SINGAPORE (May 10): United Overseas Bank (UOB) and Santander UK will be collaborating with each other to facilitate greater cross-border business flows between Southeast Asia and the UK.

The partnership brings together the complementary strengths such as local market knowledge and regional presence of both banks in helping companies from their respective markets expand overseas.

These efforts include helping Singapore companies with their expansion plans in the UK, one of their top business and investment destinations.

Together they aim to help 200 small- and medium-sized enterprises (SMEs) expand from the UK into the Association of Southeast Asian Nations (ASEAN) region and vice versa over the next two years.

The SMEs will also be able to access each bank’s financial products and services.

In addition, they will benefit from the two banks’ respective industry insights and business connections, which are relevant and essential for successful market entry.

Sam Cheong, Head of Group Foreign Direct Investment (FDI) Advisory of UOB, says, “Together with Santander UK, we will focus on engaging businesses – from manufacturers to wholesalers and retailers – to help them seize the opportunities in the region.”

John Carroll, Head of Products and International Business of Santander UK, says, “Through our strategic alliance with UOB, we will engage more SMEs in the UK, helping them to understand the diverse economies and cultures of the region. This will help them to take advantage of the growing number of opportunities that exist.”