Bank of Singapore Ltd

 

 

A subsidiary of the OCBC Group

101 Cecil St, #01-01 Tong Eng Building, Singapore 069533, Singapore

Management Team - Philip L Spencer, COO, David Tan GM & Chief FINATIQ, Pearleen Chan GM, FINIXIS

 

REASONS FOR NOMINATION

·         Bank of Singapore (BOS) last year transformed itself into Singapore’s first pure Internet Bank with a mandate to aggressively pursue innovative e-Commerce initiatives in the Buyer-Advocate space. 

·         The strategies employed include: 

  1. Building in-house knowledge of core capabilities for long term differentiation
  2. Outsourcing non-core functions
  3. Leveraging on leading edge technology as business enabler
  4. Building strategic alliances to maximise opportunities
  5. Continually enhance customer experience to deepen and broaden relationships
  6. Building brand loyalty over time

·         At its launch, BOS was:

  1. First in market with Singapore’s only interest-bearing checking account that imposes no fall below fee as no minimum balance is required.
  2. First in the market to launch on-line loan and account opening applications
  3. First in market to put together a comprehensive suite of ASP services through alliance partnerships

·         In the future, plans include expanding into the Asia-pacific region on a “hub and thin spokes” model will help us reap economies of scale, aiding us in reaching our profitability targets.  Built to be rapidly scalable, this model allows for the regional expansion to ride on the capabilities already built for Singapore, thus requiring little further investment.

 

SUPPORTING INFORMATION: Please see attachment