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  • OCBC Bank Launches Mobile Keyboard to Enable Cashless Payments

    OCBC Bank Launches Mobile Keyboard to Enable Cashless Payments

    OCBC Bank has launched a mobile keyboard that allows customers to make peer-to-peer payments without having to exit their current mobile applications. The OCBC Keyboard can be used within any mobile app or browser – for instance, within Facebook, Whatsapp, Instagram or Chrome – to send money instantly to anyone with a bank account in Singapore, including those who have not yet registered for PayNow. The payment rides on the OCBC Pay Anyone e-payment service and can be done using just the recipient’s mobile number.

    The OCBC Keyboard follows on the heels of OCBC Bank’s launch of e-payments integrated with Apple’s Siri and iMessage for iPhone users in 2016, enabling customers to make instant funds transfers with a voice command to Siri or within the iMessage app while engaged in a chat. With the OCBC Keyboard, the convenience of making an e-payment is extended to any app on Android devices running the Android 4.4 KitKat operating system or better. Payments are completely secure as they are authenticated with the sender’s mobile banking credentials.

    Making a payment via OCBC Keyboard

    Imagine being able to make an e-payment as easily as sending an “emoji” to a friend while chatting on Whatsapp, or while negotiating with a potential seller on the Carousell app. Users can automatically access the OCBC Keyboard on any app on their mobile phones once they have updated the OCBC Mobile Banking app to the latest version. They will need to perform a simple one-time set up to enable the OCBC Keyboard and make it the default keyboard on their phone.

    To send money, users simply tap on the OCBC Pay Anyone icon on the keyboard without exiting or switching from their current app activity.Once they select a recipient from their contact list – which is automatically synced with the keyboard – they will be guided to complete the transfer using OCBC Pay Anyone within the keyboard. Once payment is complete, the user can continue accessing the original app.

    Boosting cashless payments

    In alignment with Singapore’s Smart Nation agenda and its drive to go cashless, the OCBC Keyboard is the latest in a series of OCBC Pay Anyone e-payment services that OCBC Bank has introduced to encourage customers to embrace the move away from cash.

    The adoption of the recently launched PayNow service amongst OCBC Bank customers has been exceptionally strong, with over 200,000 signups to date. E-payments done via the OCBC Pay Anyone service have increased 35 per cent since the launch of PayNow, and one in every two PayNow transactions is via OCBC Pay Anyone.

    Mr Aditya Gupta, OCBC Bank’s Head of E-Business Singapore, said: “With OCBC Keyboard, we are embedding payments in our customers’ lives and making it completely frictionless for them to pay while they go about everyday tasks like chatting on Whatsapp, sending emails, buying items on Carousell or browsing the Internet. I’m confident that this added convenience will exponentially increase the adoption and usage of e-payments, including PayNow transfers. We will continue to push the boundaries on e-payments and move the needle in driving Singapore towards becoming cashless.”

    Evolution of OCBC Pay Anyone

    Launched in 2014, OCBC Pay Anyone was the first peer-to-peer mobile payment service offered by any bank in Singapore that enabled customers to make a payment directly into a recipient’s bank account using just a mobile number, email address or Facebook, without having to perform transaction signing using a security token or to add the recipient as a “payee”.

    In September 2016, the daily transfer limit on OCBC Pay Anyone was increased from $100 to $1,000, bringing greater convenience to customers and allowing payments for bigger-ticket items. In October 2016, OCBC Bank further enhanced OCBC Pay Anyone by enabling transactions using Apple’s Siri voice command feature and directly within iMessage.

    In May this year, OCBC Bank launched its first standalone mobile payments app – the OCBC Pay Anyone app – which now consolidates all OCBC Pay Anyone e-payment services into a one-stop shop for customers’ convenience: Peer-to-peer QR code payments via PayNow, QR code payments to NETS merchants, peer-to-peer e-payments and the integration of OCBC Pay Anyone with Apple iPhone’s Siri and iMessage.

    Enabling the OCBC Keyboard for e-payments

    The OCBC Keyboard is available to all OCBC Bank customers using Android 4.4 KitKat devices with the latest OCBC Mobile Banking app. The app can be downloaded from the Google Play Store.

    Customers can enable OCBC Keyboard by following these steps:

    • Tap ‘Pay now’ in the OCBC Mobile Banking app or ‘Send Money’ in the OCBC Pay Anyone app for a tutorial on setting up the keyboard
    • Users will be guided to turn on OCBC Keyboard in Settings and make OCBC Keyboard the default keyboard

    The OCBC Keyboard is now ready to be used as the primary keyboard.

    Making a payment using the OCBC Keyboard

    • Switch to the OCBC Keyboard if it is not the primary keyboard in use
    • Tap on the OCBC Pay Anyone icon on the keyboard to start payment
    • Select the contact you wish to pay to
    • Enter your online banking access code and PIN
    • Select the account to send money from. This step is automatically skipped if you have only one account.
    • Enter the amount to send
    • Create a six-digit passcode to be given to a non-PayNow registered recipient. If the recipient is PayNow-registered, no passcode is required. Confirm the recipient’s name and mobile number on the review screen to proceed.
    • Authenticate payment with a One-Time-Password

    You can then return seamlessly to what you were previously doing on your mobile device. PayNow-registered recipients will receive the payment directly into their bank accounts. If the recipient is not PayNow-registered, they will receive an SMS link. Share the passcode with them to collect the money.

     

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  • Myanmar’s First Private Bank to modernise banking operations with Misys

    Myanmar’s First Private Bank to modernise banking operations with Misys

    First Private Bank (FPB) has chosen Misys FusionBanking to streamline operations and digitalise as it takes a significant role in contributing to Myanmar’s growing economy. The bank, which received the first banking licence in Myanmar in 1992, aims to facilitate access to financial services for all and will transform its retail, corporate and digital offering to bring new products and enhanced services to customers quickly and efficiently.

    “The market here has been through immense change across all industries, and banking is no exception. As we come into a period of expected rapid growth, competition is heating up and customers are demanding superior products and services,” said Dr Sein Maung, Chairman at FPB. “Our mission is to deliver efficient, transparent and trustworthy banking to all and we know that requires a slick, modern technology platform at the core. Misys technology is flexible and scalable and will form the foundation for efficient, digital banking here at FPB.”

    Myanmar’s economy is expected to grow an average of 7.1 percent per year in the next three years. Amidst increasing competition, FPB will be able to provide consumers and businesses with relevant and innovative products and services and shape an enhanced digital experience. This will enable it to capture a greater share of the country’s retail and corporate banking market, including opening up services to those that are currently unbanked.

    This project will see Misys FusionBanking Essence and Digital Channels provide an efficient, connected front, middle and back office with advanced analytics to support the bank in better understanding consumer needs. FPB will be able to launch personalised products quickly and cost effectively in line with demand. Customers will be able to view and access their accounts across channels, get salaries credited electronically, transfer money and pay bills from different branches or on the go via mobile. The FusionBanking Insight analytics module will also enable the bank to track performance and obtain a consolidated view of customer preferences.

    Meanwhile, Misys FusionBanking Trade Innovation and Corporate Channels will help the bank provide unified online commercial banking services and digitalised, efficient trade finance capabilities. The move will ensure rapid access to trade finance and working capital for corporate clients, and support Myanmar’s businesses in expanding into international markets. With an automated trade finance solution, the bank can grow volumes quickly and securely with minimal impact on operations.

    “Creation of a stable banking system has a powerful part to play in supporting this phase of Myanmar’s economic and social growth,” said Simon Paris, President at Misys. “Developing regions can often leap-frog mature banking market challenges, since they are not saddled with legacy technology and processes and can modernise faster. Digital services like those we are providing to FPB make a significant difference. This is especially true in a country where many locals are underbanked but now have access to the latest smartphones, having skipped chunkier mobile models of yesteryear. Bringing modern technology into the bank to support this changing dynamic and drive inclusive financial services is aspirational and speaks to a positive future.”

    Big Byte International was instrumental in the deal which saw Misys chosen over other core banking vendors for its modern, componentised technology and expertise in the region. Amit Johari (AJ), CEO, Big Byte International said, “With the launch of our third entity in Myanmar, Big Byte International will continue to provide consulting, sales and support services to banks and FIs across Asia. Myanmar is our key growth market in addition to Singapore and India.”

    With a growing customer base in Myanmar and Asia Pacific, Misys will help FPB to incorporate best practices, processes and technology. Misys FusionBanking will replace the bank’s partially computerised distributed branch system.

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