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Hosted on Decentraland, OCBCx65Chulia arose from a ground-up initiative by staff during an internal innovation sprint, as part of its digitalisation and transformation efforts.
OCBC Bank has launched OCBCx65Chulia, a virtual experience hosted on Decentraland, a metaverse platform.
Named after the Bank's headquarters on Chulia Street, Singapore, OCBCx65Chulia allows visitors to learn about OCBC’s historical milestones along with the latest banking products and services. They can open a bank account and apply for a credit card through instant access to the Bank’s website from the platform.
According to OCBC, the new initiative arose from a ground-up initiative by staff during an internal innovation sprint, as part of its digitalisation and transformation efforts.
Additionally, in collaboration with Web3 firm Memotics and Nanyang Polytechnic (NYP), both of which would be involved in enhancements to the platform, the Bank aims to reaffirm its commitment to "nurturing a pipeline of design and tech talent and contribute to Singapore’s talent pool", through opportunities for young design and tech talent to develop their skills.
Peter Koh, Head of Group Technology Architecture, OCBC Bank, shared: "Many have doubted the purpose of the metaverse. Though a nascent and evolving space that we are still working to understand, the metaverse remains one of the newer ways to make a connection. We are ready to tap into these, as they emerge, to reach a larger audience. At the same time, through experimentation and collaborating with an industry player, our younger colleagues can learn and develop themselves."
About OCBCx65Chulia
Occupying nine plots of virtual land, the futuristic-looking spherical design of OCBCx65Chulia is modelled after OCBC Bank’s iconic red logo – deemed as a nod to the bank’s rich heritage.
"With the Bank’s arrival in the Metaverse, customers gain an additional access point that also represents a new way to engage with the younger crowd," it was stated.
The next phase of OCBCx65Chulia, projected to be ready in Q3 2023, will involve gamification to enhance the experience further. This enhancement will come from the winning ideas of a group of NYP Diploma in Interaction Design students. In a hackathon held over two weeks in February 2023, 10 student teams from NYP’s School of Design & Media presented gamification ideas.
The Bank's in-house technology team also collaborated with Memotics to build its presence on Decentraland.
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Photos: Provided by OCBC
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