OCBC launches fingerprint-secured business banking mobile app

Source; OCBC. A finger is all that is needed to check business
account balances.

OCBC Bank has become the first Singapore bank to launch a business banking mobile app, the bank said. The OCBC Business Mobile Banking app, that uses biometric authentication, enables smartphone users to:

 View balances for business accounts, including current accounts and time deposits 

 Check the status of incoming and outgoing funds 

 View business debit card transactions. 

Business customers have indicated that they would like to perform the above three tasks while on the move, the bank shared, as they want to be in control of their company’s operating cashflow; have the assurance that payments are being made, and funds received; and get quick access to related information. Enquiries relating to the three tasks accounted for more than 15% of calls made to the Bank’s call centre for businesses, the OCBC Business Banking Commercial Service Centre, in 2015. 

The new app, featuring OCBC OneTouch which leverages Apple’s Touch ID technology, will allow Singapore-registered users of the Bank’s business Internet banking portal, Velocity@ocbc, to access their account balances and transactional activities using fingerprint recognition. OCBC estimates that over 120,000 customers will benefit from the app, which can be used anytime and anywhere, even overseas. 

Said Gregory Trotter, Head of Cash Management, Global Transaction Banking, OCBC Bank: “With banking information at their fingertips, this new OCBC app will empower business owners to make decisions on the go. 

"Our studies have shown a 30% increase in the number of calls from customers enquiring about their business account information in the last three years. The need to know their account balances and status of incoming and outgoing funds are clearly critical for business owners to effectively manage their day-to-day operations. Understanding this need, we developed this app to provide control, assurance and accessibility to our customers, which fits their business requirements as well.” 

Velocity@ocbc customer Fanny See, Chief Marketing Officer and co-founder of Detrack Systems said: “I like the simplicity and convenience that the new OCBC app offers. I can now check my company’s balances and the status of our payments and receipts – especially business debit card transactions – when I’m on the go. All it takes is the touch of a button and I’m on top of my company’s cashflow.” Detrack Systems developed a mobile app-based tracking system for logistics companies.

Interested?

OCBC OneTouch is available on Touch ID enabled Apple iPhones, such as the iPhone 5s and newer models that run on at least iOS 8 operating system (or later versions). To get started, customers need to download the OCBC Business Mobile Banking app from the Apple App Store. They will need to perform a one-time activation by keying in their Velocity@ocbc organisation ID, user ID and password, followed by a one-time password (OTP) sent via SMS or security token. Thereafter, within the app, customers need only to place their finger on the home button to view their account balances and transactional activities. 

The OCBC Business Mobile Banking app is also available for Android phone users on Google Play. Customers using Android phones will need to perform a two-factor authentication (2FA) using their security token or SMS-OTP to log in. 

Download the OCBC Business Mobile Banking app

Read the WorkSmart Asia blog post on Touch ID and OCBC's mobile banking and OCBC Securities apps

Hashtags: : #ocbcbank, #ocbcbusinessmobileapp, #ocbcbusinessbanking

Source; OCBC. A finger is all that is needed to check business account balances.

Kuwait Finance House introduces Al Rabeh salary account

Kuwait Finance House (KFH) has launched the Al-Rabeh salary account, which offers clients the opportunity to win two 2016 Range Rovers and 3 kg of gold every quarter. Al-Rabeh is also an investment savings account that gives clients annual dividends.

The account is offered for clients wishing to transfer their salaries and manage their personal accounts with the ability to save and invest. Al-Rabeh account is available for individuals in KD, and it requires salary transfers to enter the draw. KFH invests 100% of the sum available in the account according to mudarabah principles, where profits are calculated according to the minimum monthly balance invested.

Interested?

Clients can open this account at any of KFH 64 branches around Kuwait. The draws are held in January, April, July, and October, provided that three rounds of salaries have been deposited in the three months prior to the draw, and a minimum monthly balance of KD50 by the end of each month is maintained. Every additional KD 50 in the account entitles clients to additional chances in the draw.

Mashreq offers existing customers foreign currency support

Source: Mashreq Bank.

Mashreq in the UAE is offering an instant Foreign Currency Account (FCY) to existing customers, who can open the new account online, at no additional cost and with full transactional capability.

Once open, customers can transfer funds from any existing account to buy foreign currencies like US$, the Euro, British pound and A$ for the FCY-denominated account. It can also be used for inward or outward remittances.

Tooran Asif, Head of Personal Banking, Mashreq said, "We understand our customers’ needs for convenient banking services, and we know the hassle people go through with currency exchange and services. Mashreq is currently the first bank in the UAE to offer the new instant FCY facility to customers. This is yet another showcase that Mashreq is advancing rapidly and we are committed to creating innovative products and services that provide quick and reliable solutions."

Aref Al Ramli, Head of Electronic Business Innovation commented, "We want to provide our customers with the most advanced and secure platforms to carry out their everyday banking transactions. The FCY is aimed to provide customers with instant, efficient and a smooth service and with this service we reflect on Mashreq’s commitment to continue extending its customers with the best banking services and products."

For additional accessibility, select Mashreq branches will allow US$, Euro and British pound balances to be withdrawn.

Use iSend from anywhere to top up Smart and Sun mobile accounts

iSend, a global electronic payment service for people who support family members in other countries, now allows iSend customers worldwide to provide mobile top-ups to the combined 73 million subscribers of Smart Communications and Digitel Mobile Philippines (Digitel) through its mobile brand Sun Cellular (Sun). Both companies are part of the Philippine Long Distance Telephone Company (PLDT), the largest telecommunications company in the Philippines.

Said Steve LaBella, iSend President and CEO: "Consumers who purchase recharges for prepaid mobile subscribers of Smart and Sun service will know those recharges will be delivered with exceptional reliability, backed by closely coordinated service."

While the service is billed for 'family and friends', a service like iSend's could also be used as a reward in an international loyalty programme for partners or customers. 
 

iSend's mobile top-ups are currently available for purchase at more than 150,000 retail locations in the Western hemisphere, and online at http://www.aryty.com/. Top-ups transfer immediately to recipients' prepaid phones at no charge above the normal price of airtime, and the service has become a highly popular means of keeping families and friends in touch across borders.

Anyone wanting to top up the cell phones of friends and family who are Smart or Sun customers can currently try the service for free, including free call time, at http://www.aryty.com/.