UOB Malaysia partners Dropee to roll out financial solutions, online banking services

  • UOBxDropee package offers access to financial solutions including cash management
  • UOB Malaysia’s wholesale banking clients get 20% discount on Dropee subscription

(L to R) Lucas Chew, Country Head of Transaction Banking, UOB Malaysia, Beh Wee Khee, Country Head of Commercial Banking, UOB Malaysia, Ng Wei Wei, Country Head of Wholesale Banking, UOB Malaysia, Lennise Ng, CEO of Dropee and Aizat Rahim, CFO, Dropee.

UOB Malaysia announced that it has partnered B2B e-commerce solution provider Dropee in a bid to help retailers and wholesalers digitalise and optimise their businesses.

As part of the collaboration, the bank has launched UOBxDropee, an exclusive package offering access to a range of financial solutions that cover cash management and trade finance as well as complimentary access to UOB Business Internet Banking Plus (UOB BIBPlus).

With these customisable cash management solutions, UOB Malaysia notes, Dropee customers will be able to manager their receivables and payables in a more efficient manner.

In addition, UOBxDropee offers fee waivers for real-time gross settlement systems via UOB BIBPlus that include Interbank GIRO, Real-Time Electronic Transfer of Funds and Securities and foreign telegraphic transfers. Businesses will also enjoy preferred rates for fees and charges for UOB Malaysia’s trade finance solutions.

Under the collaboration with Dropee, UOB Malaysia’s wholesale banking clients will also get a 20% discount on the monthly subscription fee when they sign up for Dropee’s online trading solution. The solution will enable them to buy supplies and to sell their products online more conveniently.

“The Covid-19 containment measures have prompted more consumers to shop online and this in turn has compelled businesses to go digital sooner rather than later. We are excited to work with Dropee to fast-track companies’ transition from the traditional brick-and-mortar to online channels,” says UOB Malaysia’s managing director and head of wholesale banking, Ng Wei Wei.

“The collaboration demonstrates our focus on providing the right financial solutions and connecting our clients to the relevant products and services our ecosystem partners have to offer. It also reflects our transaction banking capabilities in delivering real value to our clients, especially amid a challenging business environment.”

Founded in 2017, Dropee has processed more than 100,000 purchase orders and is continuing to grow its presence in the small and medium-sized enterprise (SME) sector.

Lennise Ng, Chief Executive Officer and cofounder of Dropee, said the company strives to help businesses go digital as seamlessly as possible. 

"The Covid-19 pandemic has brought significant disruption to many Malaysian businesses, especially the retail SMEs. With this partnership, Dropee aims to help businesses navigate these difficult times by extending their cash flow to keep them afloat,” she says.

“We continue to support our local businesses for they are the backbone of our nation's economy.”

Through Dropee's software-as-a-solution (SaaS) service, Dropee Direct, businesses can set up their own business-to-business e-commerce portals that come with features such as wholesale order management and inventory tracking on a single platform.

Dropee Direct connects with Dropee Marketplace, which currently hosts more than 60,000 trading and wholesale members who go on the platform to source products from new and existing suppliers. With a few clicks, registered users can monitor orders and payments on the platform anytime, anywhere.

 

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