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OCBC Bank’s online unit trust platform attracts over 80% new-to-product customers

OCBC Bank’s online unit trust platform attracts over 80% new-to-product customers

  • 15 May 2023

Newbie investors are warming up to OCBC Bank (Malaysia) Berhad’s (OCBC Bank) recently-introduced online unit trust platform which features the industry’s lowest investment amount of RM10 alongside the convenience of investing digitally.

According to OCBC Bank Managing Director and Head of Consumer Financial Services Ms Anne Leh, over 80% of the investors using the OCBC Online Unit Trust platform are entirely new to unit trust investments with OCBC Bank.

“We are pleased with the speed at which these newbie investors have responded to the innovation which continues to see good take-up from those who have come to enjoy its speed, convenience and manageable entry-level investment amount,” she said, adding that the entry level cost is about a hundred times lower than the usual entry level of RM1,000.

The platform is premised on the Bank’s overarching digital banking drive which has seen them focus on greater convenience to customers that goes beyond CASA deposits to encompass investments as well.

“The trend of banking online has long caught on; so, we figured the time was right to apply the learnings to the beginner investor’s investment journey with unit trusts as a further step along our digitalisation journey.

“So, now, from as low as RM10 – a sum unique to us at OCBC Bank – newbie investors can embark on their investment journey. While the younger set does tend to recognise the role of unit trusts in managing their wealth and achieving their financial goals, taking the first step can admittedly be daunting.

Mr Reuben Tan, Head of Wealth Management, OCBC Bank (Malaysia) Berhad and Mr Ng Say Young, Head of Digital Business, Consumer Financial Services, OCBC Bank (Malaysia) Berhad with the winning trophy for the Banking Category at the Malaysia International Business Awards 2023 by Asian Business Review

“By lowering the minimum investment amount, we are allowing our customers to start, understand and experience investing without risking too much of their capital. Letting our customers understand and get comfortable with investments is essential to the journey towards better money management and achieving their financial goals,” Ms Leh said.

In the first 4 months, 74% of the total buy transactions were investments featuring amounts below RM1,000. And 28% of the Online Unit Trust customers who invested under this amount subsequently made larger transactions, indicating they are receptive to the lower minimum investment amount to get them going.

OCBC Online Unit Trust offers 11 funds and is available on the OCBC Mobile Banking app where a list of funds is available to suit the Bank’s customers’ various risk appetites.

Ms Leh added that a growing number of millennials are taking the leap in this direction as well as they embark on their own digital banking journey.

“The platform is easy enough to engage in. Customers are provided with a brief description of the funds of their choice. As the customer navigates through the pages, they are presented with an interactive chart and may also see the asset allocation of the fund, country diversification and its top ten holdings. They also have access to the funds’ prospectus and product highlights sheet. These are simple tools and materials that help customers make the right decisions on their investment.

“It is exciting that more than 80% of customers who invest through our OCBC Online Unit Trust are new-to-product. This is an affirmation of the acceptance of our approach to reach out to the younger set which has its own set of comfort levels,” she said.

This digital convenience for investing in unit trust was recently recognised when the Bank won the Malaysia International Business Awards 2023 in the Banking category. The awards programme, presented by Asian Business Review, celebrates the achievements and success of companies in Malaysia in their pursuit of revolutionising their industries and leading amongst their competitors.

“Clinching this award just a few months after the rollout of OCBC Online Unit Trust is an encouraging sign that tells us we are on the right path,” Ms Leh said.

For details on OCBC Online Unit Trust, please visit our website at or download the OCBC Malaysia Mobile Banking app.



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