ASEAN region boasts of approximately 96% mobile phone penetration rate with a density of 967 per 1,000 regional residents, and 66% of which are smartphone use, according to a paper published by PwC. Separately, 60% of the ASEAN population are under 35 years old and are highly-connected, mobile-first consumers who do most things on smartphones. UOB designed its first fully digital bank TMRW to serve the region’s digital generation. Unlike other banking apps, TMRW’s interface operates similar to a “feed”.
ATGIE—which stands for Acquire, Transact, generate data, Insights, and Engage—which focuses on customer engagement as the primary goal. digital bank business model lowers the cost of acquisition and enables us to scale in Thailand and Indonesia as well as regionally as we expand to other ASEAN markets. Unit uses the latest tech and behavioral insights to deepen customer engagement. It adopts a test and learn approach to ensure every digital conversation with a customer is relevant, familiar and engaging to them is easy to understand. Thailand’s digital generation also appreciates relevant guidance to help them keep track of and manage their finances better, and they respond better to prompts that are fun and do not make them feel guilty. With that in mind, we designed a money management game to help TMRW customers in Thailand meet their savings goals in fun-sized, achievable steps. The game encourages customers to level up as they save more money. TMRW launched in Thailand last year and, most recently, Indonesia. By testing with and learning from our Thai customers what features work and what does not, we are able to enhance the app to meet the highest benchmarks of digital service and experience and to incorporate learnings from Thailand for our second market, Indonesia. We are also expanding our ecosystem of partners in areas that are relevant to our customers’ lifestyle priorities such as dining, shopping, lifestyle and entertainment.