The OCBC Secure Chat Banking Mobile App will become the country’s first banking solution to enable premier banking customers to communicate with, and give financial transaction instructions to, their relationship managers securely via a mobile app.
“The banking public has become wary even when receiving legitimate calls from their banks. This has made it difficult for banks to carry out even simple day-to-day call-back verifications for confirmation of transactions. So we decided to tackle the issue head on by collaborating with Fintech company Moxtra Inc to deploy and test the solution over the next 12 months. After this, the test results will be reported to the central bank for their consideration for commercial deployment. This will improve people’s experience of our services without compromising security; it will also ultimately safeguard them from falling victim to phone spoofing and scamming activities.”
OCBC, Head of Consumer Financial Services