OCBC Plans to Lift Annual Tech Spending Including AI Above $771 Million

Oversea-Chinese Banking Corp. (OCBC), Singapore's second-largest bank, has laid out plans to raise its annual technology spending, including on AI, to more than S$1 billion (about $771 million). The plan was outlined by CEO Tan Teck Long at a media briefing, with the bank framing it as part of an expansion in artificial intelligence investment. Sunny Quek, head of global consumer financial services, also disclosed a plan to hire an additional 600 relationship managers over the next three years.