To provide parents with the tools to help their children understand and develop the habit of saving
Oversea-Chinese Banking Corporation (OCBC Bank) has extended its Mighty Savers Programme, a children’s savings programme developed for its Singapore market, to Malaysia. Reportedly, the programme was also introduced in Indonesia earlier in July 2009.
The introduction of the OCBC Mighty Savers Programme in Indonesia and Malaysia is aligned with OCBC Bank’s strategic plan to deepen its market penetration in the region through a build-and-transfer approach. This involves transferring successful business models and product solutions to existing branches and alliances in overseas markets. The bank has claimed that the programme is especially appealing to parents as it allows them to leverage on the fun element and interesting tools and activities that it has developed to educate young children on the importance of saving.
Besides saving through the Mighty Savers Sticker and Card rewards programme, OCBC Bank (Malaysia) young customers will have the opportunity to perform their own banking transactions through the dedicated OCBC FastTrack lane which can be found at selected branches. Reportedly, OCBC FastTrack lane is a dedicated banking counter that is designed with young customers in mind. The bank has said that special steps will be placed in front of the counters to enable young customers, who are typically shorter, to perform their own banking transactions independently while maintaining eye contact with the Tellers.
Nicholas Tan, head of global wealth management, OCBC Bank, said: “The success of the OCBC Mighty SaversTM Programme in Singapore proves that such a savings programme not only builds enduring and emotionally engaging relationships between the Bank and its young customers but also makes business sense. It allows us to provide appropriate banking solutions to these young customers as they move through the various life stages.”