Credit Card Initiative of the Year - MALAYSIA OCBC Bank (Malaysia) Berhad
OCBC Al-Amin reaching out through Xpres branches
I
slamic Banking is gaining popularity among not only Muslims but nonMuslims as well in Asia. On its part, OCBC Bank sees this as an opportunity to offer an even broader array of competitive and innovative financial products and services to consumers and businesses. And it recently started doing so through the Xpres branches of its Islamic banking subsidiary, marking a milestone in the four-year journey of OCBC Al-Amin Bank Berhad. When OCBC Bank (Malaysia) Berhad unveiled OCBC Al-Amin in December 2008, the company already had thirteen years of Islamic banking experience under its belt, having previously offered such services through a “window” since the midnineties. After the first OCBC Al-Amin branch opened at Jaya One, Petaling Jaya, the network quickly expanded to five. Three more branches would soon be added but not before a shift in strategy. Prior to the opening of the last three Muzir Kassim, Head of Consumer Financial Services, OCBC Al-Amin and Syed Abdull Aziz Syed branches, referred to as Xpres, research was Kechik, Director & CEO of OCBC Al-Amin at the newly-opened Bukit Bintang branch in Malaysia. carried out to determine what customers wanted from their Islamic bank. and provide a convenient touch point closer Account and i-Great Bakti Takaful. This gave rise to a new to where existing and potential These products are also available at all approach that catered customers work and live. 31 conventional OCBC Bank branches specifically to those wishing These Xpres branches hold nationwide. “We are working to perform their banking towards providing on strongly to OCBC Al“We expect our approach to resonate transactions closer to where quick access and Amin’s new brand essence of with the younger set, especially working they work/live/play. ‘fresh and simple banking’ professionals, who are looking for simple yet effecSo, in 2012, the three tive Shariah bank- derived from the insight that simplicity and convenient locations at inaugural Xpres branches ing solutions to our “simplicity” in language, which to do their banking even outside were opened, becoming the processes and documentation regular banking hours. We are working customers.” country’s first standalone puts customers at ease and towards providing quick access and simple seven-days-a-week Islamic gives them control over the situation as yet effective Shariah banking solutions to branches. Open daily from 10am to opposed to just hopping on for the ride. our customers. Our target is to be top-of10pm, the three new branches, at the This is important for OCBC Al-Amin as mind among young working professionals Bukit Bintang monorail station, Balakong it tries to broaden its appeal from OCBC and ultimately become their one-stop and Taman Melawati, are part of a larger Bank’s traditional strength in the older, banking partner,” says Syed Abdull Aziz strategy to expand the Islamic bank’s reach more affluent segments to the younger, Syed Kechik, Director & CEO of OCBC new-to-the-workforce customers. Al-Amin. These branches thrive on a self-service OCBC Al-Amin is planning to open ten platform where customers are empowered more Xpres branches at locations that are to perform banking transactions relevant to the target segment in the next themselves. They come equipped with phase of the re-launch strategy. ATMs, cash deposit machines and an on-line application process with lean and effectively trained personal financial CONTACT assistants to help in all matters. In addition, OCBC Bank (Malaysia) Berhad there is round-the-clock security as part of Menara OCBC, 18 Jalan Tun Perak, the OCBC value proposition. 50050 Kuala Lumpur Among the products available are the General Enquiries 1300 88 5000 attractive Manarat Home-i Financing, www.ocbc.com.my Cash-i Personal Financing, Wafi-i Deposit The Xpres Branch in Balakong, Malaysia ASIAN BANKING AND FINANCE | MARCH 2013
15