Tag: Southeast Asia

Singapore—The latest ‘e-Conomy SEA report’ from Google, Temasek, and Bain & Company has been recently released and highlights that in 2024, the digital economy will reach $263b in Gross Merchandise Value (GMV), a 15% increase over last year. Revenues have also grown 14% and are projected to reach $89b in 2024. The report suggests that the digital economy can achieve both profitability and growth in tandem, marking a significant step towards achieving sustainable economic value.

Why SEA is primed for AI-powered acceleration

Southeast Asia is quickly becoming a global center for AI innovation and adoption. With substantial investments in AI infrastructure and a dynamic ecosystem of startups and developers, the region is on track to harness AI’s transformative potential across a wide range of industries. 

In the first half of 2024 alone, SEA attracted over $30b in AI infrastructure investments. Additionally, consumer interest in AI solutions is surging, with AI-related searches increasing 11-fold in the past four years. The region’s young, growing population, high levels of digital literacy, and widespread smartphone usage make it an ideal market for AI-powered products and services. 

From AI-driven travel planners to generative AI-based fraud detection, AI is delivering value across SEA’s digital economy, with applications spanning various industries. Pro-innovation policies that encourage AI growth and responsible governance will further expand opportunities within the region’s digital economy.

From transport, e-commerce, and online travel–these are the sector redefining SEA’s digital economy

After years of investment and development, leading players in the region’s digital economy are now progressing toward profitability while maintaining strong double-digit growth in both gross merchandise value (GMV) and revenue. Continued growth is expected to be driven by deeper digital engagement among users, effective monetisation strategies, and the recovery of sectors affected by the pandemic. E-commerce has also regained momentum, fueled by the rise of video commerce.

E-commerce, projected to reach $159b in GMV by 2024, is now primarily driven by existing customers, who contribute up to 70% of its growth. This marks a shift from previous years when first-time shoppers were the main drivers. Established players are reinvesting to boost GMV and defend their market share, as international competitors disrupt the market. Revenue is expected to increase 13% year-on-year (YoY) to $35b in 2024.

Meanwhile, video commerce has rapidly grown to account for 20% of e-commerce GMV, a significant jump from less than 5% in 2022. This trend is reshaping the e-commerce landscape in Southeast Asia, transforming the consumer shopping experience. From live shopping events to content created by influencers, video has become an essential component of online shopping.

Food delivery is also gaining traction as dining-out habits stabilize and new monetization avenues, such as in-app advertisements and subscriptions, emerge. Revenue in this sector is forecasted to rise by 54% YoY to $1.7b in 2024, while GMV is set to grow by 7% to $19b. Platforms are experimenting with strategies for future profitability, such as improving restaurant visibility and using AI to optimize operations.

In another industry seeing growth, the transport sector has surpassed pre-COVID levels, with revenue expected to grow by 36% YoY to $1.5b, driven by increased demand and strategic pricing. GMV is projected to rise by 18% to $9b. Despite inflationary pressures, consumer demand remains strong due to the expansion of established players into second-tier cities and rural areas, along with aggressive promotions by new entrants seeking user growth.

Online travel is outpacing the broader digital economy in terms of Gross Travel Bookings (GTB) growth, fueled by intra-regional travel within Asia-Pacific. Higher airfares and a growing preference for luxury travel options are expected to push GTB to $46b in 2024, a 21% YoY increase, while revenue is set to grow 18% to $20b. While direct booking channels remain dominant, online travel agencies continue to successfully monetise their core services as well as adjacent offerings, such as financing and insurance.

Meanwhile, online media is on track for significant growth, with GMV projected to rise to $30b, an 11% YoY increase. Video-on-demand and gaming are key drivers, with SEA developers gaining recognition in casual gaming and hyperlocal content. Advertising remains a reliable revenue stream, while hybrid models incorporating in-app purchases, subscriptions, and ads are becoming increasingly popular to cater to diverse player segments. The rise of gaming influencers has fueled a thriving creator ecosystem, with livestreaming becoming a key tool for facilitating real-time interaction between sellers and consumers.

Lastly, Digital Financial Services (DFS) are expanding rapidly, with revenue expected to grow by 22%, from $22b in 2022 to $33b in 2024. Digital payments and lending, which make up more than 90% of DFS revenue, are the primary growth drivers. E-wallets have become widespread, partnering with major payment card networks, while QR code usage continues to rise. 

It’s worth noting that a generational shift in investor behaviour is reshaping the wealth management landscape, a trend that is likely to persist as more merchants accept digital payments, risk assessment improves, and consumers increasingly seek online solutions for insurance and wealth management.

Increase in investor confidence in SEA’s long-term potential

Despite the ongoing challenges in the funding landscape, investors have demonstrated cautious optimism, channelling nearly 50% of their investments into emerging sectors. Although the exit environment remains difficult, early-stage companies in Southeast Asia have made substantial strides toward profitability. There is also a growing emphasis on fostering cross-border collaborations and improving IPO regulations to enhance capital market conditions.

Last year, the report highlighted four key factors to revitalise the funding landscape: realistic entry valuations, proven monetisation models, a clear path to profitability, and reliable exit strategies. While the first three have been successfully achieved, creating dependable exit pathways is still a work in progress due to the continued challenges in capital markets.

Singapore continues leading SEA’s increased appetite in AI products, services

Singapore’s digital economy has shown impressive resilience and is expected to reach $29b in GMV by 2024, marking a 13% increase from 2023. E-commerce has bounced back, growing from $8b in GMV in 2023 to $9b in 2024, while sectors like online media and travel have experienced double-digit growth, driven by strong infrastructure and pro-business policies.

Singapore ranks among the top 10 countries globally in terms of interest in AI-related topics, with sectors such as education, marketing, and travel leading AI search trends. There is a high demand for mobile apps featuring AI capabilities, including content creation tools, photo editing apps, and AI-powered virtual assistants. 

AI has also played a pivotal role in boosting Singapore’s tourism industry, enabling chatbots to provide personalised recommendations, analyse visitor data to optimise marketing strategies, and enhance visitor experiences through interactive exhibits and customised guides.

To meet the growing demand for AI infrastructure, investments in AI-ready data centers reached $9b in Singapore during the first half of 2024, second only to Malaysia, which attracted $15b in similar investments.

Digital Financial Services (DFS) have also become a key driver of growth, with digital payments and wealth management leading the way. Singapore’s status as a regional financial hub has drawn substantial venture capital and private equity investment. To stay competitive, the Singapore Exchange (SGX) has introduced initiatives to improve exit options and attract investor capital and IPOs. Singapore’s favourable business environment, political stability, and tax incentives have further strengthened its position as a leading economic hub.

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For Sapna Chadha, vice president for Southeast Asia and South Asia Frontier at Google, Southeast Asia’s digital economy is rapidly evolving as businesses adopt innovative strategies to achieve profitability, fostering a more sustainable and resilient ecosystem. 

“The rise of video commerce is supercharging e-commerce growth, with live shopping and creator-led content reshaping how people discover and buy products. Southeast Asia is emerging as a global hub for AI innovation and adoption. With significant investments in AI infrastructure and a thriving ecosystem of startups and developers, the region is poised to unlock the transformative power of AI across various sectors,” she said.

Meanwhile, Fock Wai Hoong, head of Southeast Asia at Temasek remarked how it is encouraging that SEA’s digital businesses are now focusing on achieving the appropriate balance between growth and profitability.

“Investors have also started looking for the next wave of growth by investing in nascent sectors such as software and services as well as AI, demonstrating confidence in the long-term potential of SEA’s digital economy. Temasek remains committed to deploying catalytic capital to the region’s digital economy to achieve sustainable and inclusive growth so that every generation prospers,” he said.

Lastly, Florian Hoppe, partner at Bain & Company stated that Southeast Asia’s digital economy continues to do well, with continued double-digit GMV and revenue growth and a surge in profitability across sectors led by key players. He also remarked how the region is also attracting significant AI investment, with over $30b committed to AI infrastructure in the first half of 2024.

“To fully harness the transformative potential of Generative AI, businesses must advance beyond experimentation and invest in foundational elements—aligning AI initiatives with core business objectives to address real-world problems and create tangible value, strengthen AI talent, and building scalable, adaptable infrastructure for sustained growth,” he said.

Singapore – Loqate, a global location intelligence specialist, has forged a partnership with super app GrabMaps to enhance the accuracy of businesses’ location data in Southeast Asia (SEA).

Incorporating GrabMap’s high-quality location data into Loqate’s platform will enable its businesses to access more accurate and localised address verification services.

The partnership aims to help businesses solve challenges in addressing systems, further improving their delivery services. With the growth of e-commerce in SEA markets, Loqate aims to solidify its position as the premier provider of accurate and trusted location data.

By offering intuitive address suggestions, verification, and data integrity, Loqate enables businesses to streamline their operations, consequently boosting customer satisfaction. Brands such as Shein, Temu, eBay, IBM, and ASOS have relied on Loqate for location services.

Meanwhile, GrapMaps is built on a community-based mapping approach, leveraging its network of consumers, merchants, and driver and delivery partners. Refreshing its mapping data daily, Grab ensures accurate and up-to-date map access. Its mapping data encompasses addresses in Singapore, Cambodia, Vietnam, Philippines, Indonesia, Malaysia, Myanmar, and Thailand.

The collaboration has kicked off in Malaysia, with plans to extend to Singapore, Thailand, Indonesia, and the Philippines.

“We are thrilled to collaborate with GrabMaps, a true leader in location data innovation, as we expand our presence in Southeast Asia. With this integration of rich local data into our platform, we are confident that we will continue to be a trusted partner that provides local and international businesses with accurate, high-quality location data and intelligence, particularly in regions where addressing is often challenging,” David Green, managing director at Loqate, commented.

Hazel Chen, regional head of group business development and partnerships at Grab, said, “We are excited to partner with Loqate and share our capabilities with them to support their mission to provide accurate location data to businesses, starting with Malaysia. GrabMaps offers a fresh, highly granular and extensive view of the region, like no other. Our ever-expanding and highly precise location data will help Loqate’s customers to minimise inefficiencies, drive cost savings and offer better customer experiences.”

Singapore – Majority of Singaporean prosumers (85%) deem travelling essential for their mental well-being, according to a report from Havas Singapore.

The report, which highlights Singaporeans’ travel preferences, also revealed that 65% of prosumers are willing to sacrifice other comforts to fulfill their dream travel. The insight further reinforces the emotional value of travelling for Singaporeans.

Havas Singapore’s report also focuses on sustainability. According to the report, 43% of prosumers feel guilty about the environmental impact of their journey, yet find it difficult to meet sustainable travel habits to meet their environmental values.

Meanwhile, 88% of Singaporean prosumers prefer sharing their travel experiences on social media. 70% also enjoy seeing travel content from influencers who partner with brands, which provides them with a glimpse of new destinations. According to the report, this is an opportunity for brands to promote sustainable travel habits.

Additionally, 74% of prosumers in Singapore value being immersed in local cultures. 92% are encouraging brands to support local communities.

The report emphasises Singaporean prosumers’ demand for sustainable options when travelling along with authenticity in the travel content they view.

“The travel sector is at a critical juncture as it navigates the challenges posed by climate change and shifting consumer priorities,” Vineet Kumar, director of research and insights at Havas Singapore, commented.

“The findings highlight the profound relationship consumers have with travel and the potential for brands to drive positive change. As we move forward, brands that prioritise sustainability and genuine engagement will thrive,” Kumar added.

Singapore – Majority or 88% of consumers in Southeast Asia rely on AI-driven content and product recommendations for purchasing decisions, with 83% willing to pay more for AI-enhanced shopping experiences, reveals a whitepaper jointly developed by Lazada and Kantar.

The report reveals that nearly two-thirds of respondents (63%) in Southeast Asia perceive AI as widely adopted in online shopping, with more than half identifying AI chatbots (63%), translations (53%), and visual product searches (52%), as key recognised features in ecommerce.

In terms of actual adoption, however, usage of these features remains below 50%—47% for AI chatbots, 40% for visual product searches, and 40% for translations. The report also indicates that only one-third of respondents found these features helpful in meeting their needs.

According to the whitepaper, the gap between perceived and actual effectiveness of AI features highlights an opportunity for ecommerce platforms to leverage AI and data insights, bridging this divide to boost customer satisfaction.

Interestingly, while only a few respondents found AI features in online shopping helpful, the report reveals a strong trust in AI-powered platforms. The majority rely on AI for personalised recommendations (92%) and product summaries (90%), with 88% making purchasing decisions based on AI-generated content and suggestions.

When examining consumer motivations for using AI in online shopping, over half of SEA respondents (52%) cited convenience as a primary reason for adopting AI in their personal lives. Similarly, 51% prioritise product and seller reviews, highlighting an opportunity to enhance review depth, relevance, and authenticity through AI technology.

Furthermore, a substantial majority of shoppers (83%) are willing to pay more for AI-powered shopping experiences. This willingness is linked to the positive benefits shoppers perceive, with nearly half of respondents (49%) indicating that AI enhances discovery, customer service, and overall enjoyment during online shopping.

James Dong, chief executive officer of Lazada Group, elaborated, “The launch of our inaugural whitepaper marks a pivotal moment in understanding how AI is shaping the future of eCommerce. As technology evolves, so do consumer expectations. This whitepaper explores the transformative potential of AI and provides insights into how businesses in Southeast Asia can harness it to create personalised, seamless, and smart shopping experiences.” 

“At Lazada, we are committed to staying at the forefront of innovation, ensuring that AI drives both efficiency and enhanced customer engagement across all touchpoints. Going forward, we will continue to invest in AI and cutting-edge technologies to revolutionise the eCommerce ecosystem,” he added. 

With 80% of respondents using AI features on eCommerce apps at least once a week, the whitepaper urges eCommerce platforms to seize the opportunity to enhance their AI integration efforts and provide more holistic and exceptional shopping experiences.

“AI has become an integral part of the eCommerce landscape, enabling smarter decision-making and more tailored customer experiences at scale. As we dive deep into how we can enhance AI algorithms to personalise product recommendations, optimise supply chains, and enhance customer service interactions, it is clear that AI will remain a key enabler in pushing the boundaries of what eCommerce can achieve. What excites me most is how we are building robust AI systems to solve complex technical problems in ways that directly improve the shopping experience for our customers,” said Howard Wang, chief technology officer at Lazada Group.

Singapore – Creative agency Iris Singapore has appointed Paolo Agulto as executive creative director (ECD) to boost its creative output for clients.

The appointment is part of the agency’s strategy of gathering the best talents for creative, innovative, and original outputs. In his new role, Agulto will be working with Iris Singapore’s global chief creative officer Menno Kluin and creative chairman Eduardo Maruri, who also recently joined the agency. 

Agulto joins Iris Singapore with over 17 years of experience in the creative industry. He was formerly a creative director at Accenture Song, having held the role for two years. He also held the same position at The Secret Little Agency. Prior to that, he was the creative group head at BLK J Havas and DDB Group Singapore, and he worked with Saatchi & Saatchi as a copywriter.

As the ECD, Agulto will collaborate with Shea Warnes, who was recently appointed as chief strategy officer.

Meanwhile, Iris Singapore has also promoted Yingting Low as head of content to lead media planning, content creation, and dissemination. 

“Paolo is an incredibly sharp, modern creative stepping into this role with hunger and ambition. We needed someone who shared Iris’ ‘participants not passengers’ mentality, not just in the kind of work we create, but also in how we work and the culture we create at Iris,” Rebecca Nadilo, managing director of Iris, said.

“As community and culture become integral to buying decisions, Iris is focused on ideas that earn attention rather than just paying for it. With Paolo, Shea, and Yingting leading the charge, we are ready to deliver work that both excites clients and resonates with audiences,” Nadilo added.

“Participation has always been at the heart of my work. I couldn’t be more excited to join a creative community where participation is not just another buzzword, but the driving force of everything that we do. Now that audiences have a myriad of ways to avoid brands, it’s more important than ever to create work that people actually want in their lives. And I’m confident that the talent around me can do exactly that,” Agulto commented.

“Paolo’s impressive experience means we have a leader calibrated to create value and earn attention. That’s exciting to me, broadening our aperture to more different shaped solutions. That’s the type of work that excites me, but more importantly our clients are asking for,” Warnes said.

Singapore –Social media users make up 64.3% of Southeast Asia’s population, surpassing the global average of 63.8%, according to a report by We Are Social and Meltwater. 

According to the report, global social media users have reached 5.22 billion, accounting for 63.8% of the world’s population, with a growth rate of 256 million in the past year, marking a 5% annual increase. In Southeast Asia, usage is slightly higher at 64.3%, with Singapore ranking fourth globally, where 88.8% of the population is active on social media.

The report shows that globally, people spend an average of 2 hours and 19 minutes on social media daily, using 6.8 platforms each month. In Southeast Asia, users are more active than the global average, with Filipinos spending 3 hours and 33 minutes per day on social media and using 8.2 platforms monthly.

Meanwhile, in Indonesia, social media accounts for nearly half (44.3%) of internet users’ online time. The country also leads globally in brand discovery via social media, with 63.9% of users seeking out brands compared to 49.3% worldwide. Additionally, 65.2% of Indonesians use social media to research potential purchases.

The report further reveals that TikTok leads globally in average time spent per Android user, with users logging an impressive 34 hours and 15 minutes per month—over an hour daily. In Southeast Asia, usage is even higher, with Vietnamese users spending nearly 10 hours more than the global average each month on the platform.

After TikTok, YouTube ranks second globally, with the average user spending 29 hours and 21 minutes per month on its Android app. Thailand emerges as one of YouTube’s most active markets, where users log an impressive 46 hours and 25 minutes monthly. Malaysia, Singapore, Vietnam, and Indonesia also exceed the global average in time spent on the platform.

Interestingly, despite Instagram’s popularity in other regions, countries like Vietnam and the Philippines fall significantly below the global average for monthly app sessions per user. In Vietnam, the average is only 83.7 sessions, while the Philippines sees 135.8 sessions, compared to a global average of 351.1.

However, it is also worth noting that both Vietnam and the Philippines rank among Facebook’s most active markets. Users in Vietnam spend an average of 24 hours and 11 minutes per month on the Facebook Android app, while Filipinos spend 23 hours and 26 minutes—well above the global average of 18 hours and 44 minutes.

The report also highlighted how the region remains a hotspot for active messaging app users. In the Philippines, users are among the most engaged on Messenger, spending an average of 15 hours and 31 minutes per month with approximately 768.9 sessions. 

Indonesians follow closely as the second-highest users of WhatsApp, averaging just over 26 hours monthly with about 1,374.3 sessions. Additionally, Singapore boasts some of the most active Telegram users globally, accessing the app an average of 258.6 times compared to the global average of 186.6 sessions.

Vietnam – Bitget, a global cryptocurrency exchange and web3 company, is encouraging its users to make smarter decisions in its latest campaign with Vantage Pictures. 

The ‘Trade Smarter’ campaign infuses humorous elements, veering away from the usual high-stakes tone of financial advertising. It aims to provide a sense of fun and relatability in crypto trading.

The campaign comprises of four films directed by Paul Moore and filmed in Bangkok. Each film shows humorous scenes where characters are encouraged to think outside the box to get significant rewards. It offers a fresh approach to how viewers can perceive crypto trading.

The campaign is set to be released globally throughout 2024.

“When we set out to make these films, the idea was to keep it fun and light but still impactful. Trading, like life, is about making smart moves, and we wanted to show that in a way that’s engaging and relatable. We hope that sense of fun truly connects with people,” Moore commented.

 “This campaign is all about human moments—those small, relatable situations where a smart decision can make all the difference. The humour comes from real life. We didn’t just want to talk about smart trading; we wanted to show how trading can be incorporated into daily life,” Vugar Usi Zade, chief operating officer of Bitget, said. 

Singapore –  Reckitt has teamed up with GrabAds, the advertising arm of Grab, to elevate brand visibility and drive sales across Southeast Asia by harnessing GrabAds’ retail media network (RMN) capabilities.

The partnership allows Reckitt’s health, hygiene, and nutrition brands, including Dettol, Enfagrow, Strepsils, Durex, and Gaviscon, to leverage GrabAds’ first-party data and innovative ad formats to precisely target consumers and enhance marketing across Singapore, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines.

With GrabAds’ RMN capabilities, Reckitt brands can precisely target high-value Grab consumers while tapping into Grab’s broader online-to-offline (O2O) ecosystem, including GrabMart and its delivery network, for instant product delivery to consumers.

The campaigns will also tap into GrabAds’ full-funnel ecosystem to maximise brand visibility and drive sales across key consumer touchpoints, from in-app discovery to purchase and offline delivery. Using first-party data, Reckitt can target specific consumer segments at optimal moments, utilising ad placements like native ads and search ads within the Grab platform.

Reckitt is the first partner to pilot GrabAds’ newest search ad format. Through this collaboration, Reckitt brands will gain access to real-time reporting for search keyword optimisation, improving overall campaign performance.

Ashleen Ngion, regional eCommerce director (ASEAN, Japan, and Korea) at Reckitt, said, “This strategic partnership with Grab aligns greatly with our guiding compass of putting consumers and people first. By being where consumers are and engaging with them, our brands—Dettol, Enfagrow, Strepsils, Durex, and Gaviscon—will become more accessible through Grab.” 

“As an organisation with a strong entrepreneurial spirit and always seeking new growth opportunities, we believe leveraging the retail media capabilities of GrabAds will allow us to unlock more precision targeting capabilities and grow brand penetration. We are excited to build more shared success with Grab and pioneer new initiatives,” Ngion added. 

Reckitt’s partnership with GrabAds kicked off with a regional Valentine’s Day campaign for Durex. In-app banners on Home Feed, GrabMart, and other Grab Marketing Solutions used first-party data to target purchase-ready consumers, boosting both awareness and sales. 

“Our partnership with Reckitt, the first of its kind with non-food adjacent FMCG brands, represents a pivotal milestone for GrabAds as we enhance our service to the FMCG sector. This collaboration is designed to support Reckitt in optimising its digital marketing strategies and accelerating growth across Southeast Asia with innovative and creative campaigns that deliver comprehensive, full-funnel impact,” said Ken Mandel, regional managing director and head of GrabAds and enterprise at Grab.

“In a competitive FMCG landscape, brands can differentiate themselves by aligning with evolving consumer behaviours and preferences, including providing desired products on-demand and enhancing the last-mile delivery experience,” he added. 

The partnership between GrabAds and Reckitt reflects a growing trend of FMCG brands like Reckitt turning to RMNs for growth. Advertising spend on RMNs in Southeast Asia is expected to reach US$4.7 billion by 2030, according to a recent GrabAds and Kantar study.

Manila, Philippines – Doña Elena Olive Oils is elevating home-cooked meals, giving them a sense of luxury in a new campaign with BBDO Guerrero. 

The campaign, which shows a family sharing home-cooked dishes, incorporates opera to highlight how Doña Elena elevates the dining experience. It features the song ‘Habanera,’ from the French opera Carmen to provide a sense of nobility.

With the tagline ‘Feast like a Doña. Cook with Doña Elena,’ the campaign emphasises that through the brand’s olive oils, families can experience gourmet dining experience at home.

Dishes like pampano, paella, salpicao, and pasta were featured in the campaign video as having been upgraded through Doña Elena olive oils.

Doña Elena is a brand owned by Fly Ace Corporation and was launched in 1998.

“Our goal with this spot was to highlight the elevated experience that comes with using Doña Elena Olive Oils. These products aren’t just for cooking; they bring an authentic touch to home-cooked meals. We’re excited to reintroduce this creative twist that perfectly captures the essence of the campaign into the market, proving how any dish can be transformed with Doña Elena,” Maita Monsalud, category manager of Doña Elena (Fly Ace Corporation), said.

Andi Olbés, creative director at BBDO Guerrero, commented, “We wanted to do more than just visually represent the quality of Doña Elena products. We wanted to represent a feeling. By incorporating opera, we added that extra touch of drama that evokes the feeling of a grand dining experience, making every meal feel more special, elevated, and memorable with Doña Elena Olive Oils.”

Singapore – OCBC and Disney have announced a five-year strategic collaboration across three of the bank’s five core markets – Singapore, Malaysia and Indonesia. The collaboration helps OCBC’s ambition to grow its new-to-bank customers in Southeast Asia four times within five years.

OCBC will be the first regional bank in Southeast Asia to roll out a comprehensive programme that includes branded card designs, marketing activations and financial literacy content inspired by Disney, Pixar, Marvel and Star Wars characters and stories. 

These will enable OCBC to create special retail banking experiences and products, including a rewards programme that features Disney+ Premium or Disney+ Hotstar Premium subscriptions in Singapore and Malaysia, as well as special Disney-themed premiums.

By mid-2025, select OCBC cards and bank accounts will feature Disney designs or be bundled with Disney premiums and merchandise, such as limited edition OCBC pins.

The collaboration kicked off in Singapore with the soft launch of the OCBC MyOwn Account on the OCBC app. For the official launch of the OCBC MyOwn Account, OCBC will deck out its Wisma Atria branch with Disney- and- Marvel-themed photo zones, featuring beloved characters such as Stitch, Elsa and Anna, Iron Man, Captain America and Spider-Man. This is the first time in Singapore where consumers will have the opportunity to ‘meet and greet’ a special friend from Disney’s Stitch.

Financial literacy content in the form of comics, activity sheets and resources for young savers will be available digitally on the OCBC app, OCBC website, and in print at the OCBC Wisma Atria branch, to be used with guidance from teachers and parents. These comics feature beloved Disney characters Ralph and Vanellope from Disney’s Wreck-It Ralph. 

The comics provide financial literacy tips using Disney stories to make the reading experience more engaging and relatable. More than 100,000 physical copies of the comic will also be distributed to students at 110 secondary schools in Singapore.

Sunny Quek, head of global consumer financial services at OCBC, said, “We deeply value collaborations that drive beyond-banking experiences for our customers and enable us to differentiate ourselves in the market. We are excited to be the first bank in Southeast Asia to launch Disney-themed cards and offer customers special experiences inspired by Disney, Pixar, Marvel and Star Wars characters and stories. Disney characters evoke an enchanting and nostalgic emotional connection that resonates with the young and young at heart.”

He added, “Collaborations like these enable us to attract new customers and bring to the market products and services that are not based on pricing or rates alone. I am therefore confident we will accelerate our acquisition of new-to-bank customers across our Southeast Asia core markets in five years.”

OCBC’s rewards programme will benefit select debit and credit cardholders, as well as OCBC 360 Account customers in Singapore and Malaysia, and Young Nyala Account customers in Indonesia.