Unit Trusts on OCBC Online Banking Qorus Banking Innovation Awards 2015

Unit trusts have been available for many years in Singapore – through advisors located at retail branch locations and online banking platforms. Unit trust sales through online platforms constitute a small percentage of total sales. OCBC met up with prospective and existing investment customers. From these conversations, we understood the issues that customers face while investing. New-to-investment customers were overwhelmed by the number of choices. Customers who had bought unit trusts were disappointed with the lack of information on their holdings. We have addressed main customer pain points and delivered a compelling platform for both savvy and first-time investors through: Simplicity: Instead of overwhelming customers with hundreds of fund options, we narrowed down the available funds to only the top 60-70. We then highlight a handful top fund ideas that we are most positive on based on market outlook, in order to make decisions easier. Accessibility: We make it simple and easy to invest. Customers can open an investment account online and start investing immediately from $100 a month. Personalisation and advisory: We make it easy for customers to monitor their investments after purchase. Customers can set price or value alerts and will be automatically notified via SMS or email when funds they hold hit their pre-set level. We also send them alerts specific to their holdings on macro-economic events that affect their holdings. Unlike other banks’ online services, OCBC’s online unit trust platform offers a seamless experience, from making an investment decision, purchasing, and subsequent monitoring of investment holdings.