Business banking at your fingertips with new OCBC app

OCBC's new app taps Apple's Touch ID technology to enable fingerprint recognition.
OCBC's new app taps Apple's Touch ID technology to enable fingerprint recognition.PHOTO: OCBC BANK

OCBC Bank has launched a business banking mobile app that uses biometric authentication.

Smartphone users can view their balances for business accounts, including current accounts and time deposits, check the status of incoming and outgoing funds, and view business debit card transactions with the touch of a finger.

OCBC noted that its business customers said they would like to perform those tasks while on the go.

They also wanted to be in control of their company's operating cashflow, have the assurance that payments are made and funds received, and get quick access to the above information.

Inquiries relating to the three tasks account for more than 15 per cent of calls made to the bank's call centre for businesses last year.

Between 2013 and last year, the number of calls on these tasks increased by 30 per cent. These are the most common calls received.

The new app - OCBC Business Mobile Banking - features OCBC OneTouch, which taps Apple's Touch ID technology, to allow Singapore-registered users of OCBC's business Internet banking portal, Velocity@ocbc, to access their account balances and transactions using fingerprint recognition.

They will not have to log in to the app using their user IDs and passwords. More than 120,000 customers will benefit from this.

A version of this article appeared in the print edition of The Straits Times on April 28, 2016, with the headline 'Business banking at your fingertips with new OCBC app'. Print Edition | Subscribe