UOB named Best SME Bank in the World

UOB was recognised as the Best SME Bank globally for its regional network, tailored support, and innovative solutions like UOB Infinity, an integrated supply chain platform.

• BTG Pactual won for ultra-fast SME account setup and loan access; MBH Bank for BUPA, a comprehensive platform advancing SME inclusion with tools, financing, and modern banking operations in Hungary.
• Deuna won acclaim for its API-based payment platform simplifying business transactions in Ecuador. Saui Arabia’s SAB secured recognition for digital onboarding, driving 600% SME account growth and 90% online adoption through e-signatures.

• Absa won Best New SME Product for its seamless, multi-channel payment solution. Krungsri won for its innovative platform consolidating SME services, addressing Thai businesses’ struggle with multiple fragmented banking systems.

The small and medium enterprise (SME) banking landscape has changed dramatically in recent years, reshaped by digital disruption, rising customer expectations and intensified competition from fintechs and challengers. No longer satisfied with slow processes or generic offering, SMEs now expect fast onboarding, intuitive digital platforms, tailored financial products and responsive support.

Traditional banks, once the primary financial partners for small businesses, have had to rapidly modernise their offerings to keep pace with evolving client expectations. Adapting to this new reality is not just about retaining SME clients—it’s about staying relevant in a fast-evolving market.

The Digital Banker’s Global SME Innovation Awards 2025 – currently in its third year – is the world’s only awards programme that goes beyond honouring just the banks to include innovation within their product offerings and bringing team effort to the forefront.

The Best SME Bank in Singapore and the World

UOB – one of Asia’s leading banks with a legacy spanning nearly 100 years – was recognised as the Best SME Bank in the World. With a network across ASEAN as well as 500 global offices, the bank boasts a strong and extensive franchise to offer to SMEs that want to expand and grow their operations. To support businesses across segments, the bank has a team of sector specialists, as well as an integrated supply chain platform – UOB Infinity – which allows businesses to sync their entire value chain and have a complete overview of their trade and cash position across borders on a single interface.

This lies on top of an extensive offering of digital and face-to-face products and services exclusively catering to SMEs and their complex needs.

What made a significant impact for TDB’s judges was the number of initiatives UOB has set out to cater to businesses of all sizes – even within the SME segment. For smaller businesses, UOB goes beyond banking to help SMEs succeed, by connecting them to a broad network of industry peers, business partners and potential collaborators. UOB hosts business networking events and provides access to business mentorship and coaching opportunities. In 2024, the bank engaged with nearly 1,300 businesses through 30 such events held throughout the year.

Going beyond standard expectations, UOB is also helping small businesses on their transition to sustainability through the provision of tools, preparation for emerging trends and access to a wider business network.

For start-ups and microbusinesses, UOB offers a short tenor, cash advance loan, thus granting access to funding for businesses that were previously underserved or excluded. In the last couple of years since the launch of this product, UOB claims it has seen a rapid growth in its MSME client portfolio, with a 48% year-on-year growth seen as of November 2024.

Remarking on UOB’s win, Kavita Bedi, Managing Director and Head, Group Business Banking, UOB, said during the awards ceremony: “Thank you to The Digital Banker for recognising UOB as the world’s best and Singapore’s best SME bank.

“With our experience in partnering SMEs for the last 90 years, UOB will continue to drive growth for our clients. We will continue to connect them through our extensive trade network to fast-growing sectors and opportunities within the region, to greater China and beyond.

“We will also continue partnering SMEs to develop resilience through digital transformation and achieving sustainable growth. Finally, a big thank you to all our staff and all our clients for their long-term partnership and trust in us as the one bank for ASEAN.”

In awarding this title to UOB, The Digital Banker recognises not only exceptional performance, but a clear vision for the future of SME banking. UOB has set a global benchmark through its commitment to innovation, digital excellence and genuine partnership with the SMEs it serves.

The small and medium enterprise (SME) banking landscape has changed dramatically in recent years, reshaped by digital disruption, rising customer expectations and intensified competition from fintechs and challengers. No longer satisfied with slow processes or generic offering, SMEs now expect fast onboarding, intuitive digital platforms, tailored financial products and responsive support.

Traditional banks, once the primary financial partners for small businesses, have had to rapidly modernise their offerings to keep pace with evolving client expectations. Adapting to this new reality is not just about retaining SME clients—it’s about staying relevant in a fast-evolving market.

The Digital Banker’s Global SME Innovation Awards 2025 – currently in its third year – is the world’s only awards programme that goes beyond honouring just the banks to include innovation within their product offerings and bringing team effort to the forefront.

A truly global awards programme

With over 100 entries from over 50 unique institutions around the world, the 2025 edition of the Global SME Banking Innovation Awards was a testament to its global nature, with submissions coming in from across continents.

The award for Best SME Business Current Account was given to BTG Pactual – a transformative force in the SME banking space. The platform’s rapid growth is evidenced in 400 new account openings daily with 90% being completed in under five minutes. Loan disbursements on the platform also get completed in under 10 minutes, which is 16x faster than retail competitors. BTG Pactual boasts the fastest time to benefit in the market, supporting SMEs with tailored, low-cost credit lines.

Best SME Financial Inclusion Initiative award went to Hungarian MBH Bank, whose beyond banking digital platform – BUPA – allows people to not only establish their business, but also allows existing SMEs to find tools for all their needs from invoicing and accounting to EU loans and buy now, pay later (BNPL) services. The bank says 10% of its SME clients use the platform at the moment, with the number growing significantly each day. The platform also operates as a separate entity from the parent, but works closely with it, enabling not only product stability but also a new, modern way of operation in Hungary’s banking sector.

Another institution that received high acclaim from TDB under this category is Deuna from Ecuador, a leading digital wallet in the country, supported by Ecuador’s largest bank, Banco Pichincha, with over 4.5 million users and connecting more than 400,000 businesses. Deuna Business’ alternative payment solution simplifies transaction management for Ecuadorian businesses with a secure, API platform that enhances the UX and reduces operational complexities for businesses. The solution solves the critical challenge of payment management for businesses and for Deuna, it has strengthened market position and improved revenue streams.

SAB from Saudi Arabia won the Outstanding SME Account Opening and Onboarding Initiative for a second time – boasting a 600% increase in account openings since launch and 90% businesses opting to open their accounts completely online through digital signatures.

A promising future

The Global SME Banking Innovation Awards will continue to shine a spotlight on some of the most significant work that is reshaping how banks SMEs, with the last eight years seeing remarkable strides in this space.

These awards celebrate not just innovation, but impact—highlighting those solutions that address the evolving needs of businesses around the world. As we look ahead, one thing is clear: those who put SME clients at the heart of their strategy are bound to succeed.