Customer insights are “crucial” for executing
payment innovation, according to Kenneth Tan, head of debit cards
and vice president at Singapore’s OCBC Bank.
Tan added that testing and learning from
customers’ ideas, as well as collaborative execution are further
key steps in the process of creating innovative products, such as
the OCBC YES! Card.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Speaking at VRL’s Retail Banking / Payment
Innovations 2011 conference in Singapore, Tan explained that in
addition to customer engagement, innovation in payments involves
delivering services that are simple and relevant for consumers,
rather than just being “fancy”.
Launched in 2010, the OCBC YES! Card combines
a contactless Visa payWave debit card with ATM, NETS and EZ-Link
services.
In 2010, OCBC also launched the OCBC Elite
World Card, which is targeted at high net worth individuals and
provides features, such as a 24-hour global concierge service and
privileged access to exclusive events.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
