Oversea-Chinese Banking's (SGX:O39) private banking unit, Bank of Singapore, is deploying an agentic artificial intelligence platform called HELIOS that aims to cut new account opening times for wealth management clients to 15 business days from more than 30, Reuters reported, citing Bank of Singapore Chief Executive Jason Moo and OCBC Head of Group Legal and Compliance Loretta Yuen.
The platform automates due diligence by gathering client information and credit risk profiles for relationship managers. More than 100 relationship managers have been using HELIOS across Singapore, Hong Kong and Dubai over the past five months, the news agency said.
Moo said about 50 clients have been onboarded through the platform, with the rollout expected to be completed across Bank of Singapore by the third quarter before expanding to OCBC's Premier Private Client segment by year-end, Reuters said.
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