FRANK by OCBC goes fully digital with e-KYC platform


"We are constantly on the lookout for digital banking solutions that make things simpler, faster and more convenient for our customers – without compromising on security," said OCBC Bank managing director and head of consumer financial services Anne Leh

KUALA LUMPUR: Customers of OCBC Bank (Malaysia) Bhd are now able to sign up for digital banking service FRANK by OCBC without physically stepping into a bank branch.

In a statement, the bank said the service now comes with the highly anticipated e-KYC (electronic know your customer) platform that enables fully remote account opening, with the necessary levels of controls and security.

"We are constantly on the lookout for digital banking solutions that make things simpler, faster and more convenient for our customers – without compromising on security.

"Now that we are onboarding customers remotely, they will need only to snap a photo of their MyKad, and then provide verification by uploading a selfie during the process.

"Such convenience is key to ensuring the vital aspects of our customers’ digital banking experience are addressed,” said OCBC Bank managing director and head of consumer financial services Anne Leh.

Leh added that apart from digital banking, FRANK by OCBC offers the "Save and Spend Pots" proposition whereby customers can immediately benefit from earning higher interest rates while maintaining control over when to spend their money.

Under this financial service offering, there are no restrictive lock-in periods or early withdrawal penalties.

It also does not require the usual high minimum initial placements of an FD and customers can start their savings journey from as low as RM20.

FRANK by OCBC comes with the FRANK debit card that seeks to provide greater convenience by enabling contactless payment across 400,000 merchants and access to about 14,000 ATMs nationwide.

Additionally, there is no foreign exchange mark-up when performing overseas transactions as well as for spending in foreign currency when making online purchases, unlike what is typical of most cards.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

OCBC , FRANK by OCBC , e-KYC , digital banking , Anne Leh

   

Next In Business News

Nasdaq futures slump 2% as rising yields spark tech rout
UK employers add record number of jobs, unemployment falls
Starbucks ties up with Meituan to bolster presence in crucial China market
Australian shares slip as healthcare, banking stocks drag
China has plenty policy tools in reserve to cope with slowing economy - state planner
BOJ raises inflation forecasts, maintains ultra-easy policy
US yields up along the curve as traders brace for hawkish Fed
Oil rises to more than 7-year high on Mideast tensions
China Merchants Bank-backed SPAC files first application under new Hong Kong rules
Asia shares tick higher as spotlight stays on Fed

Others Also Read


Vouchers