OCBC Pilots AI Avatar Banking App for Clients With Over S$1.5 Million AUM

OCBC has introduced an AI avatar banking app for selected wealth customers in Singapore. The beta version of OCBC WoW will first be offered by invitation to employees and customers served by OCBC Premier Private Client wealth advisors. These customers have at least S$1.5 million in assets under management with the bank. OCBC WoW features two avatars, Wendy and Wayne, who can interact with customers through voice or text. The app shows customers their investment portfolios, provides personalised market news and data, and shares OCBC Group insights and investment ideas across markets, geographies, currencies and themes. It can also analyse portfolios, highlight exposures and risks, and show how market developments may affect a customer’s holdings. OCBC expects this to help customers make more informed investment decisions while giving its wealth advisors a clearer view of client needs. Tan Teck Long Tan Teck Long, Group CEO, OCBC said, “Starting with wealth management, we are transforming how we engage customers with the use of avatars and hyper-personalisation on a real-time basis, 24/7. The ability to roll out new features in quick succession in a viable manner is made possible because of an AI-native environment. Hyper-personalisation goes from being a buzz word to being a reality with intelligence built into the foundation. With ADD – AI, Digital, Data – at the core of our growth push, we are very excited that OCBC WoW is only the beginning.” The app is built on an AI-native environment that brings together real-time market data, OCBC research, customer portfolio information, transaction data and behavioural insights. It also uses AI guardrails and agents to support the information shown to customers. OCBC WoW currently offers curated market news, price data from seven indices and commodities, OCBC house views, portfolio tracking and investment ideas based on a customer’s profile and risk appetite. The bank plans to expand market price data coverage to 12 indices and commodities over time. Wendy and Wayne will initially engage customers in English. OCBC plans to add Mandarin, Bahasa Melayu and Bahasa Indonesia later, along with insurance solutions, banking services, more avatars and lifestyle-related rewards. A wider rollout of OCBC WoW is expected later, with the timing to be announced.