How Did BOC-Prudential’s MPF App Win 2,000 New Customers?

What Could the MPF Mobile App Do?

BOC-Prudential upgraded its MPF online service with a mobile app letting members check portfolios anytime, set price alerts, and place buy/sell instructions from their phones — fund-switch orders placed in the evening were executed the next day.

How Was the New Service Received?

Within about a year of launch, it had attracted some 2,000 new customers including employers, with over $100 million under management. CEO Chan Yue-cheong said no frequent fund-switching by contributors had been observed since the upgrade.

Why Did Young People Treat MPF as a Savings Tool?

Chan argued MPF’s entry threshold was lower than retail funds — just $1,000 minimum with no initial subscription fee — increasingly attracting young people as a savings vehicle. A special voluntary-contribution account was also opened for loyal members who had not changed jobs.