The bank’s mobile application provides data-driven insights using historical transaction data to aid business decision-making for accurate cashflow management. The application also leverages Near Field Communication technology and facial recognition technology to allow for a smoother eKYC process for foreign business owners of Singapore-incorporated SME customers. 

Its active users increased by 80% and transaction volumes and values have jumped by more than 200% over the last three years. 

For its continual improvements such as addition of data driven insights and an industry-first passport authentication via mobile for Singapore based SME owners, the award for Best Corporate Mobile Initiative goes to OCBC Bank for its ‘OCBC Business App’.