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Quicker Mobile Banking Access Through OCBC Bank's Biometric Authentication

2016-06-20 12:27
-OCBC OneTouch app is first among foreign banks in the country

KUALA LUMPUR, Malaysia, June 20, 2016 /PRNewswire/ -- OCBC Bank (Malaysia) Berhad has launched OCBC OneTouch, an app that allows customers quicker access to the balances in their bank accounts, cards and investments.

The app leverages on Apple's Touch ID technology to create a fingerprint recognition system that allows customers to make basic banking simpler and more accessible by eliminating the need to remember and repeatedly enter authentication details for the most common transaction -- checking account balances.

According to OCBC Bank's Head of E-Business Mr. Roy Heong, checking balances accounts for more than half of all online transactions.

"With the majority of mobile banking transactions revolving round checking of account balances, we view the introduction of OCBC OneTouch as key to meeting a significant need of customers in today's digitally-driven environment. OCBC OneTouch represents another massive stride forward in the journey toward greater convenience and security, two key elements that are sometimes on opposite ends of the spectrum, but both of which customers today demand in order to keep up to date with their finances," he said.

To get started, customers need to perform a one-time activation by keying in their OCBC Mobile Banking login ID and password. Thereafter, within the Mobile Banking app, customers need only to place their finger on the home button in order to view their account balances.

All account numbers are partially masked with only the last 4 digits revealed. The Bank does not store any account information such as numbers, balances and other related information on the phone. Should any customer wish to perform banking transactions other than a balance enquiry, they have the option of logging into Mobile Banking using their login ID and password.

OCBC OneTouch is available on iOS devices that incorporate Apple's Touch ID fingerprint sensors. These include iPhone 5S, iPhone 6, and iPhone 6Plus with the iOS 8 operating system.

The latest in a series of digital innovations, OCBC OneTouch was already in the works when OCBC Bank first launched its mobile banking app over the iOS & Android platforms in 2015. This was accompanied by OCBC Money Insights, a personal finance manager tool that enables customers to easily monitor expenses, set budgets and save towards their goals.

About OCBC Bank

OCBC Bank is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world's most highly-rated banks, with an Aa1 rating from Moody's. Recognised for its financial strength and stability, OCBC Bank has been ranked Asean's strongest bank and among the world's five strongest banks by Bloomberg Markets for five consecutive years since the ranking's inception in 2011.

OCBC Bank and its subsidiaries offer a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services.

OCBC Bank's key markets are Singapore, Malaysia, Indonesia and Greater China. It has over 620 branches and representative offices in 18 countries and regions. These include the more than 330 branches and offices in Indonesia under subsidiary Bank OCBC NISP, and more than 90 branches and offices in Hong Kong, China and Macau under OCBC Wing Hang.

OCBC Bank's private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open-architecture product platform to source for the best-in-class products to meet its clients' goals.

OCBC Bank's insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. Its asset management subsidiary, Lion Global Investors, is one of the largest private sector asset management companies in Southeast Asia.

OCBC Bank offers Islamic banking products and services in Malaysia through its wholly-owned subsidiary, OCBC Al-Amin Bank Berhad.

For more information, please visit www.ocbc.com.my.

For media queries, please contact:

Eleanor Danker

Vice President

Corporate Communications

OCBC Bank (Malaysia) Berhad

Tel:      03 - 2783 3642

Hp:      012 - 259 7349

Fax:     03 - 2693 5694

Email:  EleanorD@ocbc.com

Paul Chan

Assistant Vice President

Corporate Communications

OCBC Bank (Malaysia) Berhad

Tel:     03 - 2783 3661

Hp:      012 - 259 6313

Fax:    03-2693 5694

Email: CKChanPaul@ocbc.com

Julius Evanson

Head

Corporate Communications

OCBC Bank (Malaysia) Berhad

Tel:      03 - 2783 3655

Hp:      012 - 243 4348

Fax:     03 - 2693 5694

Email:  juliusevanson@ocbc.com

 

Source: OCBC Bank
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