OCBC Bank provides training programmes for its employee to upgrade their self-development and skills for work. For example, new sales employees have to undergo training program to increase their product knowledge and to upgrade their customer service skills. The reason why they are able to be one of the top banks is because of good customer service provided to the mass. Good customer service starts from the company and how they invest the money on training programs to upgrade the employees’ skills.
OCBC Bank has won awards regarding its advertisement for its credit cards, this is the result of their marketing and sales strategies. With appropriate marketing approach like through social media, it will help to maximize in the profits. Frank by OCBC was released after a series of surveys, this is one of their successful marketing strategies.
To ensure that operations run smoothly without any audit issues, OCBC Bank ensures transparency within the organisation. This is to show its credibility to potential investors, existing stakeholders and shareholders. OCBC Bank has to comply to rules and regulations set by the Monetary Authority of Singapore.
OCBC Bank uses technology to ensure that the daily banking operations are running smoothly everyday. OCBC Bank depends on its IT infrastructure to ensure that there is no hacking and no system lagging, so when the customers are doing their daily banking transaction through the ATMs and internet banking, there will be minimal errors.
Value Chain of OCBC Bank
The customer service officers conduct anti-money laundering searches to check whether new customers are eligible to open an account with the Bank. It is necessary to conduct this check so to ensure that there are no criminal records or any ongoing litigation. These requirements are set by Monetary Authority of Singapore (MAS) to ensure that there are transparency in the daily transactions.