UOB, Intellect partner to support Vietnam SMEs

Singapore-backed United Overseas Bank (UOB) Vietnam has partnered with Asia-focused mental wellness tech company Intellect in supporting the former's SME customers.

The collaboration will enable UOB Vietnam’s small- and medium-sized customers to get free access for three months to Intellect’s app, which provides well-being support for their employees.

This includes access to a 24/7 helpline, guided journals for daily reflections, and learning paths to help tackle everyday challenges like stress caused by a busy work schedule.

The SMEs will also be offered an option to upgrade their access to further content like well-being webinars and one-to-one coaching for their employees, at a discount.

“Developing resilience for SMEs through Intellect’s suite of manpower management solutions is how we support their long-term growth ambitions across the region,” said Fred Lim, head of retail banking at UOB Vietnam.

Intellect co-founder and CEO Theodoric Chew said, “Through the bank’s strong franchise across Asean, we aim to improve businesses’ access to affordable, quality mental wellness care across Southeast Asia.”

About 44% of the region’s SMEs are looking at retaining and motivating their staff as a measure to manage labor costs, according to the Asean SME Transformation Study 2022 conducted by UOB and its partners.