OCBC goes for kiddy’s money in Malaysia

After garnering a huge success with their children’s savings program in Singapore, OCBC is eager to spread the word further in Malaysia, according to Asiaone.

According to Nicholas Tan, head of global wealth management at OCBC, Malaysian parents are finding it hard to broach the subject of saving with their children. He says, 'Through our conversations with parents in this region, we understand that, increasingly, many of them find it challenging to educate their children on the merit of saving.

Hence, our programme - which aims to make saving fun for children through the introduction of various tools and activities - strikes a chord with Asian parents as it helps inculcate the virtue of saving.'

All young customers up to age 15 who open savings accounts with the bank are automatically enrolled in the program.

The launch of the program in Indonesia and Malaysia is aligned with OCBC's strategic plan to deepen its market penetration in the region through a build-and-transfer approach, said the bank.