OCBCx65Chulia has been designed to enhance the digital presence of the bank by integrating a banking lobby and heritage museum into an immersive and interactive space.
Singapore, April 5, 2023 – OCBC Bank has opened the doors to a different kind of banking experience on leading platform Metaverse Decentraland.
OCBCx65Chulia, which takes its name from the address of the bank’s headquarters on Chulia Street in Singapore, allows visitors to learn about OCBC’s historical milestones along with the latest banking products and services.
Users have the option to quickly open a bank account and request a credit card by accessing the bank’s website directly from the Metaverse platform.
Occupying nine parcels of virtual land, OCBCx65Chulia’s futuristic-looking spherical design is modeled after OCBC Bank’s iconic red logo, a nod to the bank’s rich heritage.
With the bank’s arrival in the metaverse, customers gain an access point an additional access point that also represents a new way to engage with young people.
The upcoming phase of OCBCx65Chulia, anticipated to be completed by Q3 2023, will introduce gamification to further enrich the overall user experience.
This enhancement of by a group of students from Nanyang Polytechnic’s Interaction Design Nanyang Polytechnic’s (NYP) Interaction Design Department.
In a hackathon held over two weeks in February 2023, 10 teams of NYP School of Design and Media students presented gamification ideas. The top two took home prizes sponsored by OCBC Bank.
OCBCx65Chulia grew out of an initiative by staff during an internal innovation campaign as part of the bank’s digitalization and transformation efforts.
To create the bank’s presence on Decentraland, the internal technology team collaborated with local company Web3 Memotics, which specializes in creating Memotics, which specializes in creating emotive and social spaces. digital architectural design.
The collaboration with Memotics and NYP reaffirms the bank’s commitment to the bank’s commitment to nurturing a pipeline of design and technology talent and to contributing to Singapore’s talent pool by providing opportunities for young design and technology talent.
Peter Koh, Head of Technology Architecture, OCBC Bank Group, said: “Many have doubted the purpose of the metaverse. Although it is a nascent and evolving space that we are still trying to understand, the metaverse remains one of the newest ways to make a connection. We are keen to leverage these, as they emerge, to reach a wider audience. At the same time, through experimentation and collaboration with an industry player, our younger colleagues can learn and develop.”
In the words of Professor Lim Sun Sun, Vice President for Partnerships and Engagement and Professor of Communication and Technology at Singapore Management University, “The metaverse was probably the most hyped trend of 2022. However, it has enormous potential to offer new forms of interaction and exploration that defy current spatial and physical limitations. The full realization of the metaverse vision may not come so soon, but companies experimenting with these emerging technologies can reap early dividends.”
Alan Kueh, founder of Memotics and director of AK+, said, “We saw a great opportunity to work with OCBC Bank to create a new design language in the digital space. By integrating heritage content with Web3 elements, we hope to inspire the next generation in an engaging way. Our vision at Memotics has always been to empower the creative minds of future generations to express themselves and break free from traditional constraints, co-creating the future through the use of Web3 technology and non-linear learning.”
Visit OCBCx65Chulia at:
https://play.decentraland.org/?NETWORK=mainnet&position=-19,-111
About OCBC Bank
OCBC Bank is Singapore’s longest-established bank, created in 1932 from the merger of three local banks, the oldest of which was founded in 1912.
It is now the second-largest financial services group in Southeast Asia by assets and one of the largest in the world. Asia by assets and one of the highest-rated banks in the world, with Aa1 by Moody’s and AA- by Fitch and S&P.
OCBC Bank is renowned for its financial stability and has consistently secured a place among the top 50 safest banks worldwide, as recognized by Global Finance. Additionally, it has been recognized as Singapore’s Best Managed Bank by The Asian Banker.
OCBC Bank and its subsidiaries offer a wide range of commercial banking services, commercial banking, specialized financial and management services consumer, corporate, investment, private and transaction banking consumer, corporate, investment, private and transaction banking, as well as treasury, insurance, asset management, and securities brokerage services.
OCBC Bank’s main markets are Singapore, Malaysia, Indonesia, and Greater China. China. It has more than 420 branches and representative offices in 19 countries and regions.
The OCBC Bank operates in several regions including Indonesia, where it has over 190 branches and offices under its subsidiary Bank OCBC NISP. It also has more than 60 branches and offices in mainland China, Hong Kong SAR, and Macau SAR under the name OCBC Wing Hang.
OCBC Bank’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open architecture product platform to source best-in-class products that meet its clients’ objectives.
Great Eastern Holdings, OCBC Bank’s insurance subsidiary, is the most well-established life insurance group in Singapore and Malaysia, with a long history. Meanwhile, Lion Global Investors, its asset management subsidiary, is among the biggest private asset management firms in Southeast Asia.
For more information, visit www.ocbc.com.
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