OCBC Indonesia undergoes rebranding, logo change for a unified financial future

The emblematic change carries OCBC Group’s ‘One Brand, One Group Unity’ strategy across markets in Singapore, Malaysia, Hong Kong, Macau, and mainland China.

OCBC Indonesia has embarked on a transformative journey with a carefully designed rebranding plan, allowing its transition from Bank OCBC NISP to OCBC. This landmark move marks a new era of synergy with the OCBC Group, going beyond a visual facelift to shape a more formidable institution that embodies the spirit of its “One Brand, One Group Unity” strategy.

This logo change is not a novel occurrence within OCBC Indonesia, though, according to its president director, Parwati Surjaudaja.

“It has consistently driven positive development, elevating us, especially now, to optimise synergies between countries and support economic growth in Indonesia while facilitating financial access in the ASEAN region, Greater China, and surrounding areas,” Surjaudaja told Asian Banking and Finance.

One Brand, One Group Unity

Emblematic shift and brand transition from OCBC NISP to OCBC is part of the One Brand, One Group Unity strategy that was hatched by the OCBC Group based in Singapore. Launched simultaneously in several countries, this step strengthens OCBC’s position as a robust bank.

Despite the name change, the company's legal entity remains the same: PT Bank OCBC NISP Tbk.

“This change was implemented simultaneously on July 3, 2023 in Singapore, Malaysia, Hong Kong, and Macau. It was then continued in Indonesia on November 14, 2023, and for mainland China on December 6, 2023,” said the OCBC Indonesia president director.

With the rebranding and logo changes, comes OCBC’s resolve to provide better services to customers by enhancing regional propositions and strengthening synergy and collaboration with OCBC Group’s capabilities, leveraging knowledge and local cultural values.

“Collaboration between countries will create opportunities for individuals and businesses to achieve their aspirations,” Surjaudaja said.

“Expected changes include the synergy that can unite OCBC as one group to achieve a common goal: to accelerate growth and our commitment in the international market. And for customers, this will encourage them to rise to a higher class to take advantage of the network in ASEAN and Greater China,” she added.

Seizing the Momentum

In addition, with the synergy from this rebranding, Surjaudaja expects to have a positive impact on improving customer services, including digital banking experiences.

OCBC Indonesia will use this rebranding momentum for comprehensive, collaborative, and sustainable technology development, focusing on enhancing the use of relevant digital technology for individual customers through OCBC Mobile and for business customers through Velocity@ocbcnisp. “So, it can consistently provide a more modern, easy, and innovative banking experience for customers,” stressed the bank’s top executive.

Although this initiative is limited to a logo change only, with no internal cultural changes, she emphasised that the bank will continue to emphasise an innovative, collaborative, and customer-oriented culture.

Thus, the bank aims to provide a positive employee experience during their careers at the bank with a drive to “continually rise to a higher level and grow sustainably,” she said.

Indonesia is one of OCBC Group's main focus markets, along with Singapore, Malaysia, and Greater China. “As part of the OCBC Group, we are committed to supporting Indonesia’s economic growth and helping the community achieve their financial aspirations in ASEAN, Greater China, and surrounding areas,” revealed Surjaudaja.

The new look of the brand in Indonesia allows the bank to consistently maximise service synergies among countries through OCBC Group’s regional capabilities combined with local knowledge and cultural values, aiming to provide the best services to Indonesian customers.

Ongoing transformation

In achieving its goals, the company is undergoing a significant business model transformation with a focus on several key areas. Firstly, there is a collaborative effort to align internal functions and units to ensure seamlessly integrated customer-focused propositions.

Simultaneously, the alignment aims to focus on both individual and corporate propositions.

The company is also actively fostering strategic partnerships to develop business through non-traditional channels. Emphasising Environmental, Social, and Governance (ESG) principles as fundamental to all business practices and organisational activities is a key aspect of this transformation.

Furthermore, the ongoing transformation involves technological advancements, aligning the bank’s resources and capabilities with supporting technologies to achieve business targets, strengthen branding, and enhance effective communication.

Human resource transformation is another critical facet, involving efforts to shift mindsets and promote a psychologically safe working environment. This includes implementing new work methodologies, enhancing employee capabilities through upskilling and re-skilling initiatives, and building analytic capabilities related to human resources (HR analytics).

Ensuring effective three-line defense involves adjusting governance processes from rule-based to principle-based, strengthening empowerment and oversight to facilitate faster business iterations. Additionally, a framework is being established to create alignment between the first and second lines of defense.

The optimisation of synergies with the OCBC Bank Group is also a priority, encompassing collaborative processes and product offerings within the framework of the Financial Conglomeration, as well as leveraging the Group’s network to capture intra-Asia trade opportunities and investment flows from China. This comprehensive approach reflects the company’s commitment to holistic transformation across various dimensions of its operations.