UOB Indonesia launched its Wealth Banking service to provide clients with a complete portfolio management solution. (Photo courtesy of UOB Indonesia)
UOB Indonesia Provides Investment Savvy for Indonesia's Growing Middle Class
APRIL 10, 2019
Jakarta. Lender UOB Indonesia launched its Wealth Banking service on March 28 to provide its clients with a complete portfolio management solution, as well as financial consultations based on a "smart-risk" approach.
This approach provides investment advice that weighs the risks versus rewards before investing.
The company said in a press release that the smart-risk approach reflects UOB Indonesia's commitment to help customers face a dynamic market cycle with smart decision making and provides solutions and advice tailored to customers' needs.
The Wealth Banking service is targeted at middle-class customers with savings between Rp 100 million and Rp 1 billion ($7,000-$70,000) at UOB. As of 2018, around 60 million people, or 23 percent of the Indonesian population, are in the middle class or above.
"By emphasizing risk in our financial advice, we've helped identify unique risk factors for every individual. From that understanding, we can then discuss our customer's 'risk appetite' relating to investment products that are on offer, as well as gauge their investment portfolios," said Khoo Chock Seang, head of personal financial services and digital banking at UOB Indonesia.
"Through this approach, our relationship manager team will periodically review customers' investment portfolios, create dynamic asset allocation and balance short-term strategies with long-term investment solutions," Khoo added.
In addition to the relationship manager team, Wealth Banking UOB has also prepared a variety of products and services, such as savings accounts, investments, bancassurance, homeowner's credit and credit cards.
UOB Indonesia is part of United Overseas Bank Limited, a prominent financial institution in Asia, with a global network of 500 offices in 19 countries in Asia Pacific, Western Europe and North America.
UOB Indonesia, founded in 1956, has a bank network of 41 branch offices, 137 branch support offices and 185 automated teller machines in 30 cities in 18 provinces in the archipelago.