OCBC Malaysia introduces biometric authentication for mobile banking transactions
Malaysia’s OCBC Bank has launched OCBC OneTouch, a mobile banking app that leverages Apple’s Touch ID technology to create a fingerprint recognition system to give customers quicker access to the balances in their bank accounts, cards and investments.
In a report in IBS Intelligence, OCBC Bank’s Head of E-Business Roy Heong commented: “With the majority of mobile banking transactions revolving round checking of account balances, we view the introduction of OCBC OneTouch as key to meeting a significant need of customers in today’s digitally-driven environment. OCBC OneTouch represents another massive stride forward in the journey toward greater convenience and security, two key elements that are sometimes on opposite ends of the spectrum, but both of which customers today demand in order to keep up to date with their finances.”
In May, the bank announced that retail customers will be able to use a voice biometrics solution to authenticate a majority of banking transactions by the fourth quarter of this year.