UOB and Accenture Partner to Harness AI Technologies and Upskill Workforce in Groundbreaking Collaboration

UOB and Accenture Partner to Harness AI Technologies and Upskill Workforce in Groundbreaking Collaboration

(IN BRIEF) UOB has partnered with Accenture in a three-year collaboration to advance the Bank’s use of generative and agentic AI technologies. This strategic MoU will help UOB accelerate its AI journey by enhancing business processes and personalizing customer experiences. As part of the partnership, UOB will upskill its employees through Accenture’s LearnVantage training services, ensuring the workforce is equipped to leverage these advanced technologies. The initiative will drive greater efficiency, value, and growth within UOB’s ASEAN network.

(PRESS RELEASE) DUBLIN, 1-May-2025 — /EuropaWire/ — UOB (United Overseas Bank) and Accenture (NYSE: ACN) have signed a Memorandum of Understanding (MoU) to support the Bank’s adoption of advanced technologies, including generative artificial intelligence (GenAI) and agentic AI, over the next three years. This marks the first AI-focused strategic collaboration between Accenture and a Singapore bank.

UOB aims to continuously enhance customer experience through technological innovation. As part of the agreement, UOB will leverage Accenture’s AI-powered assets, including the AI Refinery™️ platform, to accelerate its journey with GenAI. The collaboration will apply AI solutions across the Bank’s operations to improve business processes, boost productivity, manage risk, and provide personalized customer experiences at scale and speed.

A key component of this partnership is UOB’s focus on upskilling and retraining its workforce to effectively harness the potential of advanced technologies. Accenture’s LearnVantage training services will provide UOB employees with the skills, knowledge, and mindset needed to successfully deploy AI technologies in their roles, with a focus on enhancing customer engagement.

Mr. Wee Ee Cheong, Deputy Chairman and CEO of UOB, commented, “We are excited about the immense potential that advanced technologies, particularly AI, offer to transform our operations. By leveraging these solutions, we aim to enhance productivity, improve customer engagement, and deliver personalized experiences at scale across our extensive ASEAN network.”

Julie Sweet, Chair and CEO of Accenture, added, “We are thrilled to partner with UOB to help them realize their vision for the future of banking. Together, we will scale generative and agentic AI, while also equipping UOB’s workforce with valuable technology skills. This partnership will drive greater efficiency, innovation, and growth, enhancing UOB’s customer experiences.”

This collaboration reflects UOB’s ongoing commitment to adopting AI and advanced technologies to increase customer value, improve operational efficiency, and future-proof its workforce for continued success.

Forward-Looking Statements
Except for the historical information and discussions contained herein, statements in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “aspires,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook,” “goal,” “target” and similar expressions are used to identify these forward-looking statements. These statements are not guarantees of future performance nor promises that goals or targets will be met, and involve a number of risks, uncertainties and other factors that are difficult to predict and could cause actual results to differ materially from those expressed or implied. These risks include, without limitation, risks that: the transaction might not achieve the anticipated benefits for Accenture; Accenture’s results of operations have been, and may in the future be, adversely affected by volatile, negative or uncertain economic and geopolitical conditions and the effects of these conditions on the company’s clients’ businesses and levels of business activity; Accenture’s business depends on generating and maintaining client demand for the company’s services and solutions including through the adaptation and expansion of its services and solutions in response to ongoing changes in technology and offerings, and a significant reduction in such demand or an inability to respond to the evolving technological environment could materially affect the company’s results of operations; risks and uncertainties related to the development and use of AI could harm the company’s business, damage its reputation or give rise to legal or regulatory action; if Accenture is unable to match people and their skills with client demand around the world and attract and retain professionals with strong leadership skills, the company’s business, the utilization rate of the company’s professionals and the company’s results of operations may be materially adversely affected; Accenture faces legal, reputational and financial risks from any failure to protect client and/or company data from security incidents or cyberattacks; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; Accenture’s ability to attract and retain business and employees may depend on its reputation in the marketplace; if Accenture does not successfully manage and develop its relationships with key ecosystem partners or fails to anticipate and establish new alliances in new technologies, the company’s results of operations could be adversely affected; Accenture’s profitability could materially suffer due to pricing pressure, if the company is unable to remain competitive, if its cost-management strategies are unsuccessful or if it experiences delivery inefficiencies or fail to satisfy certain agreed-upon targets or specific service levels; changes in Accenture’s level of taxes, as well as audits, investigations and tax proceedings, or changes in tax laws or in their interpretation or enforcement, could have a material adverse effect on the company’s effective tax rate, results of operations, cash flows and financial condition; Accenture’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; Accenture’s debt obligations could adversely affect its business and financial condition; changes to accounting standards or in the estimates and assumptions Accenture makes in connection with the preparation of its consolidated financial statements could adversely affect its financial results; as a result of Accenture’s geographically diverse operations and strategy to continue to grow in key markets around the world, the company is more susceptible to certain risks; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; Accenture might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; Accenture’s business could be materially adversely affected if the company incurs legal liability; Accenture’s work with government clients exposes the company to additional risks inherent in the government contracting environment; Accenture’s global operations expose the company to numerous and sometimes conflicting legal and regulatory requirements; if Accenture is unable to protect or enforce its intellectual property rights or if Accenture’s services or solutions infringe upon the intellectual property rights of others or the company loses its ability to utilize the intellectual property of others, its business could be adversely affected; Accenture may be subject to criticism and negative publicity related to its incorporation in Ireland; as well as the risks, uncertainties and other factors discussed under the “Risk Factors” heading in Accenture plc’s most recent Annual Report on Form 10-K, as updated in Item 1A, “Risk Factors” in its Quarterly Report on Form 10-Q for the second quarter of fiscal 2025, and other documents filed with or furnished to the Securities and Exchange Commission. Statements in this news release speak only as of the date they were made, and Accenture undertakes no duty to update any forward-looking statements made in this news release or to conform such statements to actual results or changes in Accenture’s expectations.

About UOB
UOB is a leading bank in Asia. Operating through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, UOB has a global network of more than 470 branches and offices in 19 markets in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. Today, UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings.

For nine decades, UOB has adopted a customer-centric approach to create long-term value by staying relevant through its enterprising spirit and doing right by its customers. UOB is focused on building the future of ASEAN—for the people and businesses within, and connecting with, ASEAN.

The Bank connects businesses to opportunities in the region with its unparalleled regional footprint and leverages data and insights to innovate and create personalised banking experiences and solutions catering to each customer’s unique needs and evolving preferences. UOB is also committed to help businesses forge a sustainable future, by fostering social inclusiveness, creating positive environmental impact and pursuing economic progress. UOB believes in being a responsible financial services provider and is steadfast in its support of art, social development of children and education, doing right by its communities and stakeholders.

About Accenture
Accenture is a leading global professional services company that helps the world’s leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services—creating tangible value at speed and scale. We are a talent- and innovation-led company with approximately 801,000 people serving clients in more than 120 countries. Technology is at the core of change today, and we are one of the world’s leaders in helping drive that change, with strong ecosystem relationships. We combine our strength in technology and leadership in cloud, data and AI with unmatched industry experience, functional expertise and global delivery capability. Our broad range of services, solutions and assets across Strategy & Consulting, Technology, Operations, Industry X and Song, together with our culture of shared success and commitment to creating 360° value, enable us to help our clients reinvent and build trusted, lasting relationships. We measure our success by the 360° value we create for our clients, each other, our shareholders, partners and communities. Visit us at accenture.com.

Media Contacts:

Yasmin Quek
Accenture
+9049 4273
yasmin.quek@accenture.com

Daryl Tan
UOB
+8750 9442
daryl.tanwk@uobgroup.com

SOURCE: Accenture