It says the service enables the bank to anticipate demand and prepare for each encounter with its customers
[SINGAPORE] UOB has launched an online booking system for customers who require branch services, as banks rethink the role of physical outlets amid a broader shift towards digital banking.
The system will enable retail and corporate customers to book branch appointments online with instant confirmation, it said in a statement on Thursday (Oct 1).
“The platform also allows us to better anticipate demand and prepare for each interaction,” said Benny Chan, managing director for group channels and digitalisation at UOB.
Customers can use the platform for more than 25 services, ranging from everyday transactions to advisory and wealth services, such as banker’s guarantee applications, cashier’s orders and updates to account particulars.
For services that can be performed digitally, the booking site will display the relevant link so customers can decide if they wish to self-serve or continue with their branch appointment, UOB said.
UOB conducted a pilot across six branches in July and August, finding that almost half of all customers who used the appointment booking services were aged above 50.
Among the bookings made during the pilot, around half were for advisory services such as account openings, business solutions and investment-related services.
Changing of account particulars and applications for cashier’s orders and demand drafts were also among the most popular transactions.
Checks by The Business Times found that DBS and OCBC do not currently offer a comparable advance branch appointment booking service, although they do offer digital queue services.
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OCBC, in particular, said fewer customers visit the branches now, as they become increasingly savvy.
Branch requests for OCBC’s four most common service transactions – cashiers’ orders, fund transfers, deposit placements and withdrawals – have fallen by more than 30 per cent in the last five years.
“This has naturally reduced the need for customers to visit our branches for everyday banking needs,” said Jean Oh, the bank’s head of branch service and risk management.
She said that while OCBC does not have an online branch appointment booking service, customers who prefer to plan ahead can use the “Easy Q” feature on the OCBC app to get a queue number in advance, and customers seeking financial advice can contact their wealth advisers to arrange an appointment.
Branches remain important for customers who need face-to-face interactions. These include seniors who are less tech-savvy, those with more complex banking needs or who want to have wealth conversations, Oh said.
Meanwhile, DBS said it offers appointments for services that typically require more time and dedicated assistance. This includes new foreigner account openings; joint account openings; banker’s guarantees; court orders; Lasting Power of Attorney and estate matters.
Jacqueline Lim, chief operating officer, consumer banking group at DBS Bank Singapore, said customers can reach out to the bank’s customer service team through its hotline or submit a request via its online form.
