The Business Issue:
Headquartered in Singapore with a global network of 500 branches, OCBC is ranked by Bloomberg as the world’s strongest bank. OCBC recognized that the 150 tasks required to create a new account were not contributing to a very positive first customer interaction. With it laser focus on building positive customer relationships, the bank was determined to enhance the account opening experience.
Powered by Pega, the bank’s Relationship Opening Made Easy (ROME) solution has revolutionized the account opening process. Now, the 150 account opening tasks are embedded and automated, creating a seamless onboarding experience that enables OCBC staff to focus on the customer, and not on filling out forms. Key to the project’s success is Pega’s unsurpassed agility and responsiveness, which enabled OCBC to rapidly build and trial each part of the process. Now, OCBC offers the ultimate in transparency, as staff and customers can sit together, share one screen, and enjoy more personal interaction as an account is opened.
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- 40% higher customer satisfaction scores than competitors
- Significant increases in net promoter score
- Number of products sold during account opening increased by more than 10%
- Activation of add-on features increased as much as 50%