United Overseas Bank (UOB) and lifestyle e-commerce platform Zilingo have announced the signing of a Memorandum of Understanding (MOU) to support the growth of ASEAN’s fashion industry.
Businesses on Zilingo’s platform, which are mostly small- and medium-sized enterprises (SMEs), will be able to access UOB’s banking solutions through the e-commerce platform.
By providing greater access to banking solutions, Zilingo’s merchants and manufacturers across the region will be able to manage their cash flow better and grow their businesses more efficiently and easily.
“Through this collaboration with UOB, we want to reaffirm our commitment towards empowering merchants and manufacturers with everything they need to run their business,” said Ankiti Bose, CEO and Co-founder, Zilingo.
Choo Kee Siong, Head of Industry Groups, Group Commercial Banking, UOB, added, “Through our MOU with Zilingo, fashion businesses across ASEAN will be able to access our comprehensive range of banking solutions seamlessly to meet their operational and financial needs.”
In addition to supporting Zilingo’s merchants, UOB will also explore support for the e-commerce platform in a number of other areas, such as cash management, foreign exchange services and workplace banking services.
