UOB Thailand clinches Thailand Technology Excellence Awards 2024 for advisory solution

The NBS Advisory solution addresses shifting consumer behaviour, which has become increasingly complex and unpredictable.

Banking company UOB Thailand took home the Thailand Technology Excellence Award in the Analytics - Banking category for its Seamless Next-Best-Solution (NBS) Advisory that harnesses technologies, centralised data platforms, and analytical models to transform the branch’s operating model and to deliver solutions that align with customers’ needs.

The NBS Advisory solution is a hybrid intelligence strategy that combines human expertise and technology by equipping frontline staff with integrated tools and actionable insights, creating a best-in-class omnichannel experience that seamlessly fits into customers' lifestyles.

UOB Thailand analyses data through the NBS model to identify the best solutions, which are then recommended by the branch staff. This ensures customers receive valuable, personalised advice through efficient tools and dashboards. The NBS Advisory uses both targeted group data and individualised information, including behaviours and interests, to tailor solutions to each customer's specific needs.

Moreover, it integrates various tools to provide need-based and rapid services through hybrid online-offline-online solutions. The company uses data analytics-driven online marketing to customise offerings based on customer profiles and interests.

When customers show interest online, this information is automatically relayed to branch staff via the Smart Referral Platform, allowing for quick responses to customer needs. In the branches, customers receive personalised solutions through the Smart CRM, which consolidates customer profiles, product holdings, and transaction history on a single screen with individually analysed next-best solutions.

The Smart CRM and the Smart Referral Platform solutions are interconnected, enabling branch staff to seamlessly refer customers to specialists with pre-filled data and pre-screened qualifications, reducing errors and saving time. The integration of the back-end database with the latter also allows for application process tracking.

Through the NBS Advisory, UOB Thailand experienced financial benefits, with deposit and lending balance increasing 16% and 2% YoY, respectively. Whilst, the number of business referrals for insurance, investment, and loan significantly growing by 15% YoY. It has also seen an employee engagement of 96%, attributed to the initiatives' ability to reduce workload burdens on branch staff.

The company’s Net Promoter Score has also grown by 8.1% YoY, reaching an impressive score of 71.6%. This rate is maintained with the solution undergoing continuous monitoring and development to ensure increasingly effective, efficient, and accurate outcomes.

The Asian Technology Excellence Awards, now in its fourth year, celebrates top technological innovators and solutions that are redefining industries and leading the charge in digital transformation.

The Asian Technology Excellence Awards is presented by Asian Business Review. To view the full list of winners, click here. If you want to join the 2025 awards programme and be acclaimed for your company's outstanding retail initiatives, please contact Jane Patiag at [email protected].