Bespoke and bilingual financial services help ease hotelier's move to Singapore

WHEN hotelier Fiona Lu came to Singapore earlier this year to explore investment opportunities, one of the first things she needed was a local bank account. However, the native Mandarin speaker was initially concerned about the difficulties she might face due to the language barrier.

Her worries faded away quickly as the OCBC Digital app's bilingual interface allows a seamless switch from English to Mandarin.

"Being able to conduct my banking in Mandarin makes setting up my banking needs in Singapore so much easier, and the app is very easy to use," says the 31-year-old general manager of her family's luxury hotel in Ningbo, China.

While technology has clearly transformed banking in the digital age, what makes the 91-year-old bank stand out is the real-world human-to-human connections. A friend had recommended OCBC to Lu, citing the bank's long history of presence in the Chinese mainland market.

Lu still remembers vividly her first visit to OCBC Singapore's Chulia Street head office, where various artworks of Chinese painting and calligraphy are displayed, showing a deep appreciation of Chinese culture.

"Walking into the office for the first time, I immediately felt a sense of familiarity," she recalls.

Bespoke wealth management

At OCBC, premier foreign clients like Lu looking to move to Singapore for work or to invest in the region are supported by a dedicated relationship manager (RM) and a team of experts including an investment advisor, an FX specialist and an insurance specialist, to meet their individual needs. Besides the seamless digital banking experience, Lu is won over by the thoroughness and reliability of her RM Sam Meng.

"When discussing my wealth management needs, Sam didn't just push products. Instead, he took the time to understand my plans, both personal and corporate, as well as my short- and long-term arrangements, which made me feel at ease," she says.

Even though the OCBC Digital mobile banking app allows global citizens like Lu to perform daily transactions on-the-go and check her accounts and investments in real-time, her RM goes the extra mile by helping her to keep tabs on the dynamic changes in the financial world, no matter which part of the world she is in.

Meng himself relocated to Singapore a decade ago, which explains why he can understand and anticipate his clients' needs well. "Besides helping clients navigate financial complexities regionally, I build good relationships with them so they feel safe to share their thoughts and needs," he says.

Almost every week, Meng provides a value-added service of helping Lu keep track of market-moving events and monitoring the movements of pre-selected currency pairs so that Lu can lock in favourable FX rates.

Lu, who regularly shuttles between China, Singapore and Australia, uses an OCBC debit card that links to both a Singapore dollar account and a multi-currency account, enabling her to store and transact up to 10 major foreign currencies.

"I travel to many places and This saves me time and effort as I don't have to worry about carrying multiple cards or handling different currencies," she says.

Convenience under one bank

Whether it's expanding the family's hotel business or investing in property in Singapore, Lu appreciates OCBC's regional presence and holistic approach to supporting her multifaceted needs.

She says: "OCBC offers a lot of meta-services in the Asia-Pacific region, eliminating the need for me to split my needs across different banks. Be it personal, corporate or even private banking which I'll be considering in the future, I like that all my needs can be served by OCBC under one group."

Such synergy arises from OCBC's distinct competitive edge as the only local bank with an insurance arm, Great Eastern Holdings, and is bolstered by various wealth management subsidiaries such as private banking under Bank of Singapore, investment products under Lion Global Services and brokerage services under OCBC Securities.

As Meng puts it: "At OCBC, we view our clients' needs holistically, across all their life needs, and not just investments. This allows us to understand them better and deepen the client relationship."

"OCBC is expanding its presence in Asia-Pacific, which is similar to the vision I have for my company. Its regional presence also allows me to be conveniently served in the areas I need to be," Lu adds.

Beyond regular financial services, the bank also assists customers with their lifestyle needs. OCBC Premier Banking RM Janeane Ng shares that RMs may even go beyond the call of duty to support clients in unique ways. For instance, she once helped the son of a Japanese client secure a job in Singapore upon knowing that the young man was looking to relocate here.

Ng says: "It gives me great satisfaction when I'm able to connect with individuals and provide them with the right financial solutions. This builds trust among our clients, giving them peace of mind that their needs are well taken care of."

Having enjoyed the convenience of banking with OCBC, Lu says: "Since starting my journey with OCBC this year, I've referred their services to my best friend and will continue to refer them to others in my network."

Visit this website to find out how OCBC can help you achieve your wealth management aspirations in Singapore and the region.