Dropee partners with UOB to simplify trading and wholesale for businesses to thrive through banking and digital solutions
KUALA LUMPUR, MALAYSIA, November 25th, 2020 – Dropee, a leading business-to-business (B2B) eCommerce solution provider in Malaysia, announced today that they have collaborated with United Overseas Bank (Malaysia) Bhd (UOBM) to help support trading and wholesale businesses during this time of pandemic crisis by granting them access to a range of banking and digital solutions.
This collaboration will offer Dropee Direct users exclusive access to a packaged solution which includes cash management, trade finance, and complimentary access to UOB Business Internet Banking Plus (UOB BIBPlus) to provide Dropee Direct users with day-to-day banking necessities. This is aligned with UOBM’s digital strategy in order to promote digitalisation to their customers and our ecosystem.
Additionally, Dropee will offer clients of UOBM access to Dropee’s vast online trading platform at a lower subscription fee. Through this platform, UOBM clients are able to bring their businesses online via Dropee Direct, a software-as-a-solution (SaaS) they have their own B2B eCommerce portal to allow them to engage, retain, and communicate with retail customers efficiently. This platform comes with a whole range of features including managing wholesale orders, tracking inventories, monitoring stock levels, and more.
Dropee Direct users are to be provided with the package solution inclusive of Transaction Banking solutions designed to be extended across their financial ecosystem and to help manage their receivables and payables in a more efficient manner, thereby managing their financial accounting with greater certainty.
Furthermore, this partnership allows Dropee members to enjoy fee waivers for real-time gross settlement systems via UOB BIBPlus that include Interbank GIRO, Real-Time Electronic Transfer of Funds and Securities (RENTAS) and foreign telegraphic transfers. Businesses will also enjoy preferred rates for fees and charges for UOB Malaysia’s trade finance solutions. These benefits will enable them to achieve greater cost-efficiencies.
Ms Ng Wei Wei, Managing Director and Head of Wholesale Banking, UOB Malaysia, said the collaboration with Dropee underscores the Bank’s commitment to help companies accelerate their digitalisation journey amid the current business environment.
“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. 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.”
Dropee is excited to finally present this offering after much planning with their partner, UOBM, as it aligns with their mission to add value to the industry by making the process of going digital as seamless as possible in order to help businesses thrive. Dropee believes this is a great strategy to help businesses spearhead their game especially amid uncertain times. Lennise Ng, CEO and Co-founder of Dropee shares, “The COVID-19 has brought significant disruption to many Malaysian businesses, especially the retail SMEs. Through this partnership, Dropee aims to help businesses navigate through these difficult times by extending their cash flow to keep them afloat. We hope to continuously support our local businesses for they are the backbone of our nation’s economy”.
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Dropee is a B2B e-commerce solution provider that helps brands, wholesales, and distributors grow their wholesale business confidently by making it easy for their customers to order the right products from them, in-person and online. Founded in 2017, Dropee is headquartered in Malaysia and has an office in Singapore offering a wide range of e-commerce solutions for businesses. Visit https://www.borong.com/ to bring your wholesale business online.
For further enquiries, please contact:
Dropee
Ms Felicia Khoo
+6012-252 1893
Ms Zoe Liow