OCBC Bank to Bolster Corporate Banking with Expanded Software Engineering Team in Shenzhen

By Madz Dizon

Jun 10 2024, 09:35 AM EDT

OCBC Bank to Bolster Corporate Banking with Expanded Software Engineering Team in Shenzhen — JOHANNES EISELE/AFP via Getty Images

Executives of OCBC Bank in Shenzhen, a center of high technology, stated that the bank's intention to grow its software engineering staff will give it an advantage in the corporate banking market.

OCBC Bank Boosts Software Team in Shenzhen for Corporate Edge

In addition to the 400 engineers it already employs in its regional engineering hub, Singapore's second-largest bank said in May that it would employ 300 highly qualified engineers in China over the next three years.

Most of the staff will be located in the Shenzhen office, where the bank has significantly increased its number of engineers from 20 to 30 in 2018, now totaling over 260.

Improved technological skills would help the bank better service clients, including Southeast Asian and Greater China enterprises, which are expanding quickly, Strait Times reported.

By logging onto a single platform, consumers will find it easier to examine their finances and manage their money across many regions as the bank strives to standardize more of its digital systems.

OCBC China Eyes Tech Sector Expansion in Shenzhen Market

Mr. Liu Dawei, general manager of the Shenzhen branch of OCBC China and regional head for southern China, stated that the greater emphasis on technology will help the organization's operations and OCBC's business in China. One example of this is through streamlining internal procedures for employees.

According to Mr. Liu, the bank must establish a robust customer base in Shenzhen, a city known for its concentration of technology, media, and telecommunications (TMT) clients. The bank aims to offer appealing services and products to cater to the needs of these customers.

According to the speaker, the bank plans to expand the product capabilities it has developed to other areas of its China business, including Beijing, which is also a prominent tech hub.

OCBC has a dedicated team of 50 relationship managers across Singapore, Malaysia, Indonesia, Vietnam, and Thailand to assist Chinese companies in entering the Asean market. Malaysia, Indonesia, Singapore, and Greater China are important markets for the bank.