OCBC Bank has collaborated with the Inland Revenue Authority of Singapore (IRAS) to integrate the tax authority’s payment application programming interface (API) with the lender’s digital platform, enabling taxpayers to view and pay their income and property taxes on a single platform.
Following the launch of Singapore Financial Data Exchange (SGFinDex) in December last year, OCBC Bank enabled customers to consolidate their financial information on one platform – OCBC Financial OneView – and view their assessable income. With this recent integration of a direct payment method through the bank’s platform, customers can now view their tax balance amounts and make tax payments immediately on the same platform via a seamless one-stop access. The solution eases a common pain-point among taxpayers, who traditionally had to switch between the IRAS platform and the bank’s platform to view their tax details and then make payments.
Sunny Quek, the bank’s head of consumer financial services, Singapore, says: “With an all-in-one view of tax information and the ability to pay them instantly, customers will obtain a holistic picture of their financial health as they can now take into account their tax expenditure and make their tax payments easily via our digital channels. This overview will help customers work out their budget, income and expenses better.”