Tag "OCBC"
MAS Initiates Digital Singapore Dollar Trials
The Monetary Authority of Singapore (MAS) has published a report detailing potential uses of a purpose-bound digital Singapore dollar (SGD) and the supporting infrastructure required. The report also marked the successful completion of Phase 1 of Project Orchid which explored
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OCBC Becomes Latest Signatory to the UN’s Net-Zero Banking Alliance
OCBC Bank announced that it has become a signatory to the United Nations-convened, industry-led Net Zero Banking Alliance as part of its commitment to transition to a low-carbon world. As a signatory of the Alliance, OCBC will be transitioning the
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OCBC Appoints Head of Group Audit as New Group CFO
OCBC Bank announced the appointment of Goh Chin Yee as the Group Chief Financial Officer, effective 1 November onwards, to succeed Darren Tan who has opted for early retirement. Goh who is already a member of the Management Committee will
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LifeSG App Had Close to a Million Transactions Valued at S$41 Million Since Nov 2021
Close to 900,000 transactions, totaling over S$41 million, have been made through GovWallet on the LifeSG mobile application since the launch of the jointly developed digital payment service in November 2021 as Singapore aims to go cheque-free by 2025. LifeSG
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OCBC Customers Can Now Make Direct CPF Top-Ups
OCBC Bank’s customers will be able to make direct contributions to their Central Provident Fund (CPF) from within their banking app or internet banking platform. Close to 150,000 OCBC’s customers have already leveraged the Singapore Financial Data Exchange (SGFinDex) to
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OCBC Launches Its Inaugural Sustainability Innovation Challenge With SATS
OCBC Bank has partnered its corporate customer SATS, a food solutions provider, to launch the inaugural OCBC Sustainability Innovation Challenge. Companies worldwide will pitch solutions to address three waste management and reduction challenges identified by SATS relating to the segregation
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OCBC Hit With S$330 Million Additional Cap Requirement After Phishing Scam
The Monetary Authority of Singapore (MAS) has imposed an additional capital requirement of approximately S$330 million on OCBC Bank. The regulator said that this move was in response to the deficiencies in the bank’s response to a wave of spoofed
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Singaporeans Can Now Withdraw Government Payouts From OCBC ATMs With GovCash
The Central Provident Fund Board (CPF) has collaborated with OCBC and GovTech to launch the GovCash which replaces cheque issuance for Singaporeans who are unable to use direct bank crediting. This will allow them to receive government payouts more quickly
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OCBC Beefs up Security With Instant ‘Kill Switch’ to Stop Scammers
OCBC Bank has rolled out a kill switch that enables customers to immediately freeze all their current and savings accounts in the event of a scam. The kill switch can be activated via the bank’s official contact number or at
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OCBC Bank Makes Goodwill Payouts to SMS Phishing Scam Victims
OCBC Bank has begun making goodwill payouts since 8 January 2022 to customers who had fallen prey to the recent SMS phishing scam. To date, more than 30 customers have received them. The payouts to this group of customers are
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