Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  Oversea-Chinese Banking Corp. Limited    OCBC   SG1S04926220

SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets
The feature you requested does not exist. However, we suggest the following feature:

StarHub : OCBC Bank and StarHub Spearhead Building of Singapore-centric 'We Economy'

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/09/2017 | 02:53pm CEST

Release date- 09102017 - Both companies will invest S$6 million over 12 months to build networks of partnerships across multiple industries and give customers better services, experiences and offers.

OCBC Bank and StarHub today announced the formation of Singapore's first bank-telco strategic partnership to drive Singapore's collaborative economy.

Also known as the 'We Economy', businesses globally are moving beyond conventional industry silos into an interconnected ecosystem to shape better business outcomes and customer experiences. The previously clear lines between different businesses and industries will eventually converge to meet customer needs in a unified manner - making life simpler.

This partnership between OCBC Bank and StarHub is the first step in a multi-year plan towards bringing together essential businesses across industries. These include transport, retail, insurance, health and wellness, and real estate. The partnership will welcome companies that share the same ideology to be part of its 'We Economy' ecosystem. By coordinating, involving others and drawing on each other's strengths and resources, 'We Economy' businesses will be able to discover new markets, effect change on a larger scale and deliver greater customer value in ways that surpass the efforts of any single entity or industry.

For a start, OCBC Bank and StarHub will be investing S$6 million in research and technology over the next 12 months. Jointly harnessing data insights, both companies will focus on understanding customer needs and delivering more relevant solutions, experiences and offers to the combined customer base of over 5 million. Both companies will also explore opportunities in Artificial Intelligence and Internet of Things to enhance customers' connected lifestyles at home, at work and on the go.

OCBC Bank and StarHub identified the potential of the 'We Economy' from working on two key thrusts for many years - digital innovation and customer experience.

OCBC Bank has introduced many firsts in Singapore. It was the first to roll out fingerprint biometrics (2015), voice biometrics (2015), speech recognition (2016), open APIs (Application Programming Interfaces) in 2016, specialised AI chatbots (2017) and transactional APIs (2017). OCBC Bank started the use of data analytics in 2002 to obtain deep consumer insights in its continuing drive to find new ways to better serve its customers. New customer propositions are further researched in its customer laboratory and robustly challenged by its in-house research teams. Every customer proposition is then delivered to consumers using strong customer experience design to ensure effective customer engagement. Popular products that have come from this disciplined process are OCBC 360 account, OCBC 365 credit card and Frank by OCBC.

StarHub, Singapore's first fully-integrated info-communications and entertainment service provider, innovates continually to bring greater benefits to customers, from streaming Asia's first 'live' Virtual Reality concert to enabling Singapore's first autonomous hotel room service robot and comprehensive mobile device after-sales support. Earlier this year, it also launched a new facility called Hubtricity to help accelerate Smart Nation initiatives and to showcase its deep capabilities in connectivity, cyber security and data analytics.

Mr Samuel Tsien, Group Chief Executive Officer of OCBC Bank said: 'This partnership is born out of the strong belief by both of us that by innovating together, rather than each doing its own thing, we can serve our consumers more comprehensively, effectively and efficiently. StarHub and OCBC have been very active in the space of digital innovation. Our partnership is the beginning and a part of a multi-year plan towards building Singapore's first 'We Economy'.'

Mr Tan Tong Hai, Chief Executive Officer of StarHub said: 'In this new economy, effective collaboration can drive business success. We are happy to team up with OCBC Bank, leveraging our shared strengths in digital lifestyle solutions and omnichannel engagements to deliver enhanced customer experiences. Our form of collective intelligence becomes even more vital as it enables us and our partners to anticipate and better respond to customers' evolving motivations and preferences.'

To mark the start of this partnership, Mr Tsien and Mr Tan today launched the first store-in-store at OCBC Bank's orchardgateway branch, which illustrates the benefits customers can expect out of the 'We Economy'.

Combining OCBC Bank's financial capabilities and StarHub's catalogue of info-communications and entertainment services, customers can now seamlessly manage their banking and digital lifestyle needs in one store. This store-in-store concept will be expanded in stages to cover more retail outlets.

In addition, all current and new customers affiliated with both OCBC Bank and StarHub can sign up at www.innovatingtogether.sg starting today, to receive an additional 3% rebate on their StarHub bills for 12 months. The rebate of up to $5 per month will be credited into customers' OCBC credit card or bank account. Customers can look forward to enjoying more perks as this partnership progresses. For full details, please visit www.innovatingtogether.sg.

(c) 2017 Electronic News Publishing -, source ENP Newswire

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on OVERSEA-CHINESE BANKING CO
10/09 STARHUB : OCBC Bank and StarHub Spearhead Building of Singapore-centric 'We Econ..
09/29DJOVERSEA CHINESE BANKING : OCBC Bank Issues EUR500 Million Bonds
09/28 OCT (Asia) plans to issue perpetual capital securities
09/20 Yanlord, Perennial's offer for Singapore's United Engineers fails
08/17 OVERSEA CHINESE BANKING : Increase in Shareholding in Great Eastern Holdings Lim..
08/03 OVERSEA-CHINESE BANKING CORP. LIMITE : ex-dividend day for interim dividend
07/26DJOVERSEA CHINESE BANKING : 2Q Profit Rises 22% On Year
07/13DJGroup Led by Yanlord, Perennial Offers to Buy United Engineers
07/13 China's Yanlord Land, Perennial to acquire Singapore property group for $1.3 ..
07/13 OVERSEA CHINESE BANKING : Divestment of Shareholdings in United Engineers Limite..
More news
News from SeekingAlpha
2016 OCBC Offers Growth At A Reasonable Price
2016 Quality Concerns Front-And-Center At DBS Group
2015 DBS Group Gives You What You Pay For
Financials ( SGD)
Sales 2017 9 258 M
EBIT 2017 4 955 M
Net income 2017 3 879 M
Debt 2017 -
Yield 2017 3,19%
P/E ratio 2017 12,37
P/E ratio 2018 11,25
Capi. / Sales 2017 5,20x
Capi. / Sales 2018 4,90x
Capitalization 48 187 M
Chart OVERSEA-CHINESE BANKING CO
Duration : Period :
Oversea-Chinese Banking Co Technical Analysis Chart | OCBC | SG1S04926220 | 4-Traders
Technical analysis trends OVERSEA-CHINESE BANKING CO
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 25
Average target price 12,0  SGD
Spread / Average Target 4,4%
EPS Revisions
Managers
NameTitle
Samuel Nag Tsien Group CEO & Non-Independent Executive Director
Sang Kuang Ooi Chairman
Ching Wei Hong Chief Operating Officer
Siew Peng Tan Chief Financial Officer & Executive Vice President
Khiang Tong Lim Head-Group Operations & Technology
Sector and Competitors
1st jan.Capitalization (M$)
OVERSEA-CHINESE BANKING CORP. LIMITED28.52%35 423
JP MORGAN CHASE & COMPANY13.56%350 172
INDUSTRIAL AND COMMRCL BANK OF CHINA LTD42.40%324 236
BANK OF AMERICA22.94%286 659
WELLS FARGO-2.47%270 639
CHINA CONSTRUCTION BANK CORPORATION33.09%239 293