UOB Vietnam launches supply chain platform

UOB Vietnam has introduced a new chapter in digital banking by launching its Financial Supply Chain Management (FSCM) capabilities on UOB Infinity, its digital platform tailored for businesses. This development enables companies to handle the full supply chain lifecycle — from procurement and production to invoicing and collections — within a single, integrated digital environment.

The rollout is a direct response to growing demand for strategic supply chain solutions, highlighted in the 2024 UOB Business Outlook Study. The study revealed that 94 per cent of Vietnamese businesses recognize the importance of supply chain management — a higher awareness rate than in other ASEAN countries. Many of these businesses are actively seeking improved access to digital tools, partnerships with tech providers, and better financing options to bolster supply chain stability.

This growing emphasis on supply chain resilience is not isolated to Vietnam. Across the ASEAN region, including markets like Indonesia, Malaysia, Singapore, and Thailand, 90 per cent of businesses echoed the sentiment, acknowledging supply chain management as crucial to their operations. In light of this, digital platforms have become increasingly central to supply chain strategies.

The FSCM feature on UOB Infinity has already been deployed in Singapore, Malaysia, Indonesia, Thailand, mainland China, and Hong Kong. Vietnam’s inclusion in this roster now completes the bank’s rollout across all major markets in ASEAN and Greater China, strengthening its position as a regional leader in supply chain finance.

The results of this expansion have been significant. UOB reported a 150 per cent year-on-year increase in anchor clients and a 430 per cent rise in onboarded spokes—indicators of growing adoption. This surge has been accompanied by a tenfold increase in digital trade invoices and a 33 per cent boost in trade finance activity.

Key features of the system include real-time transaction tracking, automated invoice processing, simplified reconciliation, and custom risk management options. By digitising these processes, UOB is helping businesses reduce manual workload, enhance financial oversight, and build more inclusive and resilient supply chains.

Pham Van Khanh, Head of Transaction Banking at UOB Vietnam, noted that the country continues to attract companies aiming to diversify and fortify their supply chain networks. He emphasized that as these companies scale their operations, UOB’s digital tools will help them manage working capital more effectively, improve cash flow, and mitigate risks across their supply chains. The launch in Vietnam, he suggested, reflects UOB’s broader mission to enhance ASEAN connectivity and position itself as the leading cross-border trade bank in the region.

The integrated FSCM capabilities on UOB Infinity now allow corporate clients in Vietnam to manage cash, trade, and supply chain finance with a unified login, improving operational efficiency and visibility. They can digitally collaborate with suppliers, buyers, and distributors within Vietnam and across ASEAN and Greater China. Tasks such as submitting trade documents and initiating financing requests—whether pre- or post-shipment, or for distributor or receivables financing—are now streamlined through the platform.