| Stakeholder Groups |
Trends, Interests and Concern |
Our Response |
Engagement
Method |
Frequency |
| Customers |
- With greater expectations regarding customer experience, and stronger demands for personalised experiences, artificial intelligence (AI) is utilised to dive deeper into customer insights.
- As the world's digital transformation progresses, customers are placing greater emphasis on data protection and privacy.
- Customers are starting to embrace a more sustainable lifestyle (such as using e-services as opposed to hardcopy forms).
|
- OCBC delivers superior customer experience and customer-centric products by leveraging new technologies. Riding on Singapore’s National Digital Identity (NDI) infrastructure and Singpass Face Verification, OCBC is the first bank in Southeast Asia to enable face verification for card-less ATM banking transactions. Our OCBC Business Mobile Banking platform also offers our Singapore SME customers data and insights on their sales, expenses and cash flow, to enhance their business and financial management.
- We continue to enhance our existing Framework and Policies, processes and controls to help intensify cyber vigilance across the Group. This year, we enhanced the Cyber Smart Programme to measure and uplift our employees’ knowledge, skills and demonstrated behaviour in managing risks associated with cyber security, data loss and social engineering.
- We actively promote products and offerings to encourage sustainable living. Our OCBC Climate Index 2022 continues to measure the current levels of environmental sustainability awareness and climate action among Singaporeans and provide valuable insights to help nudge behaviours and influence policy-making that will lead to a more sustainable world.
|
- Surveys, interviews and workshops to better understand our customers and benchmark ourselves against competitors
- Customer complaint tracking and problem resolution process/governance
- Cross functional projects focusing on improving customer experience and delivering our Brand Promise
- Employee training programme on human-centred design techniques to ensure our customers are the focus of the product development process
|
- Regular studies of customer interactions through qualitative and quantitative research methods
- Monthly tracking of service level performance via multiple channels and customer complaints
- Monthly reporting to senior management on customer service excellence
- Annual benchmarking against competitors
|
| Employees |
- As the nation moves towards the “new normal” of living with Covid, employees now place greater value in flexi-working arrangements.
- As work gets automated and digitalised, employees anticipate opportunities to learn new skills and constantly upgrade their technical skills.
- The pandemic has given rise to an increase in occupation transitions, leading to a talent crunch in the workforce.
|
- OCBC continues to adopt a hybrid working model to provide our employees with greater workplace flexibility to better manage their work-life balance.
- We launched the LifeRefresh@OCBC, a lifelong learning programme offering holistic support in career and financial planning as well as mental and physical wellness.
- We continue to attract and nurture young talent through OCBC’s new talent programmes such as the Science, Technology, Engineering and Mathematics (STEM) Internship Programme and OCBC IGNITE apprenticeship.
|
- Employee Engagement Survey
- Quarterly e-mails from Group CEO on OCBC’s accomplishments and objectives
- Divisional town halls
- Internal newsletter — OCBC Teller
- Focus groups and skip level sessions to obtain continuous feedback
|
- Biennial Employee Engagement Survey
- Ongoing engagement at division and department levels of employees globally
|
| Investors |
- As the demand for ESG from various investor-led institutions rises, investors are placing greater emphasis on quantifiable data to measure their investments in the short, medium, and long term.
- As the global demand for sustainable products is increasing, Singapore remains the regional leader in the ASEAN sustainable debt market, with a total issuance of US$13.6 billion in 2021.(1)
- With an increasing focus on the sustainability agenda within the company, investors now expect executive remuneration to be linked to ESG performance.
|
- To ensure data comparability, our disclosures adhere to industry guidelines and standards that are globally accepted and adopted, allowing for comparability against our global and local peers.
- We have increased our investment offerings across diverse sustainability investment themes such as food scarcity, water and climate change.
- We have set up a Board Sustainability Committee to ensure strong Board oversight over ESG issues.
|
- Financial reports and disclosures
- Annual Report
- Announcements on OCBC Bank’s website
- Announcements via SGXNet
- Results briefings and webcasts
- Annual General Meeting with shareholders
- Meetings, conferences and roadshows
- Corporate Day
|
- Quarterly briefing for earnings announcements
- Annual Report
- Annual General Meeting
- Regular meetings with investors
|
| Communities |
- The Covid pandemic has brought forth an increasing awareness of the importance of mental health. The financing gap for SDG 3 Good Health and Wellbeing remains one of the largest in Asia, requiring additional financing of US$371 billion per year.(2)
- An ageing population and inflation remain the greatest concerns in Singapore.
- The topic of biodiversity conservation is gaining traction in the community.
|
- The #OCBCCares Programme, through its initiatives, continues to offer targeted support to families, the elderly, persons with special needs and environmental sustainability initiatives.
- This year, we sustained our efforts to give back to society, especially the underserved communities. More than 238,000 individuals have benefited from our support which includes funding and employees' contribution of time and skills.
- We launched the OCBC Mangrove Park in Singapore and the Tebuk Mendeleng mangrove project in Malaysia, contributing to the growth of 18,000 mangrove trees to help fight climate change.
|
- Volunteer activities that have strategic long-term impact on beneficiaries and support the environment
- Events that engage the community at large
- Collaboration with partner organisations
- Evaluation and disbursement of donations and funds to beneficiary groups and ground-up efforts
|
- Regular disbursement of donations and funds to charity partners and educational institutions
- Regular volunteer activities throughout the year
- Annual signature events, including OCBC Cycle and OCBC Community Day in Singapore, OCBC Cycle in Malaysia and OCBC Wing Hang Little Debate in China
|
| Regulators |
- As the world's digital transformation progresses, the importance of data governance and security in deterring cyber threats continues to heighten.
- As the demand for sustainable finance products increases, there is heightened awareness of the risk of greenwashing.
- Amid increased efforts to combat climate change, regulators are placing greater emphasis on climate risk management and disclosure.
|
- OCBC adopts a holistic organisational approach across risk governance, people, process and technology to ensure cyber risks are managed and cyber resilience is achieved. Additionally, we leverage on fintech solutions to improve the effectiveness of our regulatory monitoring.
- We implement MAS EnRM Guidelines into our Responsible Financing Framework and Policies.
- We are consistently improving our climate-related financial disclosures, which are aligned with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). This year, we enhanced and integrated them into our Sustainability Report.
|
- Regular meetings and consultations with regulators
- Representation at industry forums of working groups
- Regulatory reports
- Audit reports
|
- Ad-hoc or regular engagement, depending on the circumstances.
|
