Oversea-Chinese Banking (SGX:O39) has rolled out an agentic AI platform named HELIOS aimed at cutting the time for opening new accounts for wealthy clients down to 15 business days from an industry average of six weeks, according to a press statement on Wednesday.
HELIOS deploys extensive intelligence-gathering and relationship-network mapping capabilities to increase the accuracy and completeness of customer information needed for onboarding, the release said.
By automating the collection, verification, and assessment of key data, a large part of the know-your-customer (KYC) due diligence process is completed much faster, which streamlines and speeds up onboarding, according to the release.
Bank of Singapore, the private banking unit of OCBC, has begun using HELIOS throughout Singapore, Hong Kong and Dubai, with the roll-out to be completed by the third quarter of 2026. It will be extended to the OCBC Premier Private Client customer segment in the consumer banking business by the end of the year.
The launch comes close on the heels of the Monetary Authority of Singapore saying it is working with the private banking industry to reduce the account opening timeline to within one month by the end of 2026.