OCBC Bank

NETS launches same-day settlement for hawkers
SINGAPORE (Jan 17): Hawkers are now able receive their sales proceeds from NETS transactions in their bank account on the same business day. NETS, in collaboration with its merchant banks DBS, UOB and OCBC, today launched its same-day settlement for hawkers everyday – the fastest in the industry, giving them faster access to their funds and improving cash flow. There will be no need for ...
OCBC launches new brand campaign, Simply Spot On
SINGAPORE (Oct 29): Overseas-Chinese Banking Corporation (OCBC) today a new brand promise campaign with the tagline Simply Spot On, to be rolled out over three months using an integrated multi-channel communication strategy.   The move comes after previous customer-centric brand campaigns like Stay True and Stay Curious. Ask OCBC, which were launched in 2017 and 2007, respectively. In ...
2 in 3 SMEs expect to go cashless by 2023: OCBC
SINGAPORE (Aug 10): Times are changing for businesses with the boom of the e-payments movement in Singapore. More than 66% or two in three Singapore-based SMEs say that they are likely to go cashless – including doing away with cheques – by 2023, according to a poll conducted by OCBC Bank, two weeks before the launch of PayNow on 13 Aug for businesses. What is even more encouraging is ...
OCBC reports 29% rise in 1Q to $1.1 bil on lower loan provisions and higher income from lending and wealth management
SINGAPORE (May 7): Oversea-Chinese Banking Corporation reported a earnings of $1.11 billion for 1Q18 ended March, an increase of 29% from a year ago on lower loan provisions and higher income from lending and wealth management. This was slightly higher than the mean of five broker estimates of $1.09 billion compiled by Thomson Reuters. Last week, DBS posted a 26% increase in earnings while ...
Ngee Ann Polytechnic partners London's CFTE to launch AI in Finance course
SINGAPORE (Apr 24): Singapore’s Ngee Ann Polytechnic (NP) is partnering London-based Centre for Finance, Technology and Entrepreneurship (CFTE) to launch a new AI in Finance (AIF) course. The AIF course will be a fully online that comprises 18 modules, for financial institutions seeking to update their staff on artificial intelligence (AI) developments in their industry. Included in the ...
OCBC Securities' Dennis Hong to succeed Raymond Chee as MD from May 1
SINGAPORE (Apr 23): OCBC Bank has appointed Dennis Hong (pictured) as the new Managing Director of its wholly-owned brokerage subsidiary, OCBC Securities, from May 1. Hong succeeds Raymond Chee – who has served in that capacity since Aug 2012. In the interim, Chee will stay on as Executive Director of OCBC Securities. He will take on his new role as General Manager of the bank’s ...
Singapore favours ‘organic’ policy in move toward open banking
(Apr 12): Singapore wants its lenders to share data with financial technology and other non-bank firms, but doesn’t plan to force the issue, according to a central bank official. The transition towards “open banking” can be more successful if it takes place without the regulator mandating action, said David Hardoon, Chief Data Officer at the Monetary Authority of Singapore. “You can ...
OCBC signs second cross-border financing partnership agreement with Bank of Shanghai
Main image, left to right: OCBC Bank’s Group CEO Samuel Tsien, Bank of Shanghai Chairman Jin Yu and CEO of Banco Santander Asia Pacific, Antony Hung SINGAPORE (Apr 2): OCBC Bank on Monday signed its second memorandum of understanding (MoU) with China’s Bank of Shanghai at the latter’s Belt and Road Cross Border Collaboration Seminar held this morning. Under the latest MoU, OCBC and ...
OCBC lifts the veil on $240 mil purpose-built regional data centre design to withstand attacks
SINGAPORE (Mar 19): OCBC Bank has lifted the veil on a purpose-built regional data centre that it fully owns and operates, with sufficient capacity to meet surging needs for the next 30 years. The $240 million state-of-the-art facility, sited at an undisclosed location in the eastern part of Singapore, has been in use since third quarter last year. Developed over four years, it has a ...
OCBC is first bank in Singapore to establish AI unit
SINGAPORE (Mar 14): OCBC Bank on Tuesday announced the launch of its own artificial intelligence (AI) unit named AI [email protected] within its Fintech and Innovation Group, The Open Vault at OCBC (TOV), in a move to position itself as an “AI-first” bank. The aim is to deliver greater value to customers by giving them access to banking services through natural user interfaces that are seamless and ...