OCBC to train wealth advisers using generative AI

[SINGAPORE] OCBC has launched a generative artificial intelligence-powered training programme for its 900 wealth advisers in Singapore, shifting away from a coaching model that relied exclusively on in-person supervision, it announced on Wednesday (Apr 15).

The six-month initiative was developed over a year using large language models and proprietary customer data, and deploys GenAI to coach wealth advisers on competencies including investment advisory, client management, product mastery and wealth planning.

Before this roll-out, wealth advisory training was conducted one-on-one by supervisors.

“Wealth advisers can take up to three weeks to secure a training session with their supervisors, who typically have to coach up to 10 staff. This is in addition to having other responsibilities, resulting in inconsistent evaluation standards and feedback quality across different supervisors,” OCBC said.

The programme uses the bank’s anonymised proprietary insights on customer behaviours to generate realistic training scenarios.

“These include helping a customer to create an investment portfolio to address their long-term needs, identifying a customer’s risk profile, selling more sophisticated financial products or adjusting investment strategies in line with market movements,” the lender added.

“During each training session, the programme – available to wealth advisers on their work devices – dynamically adapts its responses based on what is said, engaging naturally as a customer would in a real-life setting.”

Following AI sessions, supervisors receive automated reports detailing an adviser’s specific competency gaps, allowing for more targeted in-person follow-ups.

Performance and expansion

Initial data from the first three months of implementation indicates that advisers using the programme secured double the number of weekly client appointments compared with those who had not yet undergone the training, OCBC said.

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Additionally, this group recorded a 50 per cent increase in revenue over that in the three months preceding the programme.

The bank said that it plans to localise and export the training platform to its markets in Malaysia and Hong Kong at a later stage.

Content in these regions will be adjusted to reflect local products, regulatory requirements and customer behaviours.

The programme covers advisers across three retail segments: personal banking, premier banking and private premier client.