OCBC Bank opens $5 Million three-in-one branch at newest Orchard Road mall
Singapore, 3 July 2014 – OCBC Bank has catered to several clienteles at once – including customers from foreign lands – with its branch at orchardgateway, the newest shopping mall on Orchard Road. The bank’s largest branch aside from its headquarters branch on Chulia Street, orchardgateway branch takes up 10,330 square feet over three storeys and showcases three distinct banking concepts. These are dedicated to three different customer segments: The affluent segment (OCBC Premier Banking), the youth and new-to-workforce segment (FRANK by OCBC), and the mass segment. Total build cost amounted to more than S$5 million.
In addition, OCBC Bank has for the first time stationed OCBC Premier Banking offshore relationship managers at a branch. Orchard Road famously draws shoppers from beyond Singapore, so overseas customers can attend to their banking requirements before plunging right back into the shopping belt. Previously, all offshore relationship managers worked out of OCBC’s offices on Chulia Street.
Mr Sunny Quek, Head of Branch and Group Premier Banking, OCBC Bank, said: "Customers’ needs are constantly evolving. This challenges banks to remodel the retail banking structure to meet those needs. A successful branch must be established from both the locale’s footfall mix and a firm grasp of consumer lifestyle patterns. That is why we invested S$5 million to put all three of our retail banking concepts under one roof. You literally grow up with the orchardgateway branch, starting by banking with an OCBC Mighty Savers account as a kid on Sundays, transiting to a Frank by OCBC account and credit card as a youth, and becoming our Premier Banking customer as your wealth accumulates with us."
Highlights of each concept space:
Full-service personal banking branch
OCBC Premier Centre
FRANK by OCBC Store
Added Mr Quek: "ochardgateway branch is the second branch in our network to use technology to provide completely paperless banking services. While technological innovations are on an upward trajectory in retail banking, brick-and-mortar branches continue to be needed as customers still want the human touch. This is why we continue to transform our branches to deliver an enriching omni-channel banking experience."
The orchardgateway branch operates daily from 11am to 7pm except on public holidays. It is located at 277 Orchard Road, orchardgateway, #01-16, #B1-12 and #B2-12, Singapore 238858.