The OCBC bank recently declared that customers in Singapore can use SingPass to access digital banking services through the mobile banking as an alternative login to access the full suite of digital banking services via the OCBC Mobile Banking app or Internet banking.
SingPass will benefit customers who currently use an access code and PIN instead of fingerprint or facial biometrics to log in to OCBC Bank’s digital banking platforms. The need to remember multiple access codes and PINs is eliminated, while enabling customers to securely access digital banking services.
The SingPass Mobile app allows users to transact with over 60 government agencies online securely. Singapore residents use the SingPass Mobile app to access government e-services including checking their Central Provident Fund (CPF) account balances, filing taxes and applying for public housing.
Mr Aditya Gupta, OCBC Bank’s Head of Digital Business for Singapore and Malaysia, said: “Inclusion and accessibility have been core to our digital transformation narrative. I believe that offering SingPass – a trusted and widely used mode of digital authentication in Singapore – as an alternate login, will give more of our customers the confidence and convenience to bank with us digitally. We have partnered with GovTech to pioneer the co-creation of a trust ecosystem for Singapore’s banking industry using the national digital identity platform, which will radically improve how our customers access and experience our digital services.”
Mr Kwok Quek Sin, Senior Director, National Digital Identity, GovTech, said: “OCBC Bank is known for many of its innovative efforts in leading digital transformation and has been one of the early adopters of our National Digital Identity strategic platform. This month, OCBC Bank has started to offer SingPass as an alternative login to access their digital banking services. We are happy to be able to support our Singapore companies in their exciting digitalisation journeys. GovTech will continue to push out more products on the national digital identity platform to help businesses enhance digital service delivery, improve customer experience and bring about productivity gains.”
Mr Sopnendu Mohanty, Chief FinTech Officer, Monetary Authority of Singapore (MAS), said: “The foundation of digital economy is the seamless integration of public digital infrastructures with essential services. We are delighted that OCBC Bank has broken new ground by enabling access to financial services with SingPass Mobile. MAS has been working closely with the financial industry to foster adoption of foundational digital infrastructures such as national digital identity for seamless integration with the growing digital economy. With the convergence of SingPass Mobile, MyInfo, and PayNow, customers can open bank accounts, access banking services and make payments online seamlessly yet safely.”
