OCBC NISP, Tbk: Leading the Way in Banking Innovation and Brand Excellence in Indonesia

Indonesia's premier bank is recognised for cutting-edge innovation and exceptional brand excellence in the financial services industry, ensuring they meet the evolving needs of their customers.

PT Bank OCBC NISP, Tbk, has emerged victorious, claiming the titles of Indonesia Brand Experience of the Year - Banking and Indonesia Product Experience of the Year - Banking awards at the Asian Experience Awards 2023.

The award for Indonesia Product Experience of the Year - Banking was presented to PT Bank OCBC NISP, Tbk, for its groundbreaking innovation, OCBC NISP Global Debit*. This innovative product, revolutionises the way customers manage their finances whilst travelling abroad.

The product offers customers the convenience of having cash withdrawals and spending transactions debited automatically in 12 currencies: IDR, USD, AUD, SGD, JPY, EUR, HKD, CHF, NZD, CAD, GBP, and CNH. This innovative solution empowers travellers to conduct transactions seamlessly whilst abroad, eliminating the hassles of multiple accounts and currency conversion fees. It ensures that customers can travel with peace of mind, feeling like "local citizens," by bypassing the uncertainties of foreign exchange rates.

The OCBC NISP Global Debit itself was developed with a deep understanding of customer pain points in cross-border mobility. Whether it's international business transactions or leisure travel, OCBC NISP recognised the need for a flexible and efficient solution. This feature caters to a wide range of customers, including smart savers, smart spenders, smart travellers, overseas medical treatment seekers, and international students.

Since the launch of the product, cross-border transaction volume has surged by over 250% year-on-year as of May 2023. This achievement underscores the positive impact of the product on the bank's asset under management (AUM) and debit card spending volume. The OCBC NISP Global Debit has strengthened Bank's position as a provider of comprehensive consumer banking services.

Moreover, the feature has set a benchmark for innovation in the banking industry, inspiring other financial institutions to follow suit. By pioneering this groundbreaking product, OCBC NISP has solidified its reputation as a forward-thinking bank committed to enhancing the lives of its customers.

OCBC NISP remains dedicated to refining and enhancing the Global Debit feature in response to evolving customer trends. This initiative represents the beginning of a series of innovations *aimed at providing even greater value to customers in the future.

In addition to the Indonesia Product Experience of the Year - Banking award, PT Bank OCBC NISP, Tbk also received the Indonesia Brand Experience of the Year - Banking award for its digital service proposition, NYALA. 

The project is designed to empower young productive Indonesians in their journey toward financial fitness. It stands out by targeting the mass to emerging affluent segment, which is often underserved by traditional banks that typically focus on only the affluent segment.

NYALA offers access to affordable financial products and services based on a tiered benefit approach tied to a customer's Total Relationship Balance (TRB), making it adaptable to a wide range of individuals. This includes affordable investment options, starting as low as IDR 20,000, catering to those new to investing. Beyond just financial products, NYALA is committed to enhancing financial literacy amongst its customers, offering financial literacy classes and access to certified advisors.

To make financial services easily accessible, NYALA integrates knowledge and branch experiences with self-service online accessibility through the ONe Mobile banking app. Additionally, a comprehensive financial fitness solution is available through the bank’s educational online platform, providing valuable resources for financial education.

The project also recognises the importance of digital advisory services, making over 90% of banking capabilities available through digital channels. Virtual Financial Advisors and Lifegoals services assist customers in their financial planning journey. Lifegoals helps customers define, plan, and monitor their financial goals, with calculations linked to their actual bank products for easy monitoring. On the other hand, Virtual Financial Advisors are available through chat or call to provide further financial guidance.

Balancing modern lifestyle needs with financial stability, OCBC NISP introduced NYALA Credit Card and NYALA Global Debit. These offerings cater to online and offline spending, both locally and internationally, promoting smart spending habits whilst maintaining financial fitness. Moreover, the bank revamped its customer loyalty program, Poinseru, rewarding active customers with points for their transactions and lifestyle spending.

PT Bank OCBC NISP, Tbk, has demonstrated its unwavering commitment to innovation and customer-centric banking services, earning prestigious accolades at the Asian Experience Awards 2023. As the firm moves forward on this journey of continuous improvement, it is evident that it is poised to offer even greater value to its customers in the future.

*formerly known as Global Wallet

The Asian Experience Awards is presented by Asian Business Review Magazine. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for providing meaningful brand experiences to stakeholders, please contact Jane Patiag at [email protected].