Robots have got OCBC’s retail banking backend covered

Hey humans! Feeling down? Well let’s get down some more. OCBC Bank has launched two robots to enhance internal backend processing speeds in its retail banking secured lending (CSL) and finance teams. The robot attached to the CSL team assists with housing loan re-pricing. This includes processing time, which “has been almost entirely reduced” (i.e. […]

OCBC Bank in good shape with digital health insurance plan

Singapore’s OCBC Bank has unveiled the purchasing of health insurance plans via its mobile and internet banking channels. The bank says: “Typically, health insurance plans like critical illness, disability, hospitalisation and surgical are not sold via online channels as they require a health check-up to evaluate the applicant’s medical condition. However, with ‘Early Cancer Care’, […]

OCBC Bank takes AI-m at financial crime

When crime comes calling OCBC Bank won’t be bawling as it has turned to artificial intelligence (AI) and machine learning (ML) for the big fight. The Singapore-based bank says: “On any one typical work day, an OCBC Bank anti-money laundering (AML) compliance analyst would log into the bank’s transaction monitoring system and find up to […]

OCBC Bank, HSBC and MUFG in KYC blockchain breakthrough

OCBC Bank, HSBC and Mitsubishi UFJ Financial Group (MUFG), together with the Infocomm Media Development Authority (IMDA), has become the “first consortium” in South East Asia to complete a proof of concept for a know your customer (KYC) blockchain. The parties say the development “raises the possibility” of using blockchain to make KYC “more efficient […]

OCBC Bank fights money laundering with AI double act

Singapore’s OCBC Bank has piloted two fintech solutions from a pair of start-ups as it looks to combat money laundering and terrorism financing via artificial intelligence (AI). The two firms involved – BlackSwan Technologies and Silent Eight – were part of OCBC’s second fintech accelerator programme, Open Vault, which was launched last year. Both companies […]

OCBC Bank unveils “HR in your pocket” app

OCBC has become the first bank in Singapore to launch a human resource (HR) mobile app for its employees. The app, called “HR in your pocket”, includes an artificial intelligence (AI)-powered chatbot that is integrated with the bank’s HR information system. This chatbot can provide responses that are specific to each employee. Examples of use […]

OCBC Bank unveils first standalone mobile payments app

Singapore’s OCBC Bank has launched its first standalone mobile app for QR code cashless payments at nearly 2,500 NETS terminals. The new OCBC Pay Anyone app brings together all its Pay Anyone services – peer-to-peer e-payments, QR code payments, and integration with Siri and iMessage – into one place. Pranav Seth, OCBC Bank’s head of […]

OCBC first in Southeast Asia for interbank blockchain payments

OCBC says it is the first bank in Southeast Asia to use blockchain for local and cross-border interbank fund transfers. A successful pilot payment transaction was carried out between the bank and its subsidiaries, OCBC Malaysia and Bank of Singapore, using a payment blockchain solution designed by OCBC and local payments firm BCS Information Systems […]

OCBC Bank first in Asia Pacific for Siri payments

OCBC has become the first bank in Asia Pacific to let customers send cash through Siri. Users can send money with a voice command via Siri, then use the OCBC Pay Anyone mobile e-payment service. It also offers Apple’s instant messaging service –  iMessage. No need to stop texting, payments can be made without leaving […]