UOB Vietnam has just announced a partnership with Intellect, a mental health technology company.
The bank’s SME clients get access to Intellect’s app that provides wellness support to their employees.
Personnel is an important focus for companies. According to the ASEAN SME Transformation Study 2022, about 44 percent of SMEs in the region are considering retaining and motivating their workforce as a measure to control labor costs[1] performed by UOB and partners.
However, with the rapid pace of business across the region, employee mental health has become a greater concern. Challenges SMEs face range from reduced employee morale and falling productivity to employee burnout.
App to promote employee wellbeing
Through the new partnership between UOB Vietnam and Intellect, UOB continues to develop resilience among SMEs — which make up nearly 99 percent of the region’s enterprises and contribute nearly half of ASEAN’s GDP — by supporting their workforce.
UOB Vietnam’s SME customers get free access to Intellect’s app for three months, giving them access to tools that promote the well-being of their employees. This includes access to a 24/7 helpline, guided journals for daily reflections and learning paths to tackle everyday challenges, such as stress caused by a busy work schedule.
The SMEs will also have the opportunity to upgrade their access to other content, such as wellness webinars and one-on-one coaching for their employees, at a discount.
Mr. Fred Lim, Head of Retail Banking, UOB Vietnam, said: “Developing resilience for SMEs through Intellect’s suite of manpower management solutions is how we support their long-term growth ambitions across the region. In turn, with a stronger and healthier workforce, SMEs will be able to drive optimal performance and strategic growth.”
Mr. Theodoric Chew, Co-Founder and CEO of Intellect, said, “We are delighted to partner with UOB Vietnam in this partnership. Through the bank’s strong franchise in ASEAN, we aim to improve businesses’ access to affordable, high-quality mental health services across Southeast Asia.”
UOB Vietnam is actively collaborating with companies in other ways, launching digital platforms and solutions such as UOB SME app and UOB BizSmart to meet the business financing and operational needs of SMEs.
This is consistent with another finding from the ASEAN SME Transformation Study, where 79 percent of Vietnamese SMEs indicated a stronger need for a tripartite partnership with their banks and governments to navigate the upcoming business environment.
