OCBC Bank has become the first and only organisation in Singapore to make tax-paying easier.

On July 22, the bank announced that it has managed to integrate the Inland Revenue Authority of Singapore’s (IRAS) payment API with its digital banking platforms.

The move, which leverages on SGFinDex, now allows customers to view their assessable income on the OCBC Financial OneView, the bank’s one-stop financial planning feature, and pay their taxes immediately on the same platform.

Previously, taxpayers had to switch between the IRAS platform and the bank’s platform to view their tax details and make payments.

According to the bank, the tax feature was derived from learnings from over 500 hours of customer experience lab sessions, involving some 80 customers across different life stages.

Through the OCBC Financial OneView dashboard, customers get to decide if they prefer to pay their tax balances in full or partially.

See also: OCBC first to launch transactional API for instant GIRO setup

Customers can also their outstanding balances on property tax by searching for their tax reference number or postal code, instead of noting the outstanding tax balances across various properties before making their payments.

“Income and property tax payments are among our top five payment transactions by volume today. As one progresses through their career or moves through the stages of life, more attention may be shifted to income and property taxes,” says Sunny Quek, OCBC Bank’s head of consumer financial services, Singapore.

“With an all-in-one view of tax information and the ability to pay them instantly, customers will obtain a holistic picture of their financial health as they can now take into account their tax expenditure and make their tax payments easily via our digital channels. This overview will help customers work out their budget, income and expenses better,” he adds.

As at 9.52am, shares in OCBC are trading 9 cents higher or 0.8% up at $11.99.

Photo: Bloomberg