UOB bank
ASEAN’s first mobile-only bank was also recognised for its leadership in service innovation and customer engagement capabilities
TMRW by UOB, ASEAN’s first mobile-only bank for the region’s digital generation, continues to set the standard for digital banks in the region with its recent recognition by Global Finance[1] as the best consumer digital bank in Thailand. This latest recognition adds to TMRW’s seven other award wins this year alone.
As testament to the TMRW’s unique customer engagement-focused business model, the mobile-only bank continues to be recognised for its continual innovation in digital customer service and customer engagement.
In June 2020, TMRW won Best Digital Bank for Customer Experience, Outstanding Chatbot Customer Experience and Outstanding Leadership in Customer Experience at the Digital CX Summit & Awards 2020 by The Digital Banker. Two months later, in August, TMRW was named Best Innovative Digital Bank and Best Customer Experience Digital Bank by International Finance. In September, TMRW won Gold award for Best Customer Experience and Silver award for Best Brand Experience by CX Asia.
Natee Srirussamee, Head of Retail Digital, UOB (Thai), said, “Our focus from day one, as we designed TMRW from scratch, has always been on ensuring the customer experience is simple, transparent and engaging. Pushing the boundaries of TMRW is what underpins our data-driven innovation, such as using next-generation technologies to provide a hyper-personalised experience for every TMRW customer. We are honoured that our efforts in last two years of operation continue to be recognised by the industry. We will continue to keep our foot on the accelerator to create more customer-centric digital products and services to ASEAN’s digital generation.”
TMRW’s business model driven by customer engagement
TMRW was designed such that every feature, product and service within the mobile-only bank aims to deepen the customer engagement with every interaction. As more customers engage and are satisfied with the TMRW experience, they are also recommending the bank to their family and friends. This has enabled TMRW to scale organically.
As at April 2020, TMRW has achieved the third highest net promoter score (NPS) among all banks in Thailand and is ranked number one in terms of NPS for credit cards. Based on a survey that we conduct on a monthly basis, more than two-thirds of the digital bank's new customers also come from the referrals of happy TMRW customers.
Growing its customer engagement capabilities
TMRW was built to be nimble and to tap technologies such as Artificial Intelligence (AI) so that the banking experience is increasingly personalised. For example, TMRW is also the first bank in Thailand to have a AI-driven chatbot built with Natural Language Processing (NLP) capabilities in the Thai language. TMRW’s chatbot, TIA (TMRW Intelligent Assistant) learns with every conversation with the customer and is able to understand better the nuances of the Thai language over time to serve customers more effectively.
TMRW is also the first bank in Thailand to have an integrated chatbot, live chat and Voice over Internet Protocol (VoIP) model. This means that customers can speak with a live agent for more complex queries without having to leave the TMRW app. The ability to hold voice calls through the app, similar to leading messaging platforms, is also a first-in-country feature by a bank.
Pushing for predictive products and services in the future
Since its launch in March 2019, TMRW has continued to push for simpler, smarter and more personalised banking experience. Through constant learning, analysing and listening to customer feedback, TMRW’s AI-driven model learns how it can enhance the way in which it serves customers by anticipating their needs. For example, TMRW learns from the way in which each customer usually interact with the app to personalise the app interface such that their frequently used features are only a single click from the homepage.
As a data-driven digital bank, TMRW makes use of transaction data, behavioural insights and third-party digital technology integration to enhance personalised offers and introduce relevant financial products, based on customers’ behaviour history, psychographic and purchase preferences. For example, the mobile-only bank has been running a beta test on Thailand’s first real-time expense tracking capability by a bank. The feature, which enables customers to set their monthly spending limits and to track their credit and debit card spend in real time, has received positive feedback from beta users in helping them stay disciplined to their budgets.
TMRW was recently launched in its second ASEAN market of Indonesia in August 2020.
In Thailand, TMRW is available on Google Play Store and Apple App Store.
[1] Global Finance is a leading financial publication based in New York with a 33-year legacy of experience in international financial markets.
For media queries, please contact:
Orawee Wiriyathananon
Strategic Communications and Brand
Email : Orawee.wir@uob.co.th
Tel: +66(0)2343 4040; Mobile: +66(0)81 914 6121