OCBC, a major Southeast Asian bank, has deployed an agentic AI on its Helios platform to streamline private banking onboarding, potentially cutting account opening times in half.
Streamlined Compliance
The Helios platform uses AI to front-load compliance checks, eliminating the need for lengthy back-and-forth between the bank and customers.
This approach is a significant departure from traditional onboarding processes, where compliance checks often occur at the very end of the process. By shifting these checks to the beginning, OCBC can identify potential issues early on and prevent unnecessary delays.
AI-Powered Lead Generation
By automating compliance checks, OCBC’s AI system is also generating high-quality leads for its private banking business, which can then be pursued by the bank’s sales teams.
This shift in strategy has the potential to increase the efficiency of OCBC’s sales teams, allowing them to focus on higher-value activities such as relationship-building and client acquisition.
From Six Weeks to 15 Days
According to OCBC, the goal of implementing the AI-powered onboarding system is to reduce account opening times from six weeks or more to just 15 business days.
This is a significant improvement, and one that could make a major difference for customers who are eager to get started with their private banking services.
What this means: OCBC’s AI-powered onboarding system has the potential to make it easier and faster for customers to access private banking services, while also improving the efficiency of the bank’s sales teams.
This is a significant development in the world of private banking, where efficiency and speed are key differentiators. By leveraging AI to streamline onboarding, OCBC is setting a new standard for the industry.
