Premier Banking clients in Malaysia would have for the first time several private banking capabilities that were previously never available to the segment through the introduction of the OCBC Wealth Account.
The new capabilities are available to Premier Banking clients of OCBC Bank (Malaysia) Berhad (OCBC Bank). They are the result of the OCBC Group Wealth Platform initiative which is poised to raise the Group’s regional wealth management standing and reach across geographies, now deployed at Bank of Singapore, Oversea-Chinese Banking Corporation (OCBC), and OCBC Bank. The platform is able to offer an expanded suite of products and a new asset classification framework for clients to build a robust investment portfolio that meets their ever-changing needs.
According to OCBC Bank Managing Director & Head of Consumer Financial Services Ms Anne Leh, the enhanced wealth management platform enables the Bank’s clients to manage and review their cash flows and returns better than ever before.
“This is possible through the OCBC Wealth Account which consists of one or more wealth portfolios that hold investment products and a multi-currency current account as a settlement account for the investment holdings. This approach enables a more meaningful portfolio performance computation to help our clients easily track the performance of their investments.
“With the OCBC Wealth Account, our clients can now take full advantage of market opportunities by optimising their investment power with our wealth financing solutions. They need now only to pledge their portfolio with us for extra funding, with no additional cash outlay required. The collateral value within the wealth portfolio will be automatically pooled so that our clients can use this pool to reinvest into our comprehensive suite of wealth products or diversify by tapping into key investment opportunities.
