16 July 2018
Visit www.gemalto.com

OCBC Bank mines Government data repository for digital account opening

05 June 2018  |  5680 views  |  0 OBC account opening

Singapore's OCBC is mining the Government's national data repository MyInfo to offer an entirely paperless digital account opening process.

To open a new account via mobile or desktop PC, prospects first give the bank consent to use their MyInfo profile to auto-fill the application form, eliminating the need to key in details or submit any additional documentation.

Verification and authentication happens within seconds and customers are automatically assigned an OCBC 360 account number to immediately initiate funds transfers into and out of the interest-bearing account.

OCBC initially integrated its systems with the Singapore's Government's digital vault in 2017, and has since developed an electronic KYC process, paving the way for instant online onboarding.

Aditya Gupta, OCBC Bank’s head of e-business Singapore, says: "Our ambition is to have one in every two customers on-boarded digitally with zero human intervention, and this launch is a significant milestone in that journey. We will be extending this service to a broader suite of our products shortly.”

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

OCBC Bank to push biometric POS to merchant customers

OCBC Bank to push biometric POS to merchant customers

23 May 2018  |  6633 views  |  2 comments | 5 tweets | 4 linkedin
OCBC Bank to spend $20 million on digital upskilling programme

OCBC Bank to spend $20 million on digital upskilling programme

08 May 2018  |  4873 views  |  0 comments | 6 tweets | 4 linkedin
OCBC Bank initiates conversational commerce with Google

OCBC Bank initiates conversational commerce with Google

18 April 2018  |  6732 views  |  0 comments | 5 tweets | 8 linkedin
Singapore's OCBC establishes dedicated AI Lab

Singapore's OCBC establishes dedicated AI Lab

14 March 2018  |  6095 views  |  0 comments | 5 tweets | 10 linkedin
OCBC Bank scans customer faces for personalised service at the branch

OCBC Bank scans customer faces for personalised service at the branch

14 February 2018  |  5003 views  |  0 comments | 6 tweets | 13 linkedin
Robots outpacing back end number crunchers at OCBC

Robots outpacing back end number crunchers at OCBC

22 November 2017  |  8331 views  |  0 comments | 11 tweets | 20 linkedin
OCBC business customers can now ask Siri to make B2B payments

OCBC business customers can now ask Siri to make B2B payments

04 October 2017  |  8081 views  |  0 comments | 8 tweets | 12 linkedin
Asean banks complete trial of KYC blockchain

Asean banks complete trial of KYC blockchain

03 October 2017  |  10789 views  |  1 comments | 16 tweets | 31 linkedin
OCBC Keyboard lets customers make P2P payments without leaving messaging apps

OCBC Keyboard lets customers make P2P payments without leaving messaging apps

28 August 2017  |  8384 views  |  0 comments | 7 tweets | 8 linkedin
OCBC Bank's Open Vault paves the way for startup pilots

OCBC Bank's Open Vault paves the way for startup pilots

19 July 2017  |  11933 views  |  0 comments | 1 tweets | 7 linkedin
OCBC Bank rolls out HR app and chatbot for employees

OCBC Bank rolls out HR app and chatbot for employees

05 June 2017  |  13207 views  |  0 comments | 12 tweets | 16 linkedin
OCBC Bank launches Emma, the mortgage chatbot

OCBC Bank launches Emma, the mortgage chatbot

05 April 2017  |  16063 views  |  0 comments | 12 tweets | 22 linkedin
OCBC Bank partners WeInvest for robo-advisory pilot

OCBC Bank partners WeInvest for robo-advisory pilot

07 March 2017  |  7875 views  |  0 comments | 8 tweets | 4 linkedin
OCBC pilots blockchain-based cross-border payments

OCBC pilots blockchain-based cross-border payments

14 November 2016  |  6797 views  |  0 comments | 4 tweets | 10 linkedin
OCBC enables cash transfers via Siri and iMessage

OCBC enables cash transfers via Siri and iMessage

28 October 2016  |  13071 views  |  0 comments | 12 tweets | 15 linkedin
OCBC increases transfer limit on mobile Pay Anyone service to $1000

OCBC increases transfer limit on mobile Pay Anyone service to $1000

05 September 2016  |  5882 views  |  0 comments | 3 tweets | 4 linkedin
OCBC opens developer portal for API access

OCBC opens developer portal for API access

17 May 2016  |  7185 views  |  3 comments | 3 tweets | 11 linkedin
OCBC Bank launches fintech innovation unit and accelerator

OCBC Bank launches fintech innovation unit and accelerator

01 February 2016  |  7334 views  |  0 comments | 8 tweets | 1 linkedin
Singapore's OCBC lets customers send money to Facebook friends

Singapore's OCBC lets customers send money to Facebook friends

12 May 2014  |  10580 views  |  1 comments | 13 tweets | 21 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.aciworldwide.comVisit info.nice.comVisit https://secure.vasco.com

Top topics

Most viewed Most shared
Flux ready for take-off on Barclays Launchpad; scores trial with Costa CoffeeFlux ready for take-off on Barclays Launch...
10554 views comments | 4 tweets | 9 linkedin
Handelsbanken trials micro contactless cardsHandelsbanken trials micro contactless car...
9573 views comments | 18 tweets | 30 linkedin
PayPal ready to spend $3bn a year on acquisitionsPayPal ready to spend $3bn a year on acqui...
8113 views comments | 13 tweets | 17 linkedin
Championing financial inclusion and helping the UnstoppablesChampioning financial inclusion and helpin...
8109 views comments | 3 tweets | 1 linkedin
No greater change will occur than that in financial servicesNo greater change will occur than that in...
7663 views comments | 7 tweets | 13 linkedin

Featured job

to GBP £90K base, double OTE (estimate)
London, UK or Europe

Find your next job