UOB attains top award for Innovation Hub 2 aligned with its digital transformation agenda
UOB Innovation Hub 2 Sdn. Bhd. is UOB Group’s first offshore Technology Centre, which provides technology development, application and infrastructure support, and infrastructure operations capabilities to support the Bank’s digital transformation agenda.
Different from other technology shared services centres which started with lower-level technology operations such as IT service desk and level 1 support, UOB Innovation Hub 2 embarked on a transformation roadmap to build a full-fledged technology delivery centre which covers the full system development lifecycle for high value business technology domains.
Since the establishment of the hub, the organisation has experienced accelerated capability growth. UOB Innovation Hub 2 has contributed to tech career development in banking by introducing a progressive career model such as its Dual Career Tracks focusing on developing leadership and subject matter experts (SMEs) and a 15-month Graduate Programme that is designed to raise the competencies among its fresh graduate trainees through a structured on-the-job learning by working with senior leaders on different projects. These programmes contribute to above-par employee satisfaction and retention rate.
The organisation also has a comprehensive learning and development programme which underscores its focus on developing technology capability among its employees and future tech leaders.
Its attrition rate for 2022 only tallied at 1%, indicating a healthy workplace and a testament to UOB Innovation Hub 2 being an organisation of choice for tech talents.
Despite being a new organisation, UOB Innovation Hub 2 also recognises the need to continuously develop its talent pipeline. This is executed through its career track-aligned learning pathways and a “LaunchPad”, a knowledge transfer methodology.
Since adopting the specialised training model of LaunchPad, UOB Innovation Hub 2 has been able to consistently deploy new resources into projects and support the work within a week.
In view of UOB Innovation Hub 2’s contribution to the Bank’s digital transformation agenda, the company received an award for Digital – Financial Services in the recently concluded Malaysia Technology Excellence Awards hosted by The Asian Business Review.
The annual awards programme recognises exceptional companies who are riding the disruption wave and are leading the technological revolution and digital journeys of their respective industries to boost Malaysia’s fast-growing economy.
In giving this award, the judging panel took into consideration three major achievements by the company.
First, the organisation was able to successfully onboard 300 technology talents across nine banking and enterprise technology domains across all competency levels at junior, mid, and senior within a short timeframe.
Secondly, its progressive career model within an established financial institution, which resulted in employee development, high employee engagement and excellent employee retention, helped lead to an attrition rate of 1%.
Third, there is a comprehensive learning and development offering and talent development capability, which enabled resources to be productive within a week of joining.
Overall, the UOB Innovation Hub 2 has demonstrated an exceptional commitment to building a strong and capable workforce through the accelerated resource ramp-up capability, progressive tech career model, and comprehensive learning and development programme.
The company is confident that UOB Innovation Hub 2 will be a leader in the banking technology industry in Malaysia for many years to come.