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uab bank announces Strategic Partnership with Kashtec International to Launch Industry-First Solution for SMEs and Corporate Supply-Chain Finance in Myanmar

 
 

 

Yangon, 9th February 2020 – uab bank, Myanmar’s Best Bank by Euromoney, and Kashtec International, a Singapore headquartered Fintech company today announced that they have entered into a strategic partnership to launch an industry-first solution in Myanmar.

This agreement will enable uab bank and Kashtec to build on each other’s expertise to develop nextgeneration financial solution to serve SMEs and Corporate supply chains. Financing to SMEs within the supply chain will be provided by uab bank and this initiative will fuel further economic growth in Myanmar.

The announcement was made at uab Tower @ Times City, at the grand opening of uab bank’s new head office in Yangon. SME and Corporate customers of uab bank will benefit from the partnership as it will provide them with increased access to sustainable financial solutions as well as increased sales and marketing opportunities.

Christopher Loh, Managing Director and Chief Executive Officer of uab bank said, “We have made significant strides at uab bank to modernise and digitalise, and the benefits for our customers are tangible. With this strategic partnership, we will accelerate the delivery of inclusive and simplified solutions for our customers with the latest technology and business solutions. I look forward to announcing many more such initiatives for our customers in the future.”

George Lee, Group Chief Executive Officer of Kashtec International, added, “We are delighted to bring our experience in technology and business solutions serving over 20,000 SME and Corporate customers globally in support of uab bank. Having worked with many other banks globally it is a pleasure to partner with a bank that is not only leading the way in Myanmar but also establishing itself as a benchmark for innovation and excellence by any global measure.”

 About Kashtec International Pte Ltd (KIPL)

Kashtec International is a company headquartered in Singapore that provides and operates technology and business solutions for B2B communities, corporate supply chains, and financial institutions. Through the development of innovative business solutions, Kashtec International now serves 20,000 SME and Corporate customers globally through its offices and partners and was a Fintech Award Finalist at the Singapore Fintech Festival 2019.

About uab bank

uab bank is a leading bank in Myanmar. Established in 2010, uab bank serves customers from a growing network of over 78 branches in 47 townships across Myanmar. uab provides a wide range of financial services including consumer banking, premier banking, SME banking, corporate banking, trade finance and treasury services.Through our subsidiary, uab securities, we also provide brokerage services, corporate and financial advisory, investment banking and capital market activities.

Recognised for its successful transformation and leadership in the Myanmar banking sector amidst the regulatory changes and governance requirements, uab bank was named 'Myanmar's Best Bank' by Euromoney, 'Mid-sized Domestic Retail Bank of the Year' by Asian Banking & Finance, and was ranked No.1 in Corporate Governance Disclosure by TiME Pwint Thit Sa Report published by the Myanmar Centre for Responsible Business.

At uab bank, we believe in leading the way towards a better Myanmar, humanising banking, connecting people, creating opportunities and changing lives. In December 2017, uab launched "Be The Change Myanmar" initiative that represents our commitment to driving change for a better Myanmar, specifically focusing on empowering women and children. We believe uab must operate responsibly and be committed to the community we are in.

For more information, please visit our website: https://www.uab.com.mm

Media Contacts: Kashtec International Pte Ltd (KIPL) George Lee info@kashtec.com uab bank

Crystal saungoonwe@uab.com.mm

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