Let your fingerprint do the banking

OCBC customers can use mobile devices with fingerprint sensors to get their latest bank-account details.
OCBC customers can use mobile devices with fingerprint sensors to get their latest bank-account details.PHOTO: OCBC

OCBC's OneTouch app lets clients check account details with certain iOS devices

OCBC Bank customers can now view the last 10 transactions on their bank, card and personal line of credit accounts at the touch of a finger.

The new features on its OCBC OneTouch mobile application, which is available only for users of iOS devices with Touch ID fingerprint sensors, also give customers access to information on their credit card accounts, such as total amount due, minimum amount payable and payment due dates.

While other banks still require a one-time password from customers on top of the usual user name and password to access such information, OCBC is the only bank in Singapore to allow customers to view account balances and transaction history using fingerprint-recognition technology.

The bank estimated that it could save $120,000 a year by eliminating the need to SMS the one-time password to customers.

OCBC OneTouch, which was launched in March, has recorded a 35 per cent monthly growth and has been used almost a million times, the bank said. It also noted that OneTouch users are twice as active on mobile banking, compared with Internet banking customers.

OCBC said customers need to make only a one-time activation by keying in their OCBC Mobile Banking access code and PIN. Thereafter, they need only place their finger on the home button to view their account balances and transaction history.

The bank does not store any account numbers, balances or other related information on the phone.

A version of this article appeared in the print edition of The Straits Times on August 03, 2015, with the headline 'Let your fingerprint do the banking'. Print Edition | Subscribe