AI-Driven Disruption in Banking: OCBC’s Bold Move Toward Digital Service Optimization
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Technology has become an integral part of almost all business activities, from operations to customer interactions. In this context, companies are required to transform in order to remain relevant and competitive. Digital transformation, through the use of artificial intelligence (AI), has become a strategic approach to improving efficiency, innovation, and service quality, particularly in the financial sector. This research is important because AI not only changes how financial institutions operate but also reshapes customer expectations and experiences. This study aims to explore how OCBC Bank implements its digital transformation strategy with an emphasis on the use of AI to optimise financial services. It uses qualitative methods with literature studies from several sources, such as scientific articles, theoretical books, OCBC Bank's annual reports, official publications from OCBC, and previous studies relevant to AI and digital transformation in the financial sector. The researcher found that OCBC Bank has been actively involved in the use of AI and is one of the first banks globally to implement Generative AI for all employees. OCBC also focuses on leveraging AI in three key functions: personalisation and customer service, operational efficiency, and risk mitigation. The implementation of AI has proven to drive operational efficiency, accelerate service processes, and significantly enhance the quality of interactions with customers.
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