OCBC Malaysia customers will be able to use the digital security token – OCBC One Token - from March 2019.

 Integrated for use with biometric authentication or access code and PIN, OCBC OneToken offers customers access to all digital banking services on-the-go and on their desktop, eliminating the need for SMS one-time passwords (OTP) or hardware tokens. This service has been available to all OCBC Singapore customers since January 2019. OCBC Malaysia customers will be able to use this service from March 2019.

 The digital security token automatically authenticates transactions on the OCBC Mobile Banking app, and allows customers to approve transactions on their registered mobile phone when banking on other devices. Even if a customer is travelling or has no data network connectivity, OTPs can be generated offline on their OCBC OneToken-registered mobile phone. Customers can also instantly re-activate OCBC OneToken on another phone if they switch or upgrade devices, which happens once every two years on an average in Singapore.

“Everyone has their mobile device with them almost all the time, so having OCBC OneToken on their mobile makes digital banking totally frictionless – no SMS OTPs, no hardware tokens, no passwords needed for authentication. We are excited about the positive initial customer response, and are confident that a majority of our digital consumers will embrace this,” says Aditya Gupta, head e-business, Singapore & Malaysia, OCBC Bank.