Asia: OCBC Singapore introduces voice recognition feature for business banking

In the age of digitization, OCBC Singapore was the first bank in Singapore to launch a business banking mobile app that featured biometric authentication in April last year. OCBC continues to break new grounds when they announced earlier last month that they have incorporated voice recognition technology into its business banking mobile app.

The mobile app, Velocity, will now allow users to view account balances, check the status of incoming and outgoing funds, view debit card transactions as well as execute transactions with Siri, Apple’s voice-controlled personal assistant.

While e-payments and account balance enquiries remain the most commonly used business banking services; integration of voice recognition technology is in line with Singapore’s Smart Nation and the e-payments push is expected to encourage business owners to embrace paperless transactions with the greater user experience.

According to RFi Group Data, 17H1 Singapore SME Council, 2 in 5 business owners gave a satisfaction rating of at 8 or greater, out of 10, on their experience with using a mobile app.

Integration of new features, such as voice recognition technology could result in greater user experience and lead to an upward trend in satisfaction ratings when it comes to mobile banking apps.

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