-9524123825-571495048250 TABLES OF CONTENT Section 1

-9524123825-571495048250

TABLES OF CONTENT

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Section 1. Introduction / Background Information
1.1 Background
1.2. Introduction

Section 2. Functions and Features in current application system
2.1 Mobile Banking
2.2 Mobile Wallet
2.3 Biometric Adoption

Section 3. Technology Employed
3.1 Omni-Channel Banking
3.2 Social Media Banking
3.3 Data Analytics

Section 4. Future Enhancements
4.1 Cloud Computing
4.2 Cyber Security
4.3 Others

Section 5. Conclusion
Appendix
Section 1
Introduction / Background Information

1.1 Background
Among other banks, OCBC is the first bank being set up for 86 years. Until today, this bank is one of the second monetary services in Southeast Asia (SEA). It has been highly rated among the world, and most recognised for its monetary authority and resistance of some degree. Most Safest Bank by Global Finance and most managed by The Asian Banker.
It also offer various different services such as commercial banking to manage wealth from consumer to private banking etc.

OCBC has the Top 10 largest shareholders as of 7 March 2017, CitiBank Nominees Singapore Pte Ltd, Selat Pte Ltd, DBS Nominees(Private Limited), HSBC Nominees Pte Ltd etc.
OCBC subsidiaries consist of securities, Great Eastern Holdings, Lion Global Investors (LGI), Bank of Singapore etc.

Section 2
Functions and features in the current application system
2.1. Mobile Banking
An mobile application that users can create an account with OCBC using userID and password which is easy to navigate with good user interface.
Some examples of OCBC Mobile Applications:
OCBC Mobile Banking

2.1.1 Check your own account amount and manage it
Voice Recognition -> Google or Siri
First bank in Singapore that allows customers to make transactions with just using their own voice. By using voice command to Siri: Apple iMessage platform
Apple users: The bank present voice powered in mobile banking for users to make fast e-payments to check the bank amount balances and credit card details.
OneLook (Face Recognition) only for iphone users
Able to view and make transactions of customer’s information.

2.1.2 Map Location of various OCBC Banks
This feature allows users to search and locate the nearest ATM or branch
Easy Q where it uses digital queue ticket to serve customers. This allows a smooth and fast customer service where consumers do not need to wait for a long time to be served.

However, the services is not available for: FRANK advisory, Safe Deposit Box and Business Banking

2.1.3 Track investments at a glance
OCBC OneWealth™
This application allows investors to do investment, which they will have their customised, keep up to date investment information and able to receive notification alerts at all times. Based on customer’s insights. Compared to other banks, this is first in Singapore to be launched as they are able to keep up to date of their latest investments news.

Benefits: – Faster, convenient especially for investors
-Safer to use as PINS are protected and confidential to customers

2.1.4 View business transactions
OCBC Business Mobile Banking™
Transfer money to other partners for business users.

Has authorisation for trading of cash transactions
This is done by using SMS OTP Login: by entering the 6 digits to view the business accounts

2.2 Mobile Wallet
Pay and transfer funds
OCBC PayAnyone™
QR codes: customers can transfer or send QR codes to other OCBC users through PayNow application and also request payment. Payer are able to scan the QR code being shown on the phone to successfully complete transaction. Maximum limit is $1,000 daily.
Peer to peer (P2P) payments
Able to pay payee through their Registered Mobile which they have their own unique mobile numbers. This is done by scanning the personalised QR code (can be shared through social media) using face recognition or fingerprint etc.
OCBC uses blockchain technology for local and interbank funds transfer.

uses payment blockchain solution with BCS Information Systems (BCSIS)

2.3 Biometric Adoption
OCBC OneTouch™ (Fingerprint Technology)
View latest transactions and balances using fingerprint (OCBC OneTouch)
1: This icon is for users to tap on the mobile screen which can recognise unique fingerprint.
2: After logging in through fingerprint, users have to activate the application by using one time password. Ibanking access code and PIN number is required to activate this app.

3: Verify user identity to login. This is done by receiving a message of One Time Password (OTP) SMS to the user’s mobile phones.

Section 3
Technology Employed

3.1 Omni-Channel Banking

3.2 Social Media Banking

channel ocbc channelocbc is OCBC`s official Youtube Channel. channel ocbc aims to inform dedicated customers about their goals and recent employed technology.
OCBC Twitter
#OCBC cycle ocbc cycle is an annual event hosted by OCBC that aims to promote awareness of OCBC banking to Singapore Residents. The cycling route in the event involves Singapore`s tourists attractions such as Marina Bay Sands, Gardens By the Bay and Singapore Flyer which gives customers an exciting and scenic ride, as well as to promote OCBC to them.

3.3 Data Analytics
HR Data Analytics: A data infrastructure that combines employee`s information into a single system and self-service dashboards that provides convenient views of business data and insights.

Results of Data Analytics: Showing candidate work progress , as well as their problems in a specific position and helps remove duplicate work. The analysis also helps stall talented employees to provide early actions to convince them to continue working for OCBC.
4.1 Cloud Computing
Mix of Hybrid and private cloud infrastructure.
OCBC has built a $240 million purpose-built center (cloud enabled)
Owned by the bank and customised based on its business needs, requirements and operations
Allows the bank to control on its security and access by reducing the risk of its space or capacity
Eliminate the various risks linked with interdependence on activities in shared facilities

Benefits:
High security
High resiliency
High efficiency
Built to defend against cyber attacks and security beaches

4.2 Cyber Security
The new region centre (worth $240million) are able to support its operation requirements for the next 30 years to prevent the cyber-attacks and threats.

Protecting its security and confidentiality of client or organisation information to provide them a safe and secure online environment.

Section 4
Future Enhancements (Suggestions)

4.1 Others- Artificial intelligence3352800200025

First bank to set up the AI (Artificial Intelligence) unit on AI capabilities.
Two years ago, there has been AI operations, which has been developed to reply on customers service of enquiries on housing and renovation loans.

Just last year, bank has cooperated with “Thetaray” to further identify some possible suspicious transactions (security issues)
This unit is built for testing purposes for all the new AI technologies which will be showcase the functions of the technology before it will be included in the current banking system.

Benefits: Reducing the huge number of transactions of money laundering by 35%
Accuracy rate of identifying various suspicious transactions has also increased by 4X.
[email protected] (invested for $10million for past 3 years) has also worked with AWS (Amazon Web Services) DeepLens, to provide personal user experience for clients of using facial recognition technology by using video camera of Deep machine learning which can be implemented at various bank branches and ATMs. In the lab, it will help to improve the skills of the current data analysts and technologists by hiring data science talents with AI expertise. This will be done through workshops which is specialised and they will learn modelling and predictive machine learning which will eventually benefit the bank in the near future.
In the future, few years down the road, perhaps the AI unit will soon have more experts dealing with new technologies, as this is used in the gaming industry and providing a huge competitive advantage to the bank compared to other local banks.

Section 5

5.1 Conclusion
Technology will keep on going where fintech companies and institutions will provide ways of increasing customer’s confidence of using their products and services. In future, the banks will further work with companies that deals with technologies to further improve our experience in banking.

Appendix
https://www.ocbc.com/personal-banking/online-banking/mobilebanking.html
https://www.ocbc.com/business-banking/accounts-and-services/businessmobile.html
https://www.networksasia.net/article/ocbc-bank-purpose-built-data-center-better-shared-services-facility.1521523073
https://www.businesstimes.com.sg/consumer/ocbc-introduces-voice-powered-mobile-banking-for-apple-users

OCBC Bank Announces it Quietly Went Live With a New Singapore Data Center in Q3, 2017


https://www.ocbc.com/group/media/release/2018/ocbc-bank-first-in-singapore-to-launch-siri-banking.html

Oversea-Chinese Banking Corp Limited’s Digital Innovation: What Investors Should Know

OCBC OneTouch Lets App Users Access Banking Details With Fingerprinting Technology


https://www.instagram.com/ocbcbank/?hl=en
https://www.youtube.com/user/channelocbc
https://www.businesstimes.com.sg/banking-finance/ocbc-launches-first-business-banking-mobile-app-in-singapore-with-biometric
https://www.opengovasia.com/articles/ocbc-bank-builds-s-240-million-cyber-secure-regional-data-centre
https://www.businesstimes.com.sg/companies-markets/ocbc-sets-up-in-house-ai-unit-with-initial-investment-of-s10m-over-3-years
https://www.imda.gov.sg/infocomm-and-media-news/in-conversation-with/2018/2/jason-ho-a-digital-strategy-is-also-about-people
https://www.ocbc.com/group/media/release/2018/ocbc-launches-ai-lab.html