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Shopee announces initiatives to support seller growth

SINGAPORE – Media OutReach – 21 July 2023 – Shopee Singapore celebrated the achievements of its sellers and announced a suite of initiatives to empower businesses at Seller Summit 2023.

Seller Summit KV.png

The theme of the Summit is “Win with Shopee: Roadmap to year-end sales success”.

Reaffirming its commitment to enhancing the seller experience, Shopee introduced the following key initiatives to its sellers at the virtual event to help them grow their businesses on the platform:

  1. Next Day Delivery (NDD) – Available to selected retailers, NDD benefits sellers by giving users greater certainty on delivery arrangements and supporting buyers’ urgent purchases.
  1. Coins Cashback Program – Shopee increased its priority platform vouchers and daily vouchers under the Coins Cashback Program to boost the sales of participating sellers on this program. In addition, Shopee offers preferential shipping rates for local sellers on this program.
  1. A tailored digital banking experience – Sellers can tap on MariBank’s business banking suite to support their business growth. Mari Business Loan provides sellers with a ready cash line to meet their evolving business needs. In addition, Mari Business Account offers sellers a competitive interest rate of 2.5% p.a., without additional costs and fees to operate their accounts.
  1. 30% Off Shopee Live – With 30% vouchers applied to all products sold on Shopee Live from 8pm to 11pm daily, sellers can take advantage of a growing livestream audience and engage buyers in real-time under this new livestream campaign.


Ian Ho, Vice President, Shopee,
said, “Small and Medium Enterprises are a critical part of Singapore’s economy. They are a major driver of economic growth and job creation in Singapore. Shopee is grateful for their long-standing support and trust in our platform. As the e-commerce industry continues to transform, we remain committed to adapting to the evolving needs of businesses and helping sellers grow and scale online.”

Utilising holistic solutions to achieve business growth

Singapore-based online Home & Living store, Multiple x Choice (MXC), saw the opportunity to expand its business and reach more online users on Shopee. MXC leveraged Shopee’s expertise to organise and automate its business processes. In doing so, MXC expanded its business’ capacity in accepting larger orders and managing its fulfilment process.

With the support of Shopee, MXC observes that its business operations have improved. It now has additional time to focus on product sourcing and marketing strategies. Since joining Shopee, MXC’s business has expanded steadily and grown multi-fold over the past three years. Its followers have also grown from about 2,000 in 2020 to 21,300 today.

Employing Shopee Flash Deals and Shopee Ads, MXC garners high traffic and strong interest from new customers on its new arrivals and key products. It attests to the benefits of Shopee Affiliate Marketing Solution (AMS), which amplifies its brand presence through Shopee’s network of partners. It also works with Key Opinion Leaders in its livestreams during its Christmas campaign and giveaways on Shopee Live.

Khloe Leong and Phoebe Mok, co-founders of Multiple x Choice (MXC), said, “We continue to serve our customers’ needs and expand our customer base by curating more MXC products. We are thankful that Shopee provides sellers like us with a wide range of marketing tools and seller programs, which increase our exposure and enable us to grow our business. Together with Shopee, we believe that we can create a fun, engaging and meaningful shopping experience through e-commerce.”

Expanding reach with engagement tools

Agiontex, a homegrown seller of eco-friendly home care products, also attests to the ease of becoming a seller on Shopee. The one stop service Shopee offers makes it convenient for Agiontex’s customer management and order fulfillment. Agiontex also uses the Shopee Xpress pick up service for timely order deliveries.

Agiontex has seen its revenue tripled since operating on Shopee three years ago. It has plans to focus on affiliate marketing to boost sales traffic in 2023. To reach out to a large pool of online consumers, Agiontex will continue to participate in Seller Center campaigns and promote its products on Shopee Live.

Wong Jiewei, Sales and Marketing Manager at Agiontex, said, “We encourage businesses to onboard with Shopee as its seller support and customer service are top-notch. Shopee has supported our business goals from the beginning and has helped our business to grow. It has enabled Agiontex to reach out to a new customer base while facilitating timely order fulfillment.”
Hashtag: #Shopee

The issuer is solely responsible for the content of this announcement.

Shopee

Shopee is the leading e-commerce platform in Southeast Asia & Taiwan. Shopee promotes an inclusive and sustainable digital ecosystem by enabling businesses to digitalise and grow their online presence, helping more people access and benefit from digital services, and uplifting local communities.

Shopee offers an easy, secure, and engaging experience that is enjoyed by millions of people daily. Shopee is also a key contributor to the region’s digital economy with a firm commitment to helping homegrown brands and entrepreneurs succeed in e-commerce.

Shopee is part of Sea Limited (NYSE: SE), a leading global consumer internet company. Sea’s mission is to better the lives of consumers and small businesses with technology through its three core businesses: Shopee, Garena and SeaMoney.

Laos, Malaysia Sign Deal for Cross-border Railway Operations

Anwar (second from left) with his counterpart from Laos, Sonexay (second from right) at the signing ceremony between KTMB and LNRE, which were represented by Mohd Rani (left) and Daochinda respectively. (Photo: Bernama)

Kuala Lumpur (The Star): Malaysia and Laos have marked an important milestone in cross-border railway movement with a memorandum of collaboration signed between their respective rail operators.

Laos Receives USD 426 Million from Lao Workers Abroad as Foreign Remittance

Photo Credit: Jason Rolan

Lao workers who work abroad send an average of over USD 35.5 million per month back to Laos, or USD 426 million per year, which makes a significant contribution to the country’s economy and foreign currency earnings.

Vietnam’s OCB Partners Backbase to Leapfrog Omnichannel Banking Modernization & Personalization

Top Private Vietnamese bank chooses Backbase Engagement Banking Platform for Retail Banking

HO CHI MINH, VIETNAM – Media OutReach – 21 July 2023 – Backbase, the global leader in Engagement Banking today announced that Orient Commercial Joint Stock Bank (OCB) has chosen Backbase to power its omnichannel banking modernization in a signing ceremony on 20 July 2023. OCB’s goal is to create a personalized digital banking system for each customer across all channels, by fully digitizing every customer journey and touchpoint to provide seamless services via mobile applications and computer platforms. This project implementation will be led by Backbase’s partner SmartOSC.

Cooperation agreement between OCB, Backbase and SmartOSC to accelerate, modernize and personalize omnichannel digital banking with Backbase Engagement Banking Platform
Cooperation agreement between OCB, Backbase and SmartOSC to accelerate, modernize and personalize omnichannel digital banking with Backbase Engagement Banking Platform

OCB is the top private bank in Vietnam and is Backbase’s fifth customer in Vietnam. In 2022, OCB expanded OCB OMNI to more than 200 products, services, and utilities. OCB OMNI users increased more than 1.7 times, while the number of transactions increased by more than 200% compared to 2021. OCB’s rate of deposit through digital channels also increased by 178% over the same period.

Mr. Nguyen Dinh Tung, CEO, OCB, said “As a pioneer bank of digital transformation in general and omnichannel banking in particular, our strategy is to create a unified customer lifecycle first in the retail banking line of business and swiftly expand to the business banking line of business. With the Backbase Engagement Banking Platform (EBP) based on three main factors including: a six-month go-live timeline, full control over building, owning, and customizing differentiated upstream and downstream requirements, and local support for implementation and future project needs. OCB expects to accelerate customer acquisition growth and double its retail banking monthly active users in the first year of the platform launch, and goal to grow to 10 million monthly active users in 5 years of the launch.”

OCB’s previous in-house attempt lacked scalability, speed to market, and failed to meet expectations, posing a threat to the bank’s position as a fast-growing and customer-centric institution. With the implementation of Backbase’s EBP, OCB now has the ability to adopt and build, aligning with its modern banking culture and customer-centric approach. he investment aligns with OCB’s business model and management values of low risk, efficiency, safety, and growth.

“Innovative banks with high digital maturity like OCB endeavor to take the driver’s seat to deliver their own unique omnichannel digital banking proposition. The beauty in adopting and building is that banks do not need to worry about the underlying business rules, orchestration of banking services, hygiene security and compliance requirements, and the essential micro services and journeys that are already proven to work across the lines of business and channels they want to re-architect. On day one, banks could start building on top of the platform to customize journeys and experience for specific consumer segments, products, and channels, which is the reason that go-live for such an extensive omnichannel platform can be within 6 months,” Riddhi Dutta, Regional Vice President, Asia, Backbase said.

SmartOSC will assist OCB in integrating the Engagement Banking Platform, also referred to as the Digital Banking Omnichannel Platform, into its existing records systems, while also addressing OCB’s initial localization requirements, by leveraging their extensive experience and market-leading solutions, Furthermore, SmartOSC will develop OCB’s Mobile Banking, Internet Banking, and Employee App.

“We are excited to collaborate with OCB and Backbase at this pivotal time in banking. Having the ability to quickly adapt to evolving customer needs is essential in today’s digital landscape. This is what makes this collaboration so important!” Mr. Le Mai Anh, Vice Chairman of SmartOSC said. “We are honored to work together to modernize omnichannel banking using the Engagement Banking Platform showcasing the best that innovation and customer-centricity have to offer. It is with great confidence that we deliver this project on time and support OCB’s mission of putting customer needs first by delivering high-quality products and services without disruption.”

The Backbase Engagement Banking Platform was recognized as a leader earlier this year by industry research analysts at Celent and Omdia.Hashtag: #Backbase #digitalbanking #engagementbanking #retailbanking #omnichannelbanking

The issuer is solely responsible for the content of this announcement.

Backbase

is on a mission to re-architect banking around the customer.

Backbase created the Backbase Engagement Banking Platform – a unified platform with the customer at the center, empowering banks to accelerate their digital transformation. From customer onboarding, to servicing, loyalty, and loan origination, our single platform — open and frictionless, with ready-to-go apps — improves every aspect of the customer experience. Built from the ground up with the customer at the heart, our Engagement Banking Platform easily plugs into existing core banking systems and comes pre-integrated with the latest fintechs so financial institutions can innovate at scale.

Industry analysts Gartner, Omdia, and IDC continuously recognize Backbase’s category leadership position. Over 120 financials around the world have embraced the Backbase Engagement Banking Platform. In APAC, the customers we serve include ABBANK, BDO Unibank, Bank of the Philippine Islands, EastWest Bank, HDFC, IDFC First, JudoBank, Techcombank, TPBank, and UBank.

Backbase is a privately funded fintech company, founded in 2003 in Amsterdam (Global HQ), with regional offices in Singapore (APAC HQ), Atlanta (Americas HQ), and operations in Australia, India, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Latin America, and the UK.

Orient Commercial Joint Stock Bank (OCB)

was established on 10 June 1996. After more than 27 years of operation and development, OCB currently has more than 200 business units spread across all regions and key economic centers across the country.

OCB was recognized by the State Bank as one of the first three banks to complete risk management items according to the Basel II international standards by the end of 2018. Moody’s Investors Service, one of the three most prestigious credit rating agencies in the world, increased Counterparty Risk Assessment (CRA) and Counterparty Risk Rating (CRR) to Ba3 in July 2019. This is the highest-ranking level in Vietnam today.

OCB has gradually risen to the top of the group of private banks in Vietnam according to three criteria: growth rate, safety and efficiency. Not only operational efficiency and profit, OCB always actively controls costs, synchronously implements cost-optimizing solutions to improve business efficiency, this is the Bank’s direction throughout.

SmartOSC

With 18 years in operation, is an industry-leading digital transformation agency of 1000+ experts across countries including Vietnam, Australia, Singapore, Japan, Thailand, Indonesia, Korea, the US and the UK. Deep experience across most enterprise platforms and technology stacks has made SmartOSC a trusted partner for leading brands and financial institutions worldwide.

SmartOSC Fintech provides top-tier solutions and caters to tailor-made requirements for banks and financial institutions worldwide by leveraging the latest technologies. This capability means banks can reduce operating costs, save implementation time and ensure security with SmartOSC Fintech suite.

Being recognized as a leading customer-centric eCommerce partner at The Global Economics Awards 2023, SmartOSC is able to represent its commitment to helping clients to succeed in an ever-changing world.

Vientiane Residents Voice Concerns Over Factory Emissions, Noise Pollution

Factory emissions

The rapid urban development of Vientiane Capital is facing challenges as emboldened residents complain of emissions from nearby factories affecting their quality of life.

United States and Norway Provide Over USD 20.8 Million to Increase UXO Clearance in Southern Laos

UXO clearance in Laos (Photo: NPA)

The Government of the United States of America and the Government of Norway have continued their long-term commitments to supporting the unexploded ordnance (UXO) sector in Laos, with a combined total of over USD 20.8 million committed to the Norwegian People’s Aid (NPA) to support survey and clearance operations in four southern provinces of Laos.

High-Level Taskforce Established to Tackle Economic Challenges in Laos

Patuxay amid Vientiane night sky

The Politburo of the Lao People’s Revolutionary Party Central Committee has formed a high-level taskforce to address the pressing economic and financial issues affecting Laos.

Laos Sees Trade Deficit of USD 126 Million in June

Laos reported its highest trade deficit in June since January 2023. (Photo: Jclao)

Laos’ imports and exports totaled over USD 1 billion in June; exports were valued at USD 458 million, while imports were approximately USD 584 million, resulting in a trade deficit of USD 126 million.