RHB Bank Singapore’s transformation journey secures Singapore Customer Experience of the Year - Banking title at the Asian Experience Awards

The bank continues to deliver exceptional customer experience through a comprehensive transformation journey focused on digital innovation and personalised service.

In an era marked by digital advancements and evolving customer expectations, RHB Singapore embarked on a bank-wide transformation exercise in 2020. This strategic initiative was driven by a focused effort to grow the Retail Banking Wealth and Regional Affluent segments, and it encompassed a holistic restructuring of the business model, extensive digitalisation of sales and service processes, introduction of innovative digital channels, and a complete refresh of its network of bank branches.

One of the pivotal guiding principles of RHB Singapore's transformation journey has been an unwavering commitment to delivering unparalleled customer experience. Recognising the importance of maintaining a balance between digital convenience and personalised interactions, RHB Singapore designed a channel strategy that blends digital banking channels, an easily accessible call centre, and strategically located, inviting branches.

A key cornerstone of the bank's transformation efforts has been the revitalisation of its branch network. All branches were strategically relocated and digitally enhanced to better serve the unique needs of their target customer segments. Notable amongst these is the Orchard Premier Center, which opened in 2021.

Nestled in the heart of Singapore's affluent shopping district, this branch combines modernity with tradition, drawing inspiration from the rich Peranakan heritage shared by Singapore and Malaysia. The Parkway branch, established in 2022, caters to consumer and business clients in the east of the island, whilst the Jurong East branch serves a bustling residential and commercial hub in the western region.

RHB Singapore's commitment to delivering a seamless digital experience is further exemplified by its mobile banking app, which has become one of the most frequently used customer touchpoints. New customers can establish banking relationships in a matter of minutes through the app, thanks to a streamlined process that includes instant account setup and digital Know Your Customer (KYC) checks. This approach significantly reduces turnaround times and enhances the overall customer journey.

In addition to enhancing its digital capabilities, RHB Singapore has focused on providing an array of product solutions and targeted campaigns. The bank's product strategy combines the best of traditional banking with the diversity of independent financial advisory (IFA) firms.

This includes offering a wide range of deposit products with competitive interest rates and providing access to best-in-class insurance plans underwritten by leading providers such as Singlife, Manulife, Income Insurance, and Tokio Marine. By adopting an "open architecture" model, RHB Singapore ensures that its clients have access to a broader range of products, thus enhancing its Premier Banking value proposition.

A significant aspect of RHB Singapore's success in delivering exceptional customer experience lies in its commitment to personal touchpoints. The bank boasts an experienced and dedicated team of relationship managers, treasury specialists, and bancassurance experts who are well-versed in banking and regulatory requirements. This enables regional clients to leverage the bank's cross-border expertise for comprehensive wealth planning and diversification.

The bank's unwavering dedication to customer satisfaction is evident in its consistently high Net Promoter Score (NPS) ranking, reaching the No. 2 spot in the industry for the past two years (2021–2022) as per an RHB annual customer survey conducted by research firm Ipsos.

Furthermore, recognising that customer engagement extends beyond delivering established service standards, RHB Singapore has introduced the "EQ at the Heart of Service" and "Leading with EQ" service training programmes in 2023. These initiatives aim to elevate service levels and deepen client engagement, demonstrating the bank's commitment to going above and beyond for its customers.

With these, RHB Singapore clinched the prestigious Singapore Customer Experience of the Year - Banking award at the Asian Experience Awards 2023. The bank is recognised for providing exceptional customer experience throughout its transformative journey from 2020 to 2023.

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].