioritising the upskilling and retraining of its workforce to maximise the benefits of these advanced technologies.
UOB deputy chairman and CEO Wee Ee Cheong said: “We are excited about the immense potential that advanced technologies offer.
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By GlobalData“Our goal is to leverage AI solutions to transform our operations, enhance productivity, and deliver personalised customer experiences with scale and speed across our extensive network in ASEAN.”
Employees will also benefit from Accenture’s LearnVantage training services, which will provide access to development programmes aimed at improving customer engagement.
Accenture chair and CEO Julie Sweet said: “We are proud to partner with UOB to help them realise their vision for the future of banking by scaling generative and agentic AI at speed, and by helping their people develop valuable advanced technology skills.
“Together, we will create more engaging experiences for UOB customers and drive new levels of efficiency, value and growth.”
UOB, with its headquarters in Singapore, has subsidiaries in China, Indonesia, Malaysia, Thailand, and Vietnam.
The bank maintains a global presence with over 470 branches and offices across 19 markets in the Asia Pacific, Europe, and North America.
In February this year, Australian banking group Westpac partnered with Accenture to improve its digital banking services using AI-powered agents.
