OCBC Group adds fingerprint authentication to mobile trading app

April 21, 2016 - 

Singaporean financial institution OCBC Group has developed the OneTouch fingerprint authentication feature and applied the technology to multiple mobile applications for banking and stockbroking.

Launched in March 2015, the OCBC Mobile Banking app for iPhones was the first banking app in Singapore to allow customers to access their balances and transaction histories across their bank accounts, credit cards and investments by swiping their fingerprint on their device.

The bank has now expanded the OneTouch technology to include brokerage services. OCBC Securities launched the iOCBC TradeMobile app for iPhones, which allows customers with an online account to view their stock portfolios and related market information with their fingerprint using Apple’s Touch ID technology.

OCBC Bank has also introduced the OneTouch feature for the Android version of the OCBC Mobile Banking app, making it the first bank in Singapore to offer an Android banking app with a fingerprint authentication feature.

Customers who use selected Samsung phone models that are equipped with the recognition feature and run on the Android 4.4 KitKat operating system or newer can now receive fingerprint access to their balances for all their banking accounts, credit cards and investments, as well as credit card details.

“With the new iOCBC TradeMobile app, our customers now have detailed, real-time information about the markets and about their portfolios at their fingertips, which will undoubtedly help them make better investment decisions,” said Raymond Chee, managing director of OCBC Securities. “In the past three years alone, the number of trades per month that our customers perform through our mobile app has almost doubled. This makes it all the more important for us to keep driving digital innovations to enhance our customers’ mobile experience.”

Since it launched a year ago, the OCBC Mobile Banking app for iPhones has been accessed through the OneTouch fingerprint authorization feature approximately five million times.

OCBC Securities is currently developing a version of the new app for iPad and Android models for release later this year.

Previously reported, OCBC recently launched Touch ID-integrated mobile banking apps to enable customers to sign into their accounts using fingerprint recognition.

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About Justin Lee

Justin Lee has been a contributor with Biometric Update since 2014. Previously, he was a staff writer for web hosting magazine and website, theWHIR. For more than a decade, Justin has written for various publications on issues relating to technology, arts and culture, and entertainment. Follow him on Twitter @BiometricJustin.