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Recently, our alert staff helped to prevent two love scams. At our Ang Mo Kio Central branch, a female customer in her 40s wanted to transfer USD$30,000 for “lawyer fees” to a personal account in Turkey. Service Ambassador Yeo Xuan Bing (middle) alerted Service Officers Jefferson Yeo (right) and Leung Jia Hui (left). It turned out the money was to help the customer’s detained “British architect boyfriend”, whom she had never even met. The Service Officers showed the customer newspaper clippings of online love scams, and stopped the funds transfer. Jefferson’s advice to customers: Don’t believe in the “sweet talk of online lovers”, and always seek professional advice before making any financial transactions. At our Toa Payoh Central branch, a female customer in her 40s insisted on remitting $113,000 to a personal account for "anti-money laundering" purposes, as her “husband's luggage was detained at the Indonesian customs”. Service Officer Kenneth Chia alerted Customer Service Officer Lena Tan of his suspicions. After much persuasion, the transfer was stopped. Good job!
As partners of the Start Digital scheme, we are proud to see that it has helped so many Singapore businesses digitalise. Take Mr Faisal Masri, founder of branding and marketing outfit 3D Brand Agency. With the help of our Start Digital solution, he digitalised his accounting and HR processes.
With the continuing tug-of-war between positive and negative headlines and market expectations of falling interest rates, the Singapore bond market may remain volatile in the months ahead. OCBC Bank credit analyst Andrew Wong discusses how investors should go back to basics in their approach to bond investing, in light of this challenging environment.
At the launch of the two-day Future Smart Learning Festival at OCBC Campus, Group CEO Samuel Tsien interacted with Nadine, a socially intelligent robot. Said Mr Tsien, “We shouldn’t be fearful of artificial intelligence (AI). "AI is only a result of our knowledge; while it can now be accumulated in robots to carry out certain tasks, humans will always be in charge." He encouraged all employees to have a mindset change and to upskill themselves while leveraging on technology in this increasingly automated workforce.
Bonds could be difficult to sell when trading volumes are low, which limits an investor’s ability to sell the bond. This is typically the result of a lack of interest in the market for certain classes of bonds, which commonly occurs in bear markets.
Our PayNow collaboration with Republic Polytechnic makes school fee payment easier for students and their parents. They just need to scan a quick-response (QR) code on the student portal with their mobile phones.
Are we on the cusp of a trade truce between US and China? Selena Ling, Head of Treasury Research & Strategy, highlights some of the possible outcomes of the US-China trade war and what this means for the Singapore economy at the recent The Straits Times Global Briefing.
Our presence in Myanmar dates back to 1923 when the Oversea-Chinese Bank, one of the three banks that merged to form OCBC Bank, set up their first branch in Rangoon (now known as Yangon). We had branches in Yangon and Lashio before the banking industry was nationalised in 1963. We later returned with a representative office about two decades ago before opening our full branch office in Yangon in 2015. Yesterday, we celebrated the 4th anniversary of this branch. Every anniversary is a celebration of our partnerships in this country. We are humbled to have played a part in developing its infrastructure, healthcare and education sectors together with our customers – both local and overseas.
Feel the fear and do it anyway – that’s Eugene’s life motto. Five years ago, he took up rock climbing to conquer his fear of heights and it has become his favourite hobby ever since. At work, he adopts the same mindset and is not afraid to take on new projects in the digital strategy team, actively picking up new skills along the way. #PeopleOfOCBC
With the G20 summit just a few days away, markets remain on tenterhooks over the “extended meeting” scheduled between United States President Donald Trump and his Chinese counterpart Xi Jinping. Our Head of Greater China Research, Tommy Xie, shares his views on how to interpret the on-going US-China tiff.
