OCBC Bank connects to Singapore Government’s identity platform

by Alex Hamilton ; 17th July 2020

OCBC Bank has become the first lender in Singapore to grant users access via the country’s SingPass government identity platform.

OCBC aims to boost digital banking numbers through SingPass

SingPass is a Singaporean identification method and online account management system. It allows Singapore citizens to gain access to a variety of e-services using a single login.

The platform involves over 60 government agencies, and more than 1.6 million Singapore residents use the platform’s mobile app.

“Inclusion and accessibility have been core to our digital transformation narrative,” says Aditya Gupta, OCBC Bank head of digital business for the region.

“I believe that offering SingPass […] as an alternate login will give more of our customers the confidence and convenience to bank with us digitally.”

The Singapore Government Technology Agency (GovTech) manages SingPass. The agency’s senior director for national digital identity, Kwok Quek Sin, has plenty of praise for OCBC.

“OCBC Bank is known for many of its innovative efforts in leading digital transformation,” he says.

The direcrtor adds OCBC “has been one of the early adopters” of the National Digital Identity strategic platform.

Earlier this year OCBC set a target of $17.9 billion for its sustainable finance portfolio. This followed the bank beating its original target two years ahead of schedule.

It has also been one of a few banks planning to make hires in a year in which lenders have announced a multitude of job cuts.

Related: MAS completes multi-currency blockchain testing

Tags: Banking, Financial Services/Finserv, Job Cuts, Mobile, Payments, Regulation OCBC Bank, SingPass BankingTech News Asia Pacific, Singapore

Source: https://www.fintechfutures.com/2020/07/ocbc-bank-connects-to-singapore-governments-identity-platform/