The FinLab

What The FinLab does

The FinLab (operating as UOB FinLab) is an innovation accelerator wholly owned by United Overseas Bank Limited (UOB), established in 2015 and headquartered in Singapore. It supports small and medium enterprises across five ASEAN markets — Singapore, Malaysia, Thailand, Vietnam, and Indonesia — through structured programmes covering digital transformation, AI adoption, and sustainability. The organisation does not develop proprietary technology products; instead it operates as a programme platform that connects SMEs with technology partners, government agencies, and mentors via accelerators, workshops, masterclasses, and proof-of-concept sprints. Its portfolio spans the AI Ready Programme, Women in Business Programme, Sustainability Innovation Programme, GreenTech Accelerator, UOB SME Elevate Programme, Start Smart Programme, and the Arts Acceleration Programme, alongside country-specific programmes such as Jom Transform (Malaysia), Smart Business Transformation Programme (Thailand), and UKM SUKSES (Indonesia). The proprietary AI Readiness Index (AIRI) is an assessment instrument that benchmarks SME AI maturity and prescribes next steps, while content delivery draws on ecosystem partnerships with Microsoft, AI Singapore, IMDA, SkillsFuture Singapore, MDEC, depa, NSTDA, National Arts Council, Alibaba.com, DHL Express, Bursa Malaysia, and Mapletree.

Programme distribution is channelled primarily through UOB's SME Banking relationship managers and country-level UOB entities, supplemented by LinkedIn content (@uobfinlab), the FinLab Connect newsletter, and the community.thefinlab.com platform. Financially, The FinLab is structured as a non-commercial cost centre within UOB's SME Banking division rather than a revenue-generating entity; programme participation is largely subsidised or complimentary, with SkillsFuture Singapore providing up to 90% course fee subsidies under UOB's Queen Bee designation. Cumulative reported outcomes include 4,274+ SMEs connected across ASEAN, 285+ SMEs adopting digital solutions, 33,000 community members, 16 GreenTech pilots launched in 2024 with more than S$100,000 in funding, 2,411,675.51 kg of CO2 emissions reduced, and S$147,361.39 in cost savings across pilot projects.

Name

The FinLab

Legal name

United Overseas Bank Limited

Website

https://thefinlab.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

The FinLab (UOB FinLab) is UOB's innovation accelerator helping SMEs across five ASEAN markets adopt AI, digital tools, and sustainable practices through subsidised programmes, workshops, and ecosystem partnerships with government and technology providers.

Ownership category

akta.pro rank

Product category

SME Innovation Accelerator Services

NAICS

Commercial Banking (522110)

SIC

Finance Services (6199)

akta.pro primary industry

Financial Data, Analytics & FinTech Tools (BI, ERP, Automation) (EDABAJAM)

akta.pro secondary industry

SME Banking Suite (Business Accounts, Invoicing, Payroll Integrations) (FSAGAAAI)

Keywords

• SME digital transformation
• Innovation accelerator programmes
• AI adoption workshops
• Sustainability ESG training
• Women entrepreneurship support

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Programme Fees and Subsidies: UOB FinLab operates as a non-commercial innovation accelerator under United Overseas Bank. Programme participation is largely subsidised or complimentary for eligible SMEs, with funding support from SkillsFuture Singapore and government partners. The organisation functions as a cost centre for UOB's SME banking division, supporting client retention and relationship banking objectives rather than generating direct revenue.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels8 records

Core offering

The FinLab (operating as UOB FinLab) is an SME innovation accelerator that designs and delivers structured programmes covering AI adoption, digital transformation, sustainability/ESG, and women entrepreneurship. Offerings combine expert-led masterclasses, hands-on workshops, mentorship, AI readiness assessments via the proprietary AI Readiness Index (AIRI), and guided Proof-of-Concept sprints with technology partners such as Microsoft, AI Singapore, and regional digital economy agencies. Programmes are largely subsidised through SkillsFuture Singapore and government partners, distributed primarily through UOB's SME banking channels across five ASEAN markets.

Product overview

The FinLab is a business innovation accelerator operated by United Overseas Bank (UOB) that offers a portfolio of programmes to help SMEs in ASEAN digitally transform and adopt sustainable practices. The core offerings include the AI Ready Programme for AI adoption, Women in Business Programme for women entrepreneurs, Sustainability Innovation Programme for ESG and carbon management, GreenTech Accelerator for greentech innovators, and UOB SME Elevate Programme for comprehensive upskilling. Regional adaptations include Jom Transform (Malaysia), Smart Business Transformation Programme (Thailand), and UKMSUKSES (Indonesia). The programmes provide masterclasses, workshops, mentorship, and Proof-of-Concept support through a network of technology partners and advisors.

Differentiator

Problem solved

Functional benefit

Products and services

• AI Ready Programme A hands-on initiative designed to help SMEs explore, adopt, and scale AI solutions. Includes expert-led masterclasses, practical workshops with plug-and-play solutions, and a guided Proof-of-Concept (POC) phase.
• Women in Business Programme A 6-month scale-up journey for women business founders to strengthen commercial clarity, leadership capacity, and regional expansion readiness through practical capability-building, mentorship, and cross-border ecosystem access.
• Sustainability Innovation Programme (SIP) A 2-week programme to help SMEs transform their companies into sustainable and green businesses, covering ESG reporting, carbon management, sustainable finance, and innovative business strategies.
• GreenTech Accelerator (GTA) A regional accelerator connecting greentech innovators with corporates and SMEs across Singapore, Malaysia, and Thailand to tackle sustainability challenges through pilot projects and funding support.
• UOB SME Elevate Programme Part of UOB's SkillsFuture Queen Bee initiative, this programme strengthens skills and business capabilities of SMEs through training courses, skills advisory, mentorship, financial literacy, and networking, with up to 90% SkillsFuture funding.
• Start Smart Programme A practical and comprehensive online programme designed to help new and existing business owners strengthen their digital capabilities and take their business to the next level.
• Arts Acceleration Programme In collaboration with National Arts Council, this programme helps arts organisations and Self-employed Persons strengthen their business and digital capabilities to achieve growth and development.
• Jom Transform Programme Malaysia-focused programme helping SMEs compete in the digital economy by equipping them with tools, know-how and confidence to transform digitally.
• Smart Business Transformation Programme Thailand programme helping SMEs innovate and transform by implementing digital solutions with support from government and regional partners.
• Digitalisation Innovation Programme: UKM SUKSES Indonesia programme series designed to uplift and help businesses broaden their insights into various topics for business growth and development.

Quantifiable outcome

• 4,274+ SMEs connected across ASEAN
• +5 more outcomes

Named customers11 records

Segments8 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Feature1 record

Partnerships

33 partnerships are on record, tiered core and strategic.

• AI SingaporecoreTechnology or Integration · 8 July 2025AI Singapore is a national AI programme that supports the AI Ready Programme in Singapore, providing hands-on expertise and resources to help SMEs identify high-impact AI use cases and build confidence in leveraging AI for growth.
• IMDA (Infocomm Media Development Authority)coreStrategic or Co-development Partner · 8 July 2025IMDA supports the AI Ready Programme by providing regulatory guidance and ecosystem support for Singapore SMEs adopting AI technologies. The partnership helps businesses navigate AI adoption with practical strategies and governance insights.
• MicrosoftcoreTechnology or IntegrationMicrosoft partners across Singapore, Malaysia, and Thailand to provide technology platforms, AI tools, and support for the AI Ready Programme. In Malaysia, Microsoft collaborates with MDEC to help SMEs adopt AI confidently through a clear roadmap from awareness to implementation.
• MDEC (Malaysia Digital Economy Corporation)coreStrategic or Co-development PartnerMDEC partners with UOB FinLab Malaysia to support the AI Ready Programme, helping Malaysian SMEs adopt AI confidently through tailored solutions and government support, making AI adoption simple and impactful.
• depa (Digital Economy Promotion Agency, Thailand)coreStrategic or Co-development Partnerdepa supports the AI Ready Programme in Thailand, working with UOB FinLab Thailand to help SMEs move from basic digital operations to AI-driven businesses through tailored solutions and industry expertise.
• NSTDA (National Science and Technology Development Agency, Thailand)coreTechnology or IntegrationNSTDA collaborates with UOB FinLab Thailand to provide technological expertise and support for the AI Ready Programme, helping Thai SMEs leverage AI solutions for business transformation.
• SkillsFuture SingaporecoreStrategic or Co-development PartnerSkillsFuture Singapore designates UOB as a SkillsFuture Queen Bee, enabling the SME Elevate Programme to provide up to 90% course subsidies and support SMEs with mentorship, training, and tools for future-ready growth.
• Ngee Ann PolytechniccoreStrategic or Co-development PartnerNgee Ann Polytechnic supports the Sustainability Innovation Programme and other UOB FinLab initiatives, providing educational expertise and hosting workshops and training sessions for SME participants.
• National Arts Council (Singapore)coreStrategic or Co-development PartnerThe National Arts Council collaborates with UOB FinLab on the Arts Acceleration Programme, helping arts organisations and Self-employed Persons strengthen business and digital capabilities to achieve growth and development.
• MapletreestrategicStrategic or Co-development PartnerMapletree co-organises the AI Ready Programme workshop with UOB FinLab, exploring AI frameworks and practical strategies to enhance operations, engage customers, and boost productivity with agentic AI.
• SME Centre@SMFstrategicStrategic or Co-development PartnerSME Centre@SMF co-organises AI Ready Programme events with UOB FinLab, providing small business support and guidance for digital transformation and AI adoption.
• Mums@Work AsiastrategicStrategic or Co-development PartnerMums@Work Asia jointly organises AI Ready workshops for women entrepreneurs, empowering them to turn AI curiosity into confident action through practical tools, real stories, and hands-on sessions.
• Mums@Work AsiastrategicStrategic or Co-development PartnerMums@Work Asia supports the Women Beyond Borders initiative launched by UOB FinLab, helping women entrepreneurs explore overseas markets through cross-cultural learning and business exchanges, with first destination Japan.
• CSO CentrecoreStrategic or Co-development PartnerCSO Centre provides expert trainers and consultants for the Sustainability Innovation Programme, with featured speakers Lance Ng and Joyce Goh delivering sustainability courses on ESG reporting and carbon management.
• Lifelong Learning SGstrategicStrategic or Co-development PartnerLifelong Learning SG co-organises events with UOB FinLab, supporting upskilling initiatives for SMEs in areas like F&B and retail transformation.
• Alibaba.comstrategicStrategic or Co-development PartnerUOB Vietnam and Alibaba.com's Innovative Hub launched a support package to empower exporters, providing cross-border trade support and resources for Vietnamese SMEs expanding globally.
• DHL ExpressstrategicStrategic or Co-development PartnerDHL Express and UOB Indonesia partner to drive sustainable trade and SME growth through DHL's GoGreen Plus service, with UOB reducing up to 80% of emissions from international shipments and launching the country's first GoTrade event in Jakarta.
• Bursa MalaysiastrategicStrategic or Co-development PartnerBursa Malaysia collaborates with UOB Malaysia on the Sustainability Accelerator Programme 2.0, providing access to disclosure tools, decarbonisation solutions, and expert insights across industries for Malaysian SMEs.
• HIPMI JAYAstrategicStrategic or Co-development PartnerHIPMI JAYA partners with UOB FinLab Indonesia on the Digitalisation Innovation Programme: UKM SUKSES X HIPMI JAYA, helping business owners broaden insights into strategic entrepreneurship and trade dynamics.
• APINDOstrategicStrategic or Co-development PartnerAPINDO (Indonesian Employers' Association) collaborates with UOB FinLab Indonesia on the 8-week digitalisation programme D.I.P: UKM SUKSES X APINDO, supporting Indonesian business owners in digital transformation.
• SME Centre@SICCIcoreStrategic or Co-development PartnerSME Centre@SICCI supports the AI Ready Programme, providing additional SME advisory services and helping businesses navigate digital transformation and AI adoption journeys.
• Cero (Thailand)coreTechnology or IntegrationCero partners with UOB FinLab Thailand, including the CERO x Panyapiwat Institute of Management pilot project that launched a gamified project with students to create marketing campaigns.
• Fusion Solution (Thailand)coreTechnology or IntegrationFusion Solution supports the AI Ready Programme in Thailand, providing technology solutions and expertise for Thai SMEs on their digital transformation journey.
• Gopomelo (Thailand)coreTechnology or IntegrationGopomelo partners with UOB FinLab Thailand on the AI Ready Programme, offering technology solutions and support for SMEs adopting AI and digital tools.
• ITAP (Thailand)coreTechnology or IntegrationITAP (Innovation Technology Application Platform) collaborates with UOB FinLab Thailand to support technology adoption and innovation among Thai SMEs.
• Zwiz.AI (Thailand)coreTechnology or IntegrationZwiz.AI supports the AI Ready Programme in Thailand, providing AI solutions and expertise to help Thai SMEs leverage artificial intelligence for business growth.
• iNexTlabs (Malaysia)coreTechnology or IntegrationiNexTlabs partners with UOB FinLab Malaysia on the AI Ready Programme, providing technology solutions and support for Malaysian SMEs adopting AI.
• ADQLO (Malaysia)coreTechnology or IntegrationADQLO supports the AI Ready Programme in Malaysia, offering AI solutions and digital tools for SMEs looking to transform their operations.
• Altomate (Malaysia)coreTechnology or IntegrationAltomate partners with UOB FinLab Malaysia on the AI Ready Programme, providing technology solutions and expertise for Malaysian SME digital transformation.
• Pentech (Malaysia)coreTechnology or IntegrationPentech supports the AI Ready Programme in Malaysia, offering technology solutions and AI tools for SMEs on their digital adoption journey.
• QNE Software (Malaysia)coreTechnology or IntegrationQNE Software partners with UOB FinLab Malaysia on the AI Ready Programme, providing software solutions and support for SME digital transformation.
• SRKK (Malaysia)coreTechnology or IntegrationSRKK supports the AI Ready Programme in Malaysia, offering technology solutions for SMEs looking to adopt AI and digital tools.
• Weitizen (Malaysia)coreTechnology or IntegrationWeitizen partners with UOB FinLab Malaysia on the AI Ready Programme, providing AI solutions and technology expertise for Malaysian SMEs.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• OCBC SME Banking: OCBC's SME banking division offers business accounts, financing, and digital tools to SMEs across ASEAN. Comparable as a peer bank serving the same Singapore and ASEAN SME customer base, though its capability-building content is less centrally packaged than UOB FinLab's.
• Standard Chartered SC Ventures: Standard Chartered's venture and innovation arm investing in fintech and adjacent startups globally, with an emphasis on emerging markets. Comparable as a competing international bank accelerator with similar SME and digital transformation themes across ASEAN.
• Ant Group SME Services: Ant Group's fintech ecosystem includes SME lending, digital tools, and capability programmes serving millions of small businesses across Asia. Comparable as a much larger scale platform operator pursuing SME digitisation, providing a strategic benchmark for what scaled SME ecosystem plays look like.

Others

• Infocomm Media Development Authority (IMDA): Singapore government agency that runs SME digitalisation programmes (e.g., CTO-as-a-Service, SMEs Go Digital) and is itself a core UOB FinLab partner. Comparable as a public-sector SME capability builder that both collaborates with and competes for the same SME digital adoption funding pool.

Emerging players

• Block71 (NUS Enterprise): NUS-affiliated startup accelerator and ecosystem platform supporting early-stage founders across ASEAN. Comparable as an ASEAN-focused innovation hub, with overlapping event/workshop formats and ecosystem partner networks.
• SGInnovate: Singapore government-linked deep-tech investor and ecosystem builder focused on AI, blockchain, and medtech founders. Comparable as a Singapore-based innovation ecosystem player, though SGInnovate targets early-stage founders whereas UOB FinLab targets established SMEs.
• Startupbootcamp: Global accelerator network running fintech and digital programmes across multiple geographies including Southeast Asia. Comparable as a structured accelerator with mentor networks and demo days, though focused on early-stage startups rather than established SMEs.
• Plug and Play APAC: Global innovation platform with APAC operations in Singapore and other ASEAN markets, running corporate innovation and accelerator programmes. Comparable as an accelerator operator with corporate partner networks and demo-day formats targeting fintech and enterprise tech startups.

Regional players

• SME Corp Malaysia: Malaysian government agency coordinating SME development programmes, financing, and capability building. Comparable as a regional SME programme operator that UOB FinLab Malaysia partners with via MDEC and Bursa Malaysia, but functions as a regulator/funder rather than an accelerator.

Direct peers

• DBS BusinessClass: DBS Bank's SME community and capability-building platform targeting small businesses across Asia. Directly comparable to UOB FinLab as a competing bank-backed SME programme in Singapore and the broader region, with similar event-driven and community-led GTM motion.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/10382693
• Xx.com/the_finlab

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments12 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The FinLab