Singapore, 22 July 2010 – Oversea-Chinese Banking Corporation Limited (“OCBC Bank”) and its subsidiary, OCBC Securities Pte Ltd (“OSPL”), announced that they will be offering banking and securities trading services on iPad with effect from 23 July 2010. The applications will be made available through the Apple App Store in Singapore.
The new service offerings are in line with OCBC Bank’s ongoing strategy to proactively leverage on technological innovation to make it easier for our customers and investors to perform retail banking and securities trading transactions, anytime and anywhere. It is also in keeping with OCBC Bank’s commitment to offer our customers choice of multiple channels to suit their lifestyles.
Since its launch in May 2010, more than three million iPad units have been sold worldwide. Similar to the popularity of the iPhone, OCBC Bank recognises that the iPad can potentially become an important tool of engagement with customers and investors alike.
Mr Patrick Chew, OCBC Bank’s Head of Delivery, Global Consumer Financial Services said, “The need to evolve our banking channels with devices like the
iPad is important as customers’ expectations grow in tandem with what technology can offer. Consumers expect convenience and ease when they go about with the basic necessities of life, especially when it comes to services that they use on a regular basis, such as banking.”
“Following the increased usage of OCBC Mobile Banking when it was made available on iPhones in 2008, the iPad’s responsive high-resolution multi- touch display has allowed us to create a banking application that will enable users to have an even better banking experience.”
OCBC Bank customers can enjoy better layout and more intuitive use of the services on iPad. Among the suite of banking services that our customers can carry out are:
The OCBC iPad banking application will continue to evolve after today’s launch, with new banking services added progressively.
Mr Hui Yew Ping, Managing Director of OCBC Securities Pte Ltd shared, “Since the launch of our iOCBC TradeMobile iPhone application in May this year, there has been close to 10,000 downloads. This shows that investors are increasingly tech-savvy and want to leverage on technology to make investing faster and more accessible.”
He added, “We have customers who are based outside Singapore who are downloading iOCBC TradeMobile. Correspondingly, we see about 35% of the trading transactions through iOCBC TradeMobile carried out outside the Singapore market. This trend is in line with our global trading value proposition where customers can trade in 14 key global markets anywhere with iOCBC. With iPad being both a mobile and powerful platform with highly intuitive user interface, we believe that trading activity will be further integrated into investors’ lifestyles. iOCBC TradeMobile not only provides our customers with a new trading channel, it will also help us reach out to a new market segment.”
OCBC Securities customers will find the iOCBC TradeMobile iPad application more dynamic and easier to control, with better presentation of on-screen content. The trading features on the iPad were selected based on feedback from our customers as well as our observation of investors’ trading habits. With iOCBC TradeMobile iPad application, our customers can:
OCBC Bank has built robust security features into both applications, including end-to-end encryption of all information transmitted via these platforms. This will ensure that customer data is not intercepted or compromised. Existing OCBC Bank internet banking and mobile banking customers, and iOCBC TradeMobile customers can use their respective IDs and Passwords to access their banking or securities trading accounts via their iPads from tomorrow.