OCBC unveils AI avatar wealth app  

Oversea-Chinese Banking Corp (OCBC) will reportedly recruit additional relationship managers over the next three years as it begins trials of a new AI-based application for wealth clients. 

As per a report by Reuters, the bank plans to hire another 600 relationship managers. 

The app launch forms part of OCBC’s Next Frontier Strategy, set out in February, which places AI, digital services and data at the centre of its next phase. 

Group chief executive Tan Teck Long said the bank was “changing the face of banking” through the use of avatars and tailored services, beginning with wealth management. 

The new application, called OCBC WoW, uses two avatars to provide wealth-related services on a real-time basis around the clock. In the trial version, Wendy and Wayne will communicate with users by voice or text.  

The bank said WoW refers to its “Whole-of Wealth” approach across the group. 

The trial will first be made available by invitation to selected staff and clients.  

Those invited have at least S$1.5m in assets under management and are served by OCBC Premier Private Client Advisers. 

In the initial version, the app will provide live news and market updates linked to a client’s portfolio, price data covering seven indices and commodities with a planned increase to 12, and OCBC research and views together with their effect on the client’s holdings. 

The system is built on four technology layers.  

The first brings together live market information, OCBC research and insights, and client portfolio, transaction and behaviour data. The second applies AI guardrails.  

The third uses AI agents to build intelligence at scale. The fourth produces the functions seen and used by clients. 

Earlier this year, OCBC’s consumer banking business introduced a generative AI training programme for its wealth advisers in Singapore.  

Last year, Bank of Singapore, OCBC’s private banking unit, introduced an agentic AI source of wealth tool.