OCBC takes complex face-to-face wealth advisory process online
StanChart Singapore also reports new highs in digital adoption rates
Singapore
OCBC on Tuesday said it has managed to take a "complex face-to-face process", involving more than 50 pages of documents and a comprehensive financial needs analysis (FNA) for wealth customers, from being completed at physical meetings to now be settled online.
Following the launch of its virtual wealth advisory service in April amid the "circuit breaker" period, the bank recorded a surge in the sale of wealth management products online. A 45 per cent increase in sales was registered in the first 10 days of the launch on April 18, compared to the prior 10 days, said OCBC in a press statement.
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