OCBC's tech investments poised to boost growth prospects

Its in house AI unit is set to improve operating efficiency.

OCBC’s staggered tech initiatives are charting a positive growth trajectory for the bank as the combined efforts to digitise its systems are set to improve operating efficiency in the long-run, according to UOB Kay Hian.

This includes a move by the Singaporean bank to power its in-house AI unit, AI Lab@TOV, with a $10m investment to drive AI adoption across its commercial banking services.

UOB also lauds the bank’s tech investments in its app as retail customers are now able to do their banking transactions and cashless payments using only their voice using OCBC Mobile Banking and OCBC Pay Anyone apps using virtual assistant Siri.

“It is encouraging to see OCBC embarking on many IT initiatives to improve efficiency,” said UOB analyst Jonathan Koh.

The report also points out that the bank can further boost productivity by trimming its headcount with intensified IT investments as it posts the largest headcount at 29,174 amongst local banks.

Also Read

Cambodia enables QR payments from foreign e-wallets through Alipay+

Hong Kong to rename ‘virtual banks’ to ‘digital banks’

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit