Tag "OCBC"

OCBC Recovers US$8 Million in Fraudulent Transactions With Its Surveillance System

OCBC Bank has recovered US$8 million worth of fraudulent transactions within the first year of the deployment of its Fraud Surveillance System (FSS) that was developed together with SAS Institute, a software analytics company. In 2020, OCBC reported that more

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OCBC First to Integrate With IRAS to Enable Direct Payment of Taxes

OCBC Bank is the first in Singapore to collaborate with the Inland Revenue Authority of Singapore (IRAS) to enable customers to have a seamless review and payment of their income and property taxes within a single digital platform, according to

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Singapore’s Incumbent Banks: How Are They Stepping Up Their Digital Game?

In December 2020, the Monetary Authority of Singapore (MAS) announced four successful digital bank applications. Out of 14 eligible applicants, the four successful entities – a consortium comprising Singapore Telecommunications Ltd (Singtel) and Grab Holding Inc. (Grab), a consortium of

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OCBC Bank Rolls Out Face Verification for ATM Banking Transactions

OCBC Bank has introduced the use of facial biometrics for ATM services, eliminating the need to carry around an ATM card. The bank claims to be the first in Southeast Asia to enable the use of face verification on its

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OCBC Bank Is First To Enable P2P Transfers on Google Pay In Singapore

OCBC Bank has become the first financial institution to bring Google Pay’s peer-to-peer (P2P) funds transfer service to Singapore. Singapore thereby is the third country aside from the United States and India where this service is available. With the integration

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OCBC Enables Instant Cash-out For Cheques under $30,000

OCBC announced today the roll-out of cheque encashment service across all its ATMs at 23 branches. Since February 2020, customers have been able to encash cheques – for up to a maximum of $30,000 in a single cheque – by

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Google Ties Up with DBS and OCBC to Enhance Google Pay in Singapore

Announced yesterday at the Singapore Fintech Festival, Google Pay has tied up with DBS and OCBC to enhance Google Pay services in early 2020. Google Pay is currently undergoing the beta-testing phase and select OCBC Bank customers will be able

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OCBC Joins Singtel’s VIA Alliance

Singtel will expand its VIA mobile payment alliance to include OCBC Bank, the first Singapore bank to join the alliance and the second regionally, after Thailand’s KASIKORNBANK. By the first quarter of 2020, OCBC Bank customers will be able to

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New Digital Banks Unlikely To Threaten DBS, OCBC and UOB, Fitch Ratings Says

Singapore’s granting of up to five new digital bank licenses is unlikely to threaten the dominance of the country’s three largest banks, DBS Bank, OCBC Bank and UOB, Fitch Ratings says. The ratings agency believes that DBS, OCBC, and UOB

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OCBC Bank Enables Cash Withdrawals at ATMs using QR Codes

OCBC bank announced today it will be enabling customers enabling customers to withdraw cash by just scanning a QR code using the OCBC Pay Anyone app, then authenticating the transaction via fingerprint, faceprint or mobile banking login credentials. The bank

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