OCBC Bank invests $20m in Singapore

56 OCBC branches will now have a new account opening system.

In a release, Oversea-Chinese Banking Corporation announced the launch of its new S$20 million account opening system at all 56 OCBC Bank branches in Singapore.

This system is the result of a 16-month transformation programme that OCBC Bank initiated after customer research revealed a significant opportunity to improve and differentiate the account opening experience. Mr Anthony Johnson, Head of Business Transformation at OCBC Bank, said: “First impressions count. Our research revealed that no bank was going the extra mile to make account opening a hassle-free and engaging experience for the customer. This is what we have set out to do.”

The system is designed around two most popular products opened at branches – deposit accounts and credit cards. The Personal Financial Consultant (PFC) now takes about half the time to open a bank account, freeing up time to focus on understanding and addressing customer needs. About 85% of our new customers open a savings or current account as their first product and the OCBC Bank branch is the most popular avenue that
customers use.  

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

Tags: OCBC Bank, OCBC account opening system