Bankbazaar Singapore – February 26, 2018
Singapore: In a move that is expected to improve the experience of its top customers, OCBC Bank has claimed that it has successfully installed facial recognition cameras with help from NEC Corporation, at its Holland Village branch.
This move is expected to help the bank identify its VIP customers almost on a real-time basis and provide them with better service as soon as they walk into the lounge. With this move, OCBC becomes the first bank in Singapore to use facial recognition technology in the customer domain to provide highly personalised services to its premier banking customers.
According to Pranav Seth, Senior VP and Head of E-business, Business Transformation, Fintech, and innovation Group at OCBC Bank, the bank has already received positive feedback from its customers who are impressed with the fact that the Premier Service Manager at the bank is approaching them as soon as they’re walking into the branch and providing them with special treatment.
Seth also said that if this move helps attain the degree of success that they are hoping for, it may be introduced to other domains besides customer service. The bank is committed to the cause of its customers and this new AI technology was helping further that cause.
The bank may use facial recognition and other AI technologies in the future to transform itself seamlessly to merge with a digital economy.
By studying behavioural patterns, understanding the purpose of visit of its customers, getting adequate feedback on its services, and making the customers feel welcome, experts believe that OCBC will be able to provide an elevated experience, thereby improving customer loyalty and quantum of business.
This new technology allows it to gather important data and precipitate the speed of delivery of its services.
This technology, implemented since 4 December 2017, has managed to gather important data, helping the bank analyse and track customer preferences and create services attuned to such choices.
The key feature of the technology is that customers don’t need to look at the camera to get recognised. The new cameras at OCBC Holland Village branch that employ the latest NeoFace technology, are expected to be fast and highly accurate.
NeoFace can be used to make online transactions safer and more seamless, improve accuracy, and speed of customer authentication needed for various digital applications, and tailor advertising campaigns and services after understanding the age and gender of customers through facial recognition.