Let's take a look at what others in the industry are doing and find out where UOB currently stands!
We will focus on the ambience and accessibility of innovative branch concepts by UOB and its competitors. We will also compare the marketing of their banking products using two factors - online presence and current marketing campaigns.
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The lights, floorboard design and chalkboard at the side gives the branch a mordern rustic vibe. The cafe at the front makes the branch look more casual and less bank-like.
The branch is designed with many bright colours which makes it eyecatching. However, there is a lot of empty spaces and there are no staff outside to engage the visitors.
The design of the branch is modern and the interior seems theatre-like which gives visitors the sense of achieving endless possibilities.
There are plenty of tables and chairs and they are all well spaced out. There are partitions around some of the tables which gives visitors a sense of privacy.
There are only two tables and both of the tables always seem to be occupied. The space also looks small and cramped which could be uncomfortable for some visitors.
This is only one table in the centre with limited seating due to the safe distancing measures. There is a lot of space around the table so visitors do not have to worry about squeezing.
The cafe in the branch invites visitors in for non-banking needs. Customers can also enjoy food and drinks from the cafe while waiting for their turn. This creates a more relaxed atmosphere in the branch.
There is an abundance of extra chairs but there is not enough tables which can put off visitors who want to study here. At first glance, the games seem interesting but it is not enough to get visitors to want to come back.
The wall display of card designs gets customers excited about their card customisation.
In terms of proximity,
Hangout@UOB is the best as it is located closest to our target audience (SP students).
DBS Plaza Singapura Branch and FRANK by OCBC (Orchard Gateway)
are located in central Singapore, which is not as accessible as Hangout@UOB.
FRANK by OCBC (Orchard Gateway)
has penetrated the university student market with branches located in SMU, NTU and NUS.
But in terms of overall convenience,
60 branches
745 ATMs
45 branches
43 branches
over 1100 shared ATMs
DBS offers the most convenience for face-to-face banking as it has the highest number of branches islandwide.
However, the higher number of shared ATMs between UOB and OCBC means that UOB and OCBC account holders are able to access ATMs more easily.
OUR NEW PLACE
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OUR NEW PLACE
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@dbsbank
22.2k followers
@uobgroup
12.8k followers
@mendontgetit
7.8k followers
@ocbcbank
9k followers
@frankbyocbc
3.9k followers
@iwannayolo
6.6k followers
DBS has the highest Instagram following.
UOB has different accounts for different target audiences.
OCBC has an FRANK account that is targeted at youths.
DBS
28.3k followers
UOB
9.83k followers
OCBC
4.28k followers
DBS has the highest following out of the 3 banks.
Marketing closely caters to youths' interest
Gaming is what most of us love to do
Benefits are clearly stated
- Card benefits
- Cashback
- Discounts
- Participating brands
Marketing targets youth's needs
saving to achieve life goals
Relatable content
- Bubble tea
- Studies
- Sports
The UOB Own Your Life website is not promoted well enough on their social media platforms.
There is little to no coverage on Instagram.
Students DO NOT know about the website.
POSB Everyday Savings Account
UOB One Account
OCBC Frank
Age: Min. 16 years old
Annual Fees: $0
Minimum Deposit: $0
Interest Rate: 0.05% per annum
Age: Min. 18 years old
Annual Fees: $18 after 3 years
Minimum Deposit: $0
Interest Rate: 0.5% per annum
Age: Min. 16 years old
Annual Fees: $0
Minimum Deposit: $0
Interest Rate: 0.05% - 0.2% p.a.
CIMB Bank Starsavers (Savings)
Age: Min. 16 years old
Annual Fees: $0
Minimum Deposit: $1,000
Interest Rate: 0.3% - 0.5% p.a.
Standard Chartered Jumpstart
Age: 18 - 26 years old
Annual Fees: $0
Minimum Deposit: $0
Interest Rate: 1% p.a.
Maybank iSAVvy Savings
Age: Min. 16 years old
Annual Fees: $0
Minimum Deposit: $500
Interest Rate: 0.5% per annum
Which bank provides the...
Best age requirement: 16 years old
DBS, OCBC, CIMB, Maybank
Best annual fee: $0
DBS, OCBC, CIMB, Standard Chartered, Maybank
Best minimum deposit: $0
DBS, UOB, OCBC, Standard Chartered
Best interest rate: 1%
Standard Chartered
Average interest rate: 0.5%
UOB, CIMB, Maybank
