OCBC Bank creates new role to drive and accelerate transformation
Oversea-Chinese Banking Corporation Limited (“OCBC Bank”) today announced the creation of a new role, Group Chief Operating Officer (“Group COO”), for a unified leadership to drive and accelerate transformation. The Group COO will build on the Bank’s strong track record of innovations and transformation in the use of technology, data and design to develop solutions and customer journeys that meet the changing needs of individuals and businesses. Many first-to-market digital solutions have been rolled out over the years to create a strong competitive edge in customer experience and digital banking. These include a fully digitalised loan application and instant approval service, and an enhanced process that enables start-ups to open an account immediately after incorporation.
To spearhead the Bank’s next phase of transformation, Mr Lim Khiang Tong, 59, who is currently OCBC Bank’s Executive Vice President and Head of Group Operations & Technology, will be appointed the Group COO with effect from 21 June 2021. Mr Lim will report to Ms Helen Wong, the Group CEO.
Mr Lim will continue to oversee his existing portfolio of responsibilities including the operations and technology functions. He will also focus on intensifying the Bank’s capability building and competency alignment in technology, data science and analytics and design.
Mr Lim has over 30 years of management experience in strategic technology development, information technology, process-reengineering, project management and banking operations. He was conferred the IBF Distinguished Fellow award in 2020 in the area of technology by the Institute of Banking and Finance Singapore (IBF). The IBF Distinguished Fellow title recognises Singapore industry leaders who are the epitome of professional stature, integrity and achievement. That year, Mr Lim was also named Digital Transformation Leader in Singapore by the International Data Corporation, a global market intelligence firm in information technology, in recognition of his role in accelerating the Bank’s digital transformation efforts.
Mr Lim joined the Bank’s IT Management team in 2000. He was appointed Head of IT management in January 2002. He was promoted to Executive Vice President and Head of Group Information Technology in December 2007. In May 2010, he assumed the role of Head of Group Operations and Technology.
Mr Lim has significantly expanded and strengthened OCBC Bank’s technology architecture and operations including the development of OCBC Regional Data Centre – the first purpose-built data centre to be owned by a Singapore-based bank.
OCBC Bank Group Chief Executive Officer, Ms Helen Wong, commented: “It is strategically important to continue to establish OCBC as a leading digitally-empowered financial services group in an evolving business environment. I am therefore pleased to appoint Khiang Tong, better known as KT, as the Group Chief Operating Officer to drive our next phase of change and transformation. This is an expanded role that KT will take on to optimise and intensify our investments in technologies, products, processes and people even as he continues to ensure the smooth running of the Bank. KT has been instrumental in building our operational and technology capabilities and in driving our digital transformation efforts. He is highly regarded by colleagues, business partners and industry peers. It is only fitting that KT assumes this new role.”