OCBC Bank reports increased sales revenue from wealth management products
Date: Nov 22, 2012
Categories: Retail Banking
Singapore, November 19th 2012 – OCBC Bank knows that what is good for customers is also good for business.
In January 2012, OCBC Bank became the first bank to receive the Crystal Mark from the Plain English Campaign, based in the United Kingdom, for its wealth management documents - financial needs analysis form, unit trust,dual currency returns and mortgage insurance brochures.
Since receiving the Plain English Crystal Mark, total mortgage insurance premiums collected increased tenfold and average premium size rose by nine times this year, compared to the same period last year (January to October). During the same period, the number of new unit trust customers also grew by three times.
Mr Lim Wyson, Head of Global Wealth Management, said: “Relationship managers could, using the new marketing materials, easily explain the products to customers, and help them understand their financial needs with the intuitively designed financial needs analysis form. This has significantly improved our customer experience.”
Re-disseminated by The Asian Banker