Singapore, 26 December 2019 – United Overseas Bank (UOB) today announced it was making it easier for parents to discover and to nurture their child’s true potential through a partnership with Prudential Singapore and Nickelodeon Asia that will enhance the UOB KidSmart Programme.
The first step in the UOB KidSmart Programme is for children to take an online test to identify their natural abilities based on eight types of intelligences1. The five-minute test, which is based on the MIDAS™ (Multiple Intelligences Development Scales) aptitude assessment tool2, gives parents deeper insight into the unique strengths of their child. In the three years since the UOB KidSmart Programme was launched, more than 20,000 children have taken the test to find out their natural talents. Parents have then used the test results to partner UOB on a financial plan to nurture the development of their child’s particular intelligences. This has resulted in a 44 per cent increase in the average savings balance of three in five parents whose children have taken the test3.
However, seven in 10 customers are not yet using insurance solutions to protect and to grow their financial assets4. To help bridge this gap and to ensure that the plans for their children can weather rainy days, UOB has partnered Prudential Singapore to add a suite of protection and endowment plans to the UOB KidSmart Programme. This way, families will be covered against unforeseen events and can still take care of their child’s developmental needs.
Also new to the UOB KidSmart Programme is the launch of the Nickelodeon Academy of Smarts. UOB and Nickelodeon Asia have paired the eight different intelligences under the MIDAS™ framework with some of the most well-loved Nickelodeon characters. For example, the Teenage Mutant Ninja Turtles’ athleticism helps children understand what it means to be Body Smart; twin genie sisters Shimmer and Shine’s musicality and singing exemplify being Music Smart; Dora the Explorer’s love for the natural world embodies Nature Smart; while the rescue puppies from PAW Patrol represent People Smart through their close relationships with humans.
Ms Jacquelyn Tan, Head of Personal Financial Services Singapore, UOB, said, “UOB serves more than two in five5 young families6 in Singapore and from this experience we can see how parents strive to provide the best for their children. It is one of the reasons we created UOB KidSmart Programme three years ago and it is why we continue to enhance it by including like-minded partners such as Prudential Singapore and Nickelodeon Asia. By improving the way children identify their natural talents and helping parents protect and grow their wealth more holistically, we can ensure more Singaporean children reach their full potential.”
Mr Wilf Blackburn, CEO, Prudential Singapore, said, “We’re pleased to collaborate with our long-time bank partner, UOB and a new partner, Nickelodeon Asia to launch the Nickelodeon Academy of Smarts. This programme will help a child discover his potential and will help parents in planning better for their child’s future. It’s important to save and invest early for your child’s life milestones to give them a head start, as well as to put in place adequate medical and protection plans to buffer against life’s uncertainties.”
Ms Syahrizan Mansor, Vice President, Nickelodeon Asia, ViacomCBS Networks International said, “Kids always come first for Nickelodeon so naturally, making the world a more playful place is our mission. We want kids to explore their creativity so the Nickelodeon Academy of Smarts - in partnership with UOB and Prudential Singapore - is one way of incorporating play and Nickelodeon characters to help kids discover their abilities. We want kids to feel encouraged and empowered to find out more about their strengths through Nickelodeon-themed activities. For example, kids who have an affinity to nature and animals may identify as ‘Nature Smart’ through our microsite and align with Dora The Explorer, and will hence be drawn to activities that relate to the great outdoors and an adventurous spirit, to help them achieve their goals.”
In addition to the MIDAS™ assessment tool, the UOB KidSmart Programme website at www.uob.com.sg/kidsmart features an online financial goal planner to help parents chart a suitable financial plan to support their children’s development. Parents can also access deals for a range of enrichment activities for their children linked to the different types of intelligences. Children are encouraged to discover more about their intelligences through Smart task sheets found on the Nickelodeon Academy of Smarts microsite at www.nickelodeon.com/academyofsmarts
Nickelodeon Asia, Prudential Singapore and UOB have organised a series of activities as part of their year-long partnership. For example, in 2020, UOB Wealth Banking customers will be able to enrol their children in exclusive masterclasses held at selected UOB Wealth Banking Centres. The children will be able to explore their intelligences through activities such as creating stop motion videos, augmented reality clips and digital music.
About United Overseas Bank
United Overseas Bank Limited (UOB) is a leading bank in Asia with a global network of more than 500 offices in 19 countries and territories in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. UOB is rated among the world’s top banks: Aa1 by Moody’s and AA- by both Standard & Poor’s and Fitch Ratings. In Asia, UOB operates through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, as well as branches and representative offices across the region.
Over more than eight decades, generations of UOB employees have carried through the entrepreneurial spirit, the focus on
long-term value creation and an unwavering commitment to do what is right for our customers and our colleagues.
We believe in being a responsible financial services provider and we are committed to making a difference in the lives of our stakeholders and in the communities in which we operate. Just as we are dedicated to helping our customers manage their finances wisely and to grow their businesses, UOB is steadfast in our support of social development, particularly in the areas of art, children and education.
1The eight intelligences are Body Smart (Kinesthetic); Logic Smart (Logical Mathematical); Music Smart (Musical); Nature Smart (Naturalist); People Smart (Interpersonal); Picture Smart (Spatial); Self Smart (Intrapersonal); and Word Smart (Linguistic).
2Created by Dr Branton Shearer in 1987, the MIDAS tool is based on the theory of multiple intelligences developed by Dr. Howard Gardner (Hobbs professor of cognition and education, Harvard Graduate School of Education)
3Based on the Bank’s data from October 2016 to October 2019 of UOB KidsSmart Programme solutions including the UOB Junior Savers Account, UOB One Account, UOB Income Builder and PruActive Saver.
4UOB Young Families Survey was conducted online in May 2016 and polled 447 UOB customers in Singapore with children age 12 years and below.
5Source: UOB Young Families Survey was conducted online in May 2016 and polled 447 UOB customers in Singapore with children age 12 years and below.
6Defined as married couples age between 25 to 29 who have children