Singaporean lender OCBC announced a significant step in its artificial intelligence ( AI ) strategy with the launch of what it describes as Southeast Asia's first AI-native banking app, introducing digital avatars designed to deliver personalized wealth management services around the clock.

Called OCBC WoW, the new mobile platform marks the bank's latest effort to integrate AI, digital capabilities and data analytics more deeply into customer engagement. The rollout will start with affluent wealth management clients before expanding to broader banking and lifestyle services.

At the centre of the platform are two AI-powered virtual assistants, Wendy and Wayne, which interact with customers through either voice or text.

Unlike conventional chatbots that respond only to queries, the avatars continuously monitor customers' investment portfolios, analyze market developments in real time, and proactively deliver personalized insights and investment ideas tailored to individual portfolios and risk profiles.

Hyper-personalization

OCBC Group CEO Tan Teck Long points out that the initiative signals a fundamental shift in how banks engage customers. "We are changing the face of banking," he says. "Starting with wealth management, we are transforming how we engage customers with the use of avatars and hyper-personalization on a real-time basis, 24/7."

Initially, OCBC WoW will focus on serving customers of its Premier Private Client segment, comprising individuals with at least S$1.5 million ( US$1.15 million ) in assets under management. The beta version will be released on an invitation-only basis to selected employees and customers before a wider rollout at a later date.

According to the bank, its AI-native architecture enables new features to be developed and deployed rapidly through continuous experimentation and prototyping, allowing successful ideas to be refined and scaled more quickly than traditional technology development.

The launch is also in line with OCBC's broader "Next Frontier" strategy, which places AI, digital technology and data, collectively known internally as ADD, at the heart of the bank's future growth.

Advanced portfolio intelligence

The AI-powered app provides customers with personalized market news, live market prices, OCBC research and investment insights, portfolio tracking, and tailored investment ideas based on their financial goals and risk profile.

A distinguishing feature is its advanced portfolio intelligence, which analyzes underlying asset exposures and sources of investment risk,  giving customers a clearer understanding of how market events affect their holdings.

Behind the customer interface is a four-layer technology architecture that combines real-time market data, proprietary research, customer portfolio information and behavioural data. AI guardrails are embedded into the platform before AI agents generate personalized analyses and recommendations presented through the digital avatars.

These safeguards are designed to enable always-on wealth management services while maintaining security and responsible AI governance, the bank says.

The launch builds on a series of AI initiatives introduced across OCBC over the past two years.

Earlier this year, the bank introduced a generative AI-powered coaching programme for wealth advisers in Singapore. Advisers who completed the programme secured twice as many weekly client appointments as peers who had yet to undergo the training, while revenue increased by 50% compared with the previous three months, OCBC says.

Agentic AI tool for wealth reports

Meanwhile, Bank of Singapore, the group's private banking arm, has deployed an agentic AI tool that automates the preparation of source-of-wealth reports for regulatory compliance. The system has reduced report preparation times from around 10 days to approximately one hour, allowing relationship managers to devote more time to client engagement.

OCBC plans to steadily expand the capabilities of WoW beyond investment services. Future enhancements could include support for Mandarin, Bahasa Melayu, and Bahasa Indonesia, personalized insurance solutions, broader banking services, additional digital avatars, and rewards linked to customers' investment milestones and lifestyle preferences.

OCBC says the platform will help wealth advisers better understand customers' investment needs, allowing them to engage clients more proactively and potentially influencing them to entrust more of their assets to the bank.