, Singapore
151 view s

UOB opens first 'non-traditional' branch for millennial customers

The new branch has more self-service machines and a QR code wall.

United Overseas Bank (UOB) announced the opening of a 'non-traditional' branch in Tampines with a new branch concept to offer its millennial customers relevant financial solutions and services.

The bank used Design Thinking to enhance the banking experience for these customers, who are typically more digitally-savvy. Design Thinking is a strategy-making process based on data and evidence to create solutions that meet customers’ changing needs and to improve the customer experience.

UOB head of group channels and digitalisation Janet Young said, "We know that UOB’s millennial customers prefer to bank through digital channels or by using self-service machines. Our data shows that when they visit a branch, it is more likely to be for services such as financial advisory. Taking the preference in branch for personalised financial advisory as an example, we reconfigured the branch layout, did away with traditional teller counters and focused on created spaces for our customers to hold private conversations about their financial aspirations."

In keeping with the digital-first approach of millennial customers, a new feature of the branch is a QR code wall where customers can use their smartphones to scan a QR code to be directed to information that interests them. The bank has also set up five self-service machines in the branch lobby which are accessible at any time of the day.

As part of UOB’s Design Thinking approach to create a banking experience customised to the lifestyle of millennial customers, the bank has also tied up with a local ice cream parlour and café to operate an outlet at the adjoining retail space.
 

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!