OCBC business customers will soon be able to use Siri to transfer funds, check bank accounts
The service will not be available to OCBC personal accounts at this time, just business accounts
OCBC Bank, one of the large banks based in Singapore, announced today imminent plans to allow its business account holders to integrate Apple’s voice-recognition software Siri to check their bank account balance and transfer money.
The features will be available starting on October 9 to SME business customers using iOS 11. OCBC estimates the feature could be used by over 120,000 people.
The service can only be used for business accounts and is not available for the bank’s personal accounts. It’s also only available within Singapore.
The bank is pitching the product as a way for small business owners to perform banking errands easily while on the move.
“SME business owners are time-starved and constantly on the go, and we believe these innovative solutions based on voice recognition technology will vastly improve the way in which our customers manage their everyday business banking needs,” said Linus Goh, the Head of Global Commercial Banking for OCBC Bank in a statement.
Also Read: No kidding! OCBC just became the first bank in Southeast Asia to have an open API
Today’s announcement comes about a month after the company released a new keyboard that allows people to transfer money within third party apps (like, let’s say, WhatsApp).
How does the Siri product work?
The most important part of the product is the OCBC OneTouch Authentication tool. It allows people to use their phone’s fingerprint identification technology to log into the OCBC app and skip the typical username/password process.
It does require some app interaction to fully complete a transaction.
For making an e-payment via Siri, the process is as follows.
The person asks Siri to make a bank transfer from their business account, verifying the request using the OneTouch tool.
Then they confirm the account to be paid from before selecting the receiving account from a pre-approved list.
They verify the amount and click transfer.
Finally, the user will receive an SMS OTP code to review the details and officially send the money.
Users add new payees to the list through the app beforehand, but after the first set-up they will be added to the Siri list moving forward.
For people wanting to check their bank account via Siri, the process is fairly simple. Just ask Siri to check the bank account balance, use the OneTouch Authentication and viola! you can either smile or cry depending on the answer.
Below are some screenshots of the UI:
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Copyright: tang90246 / 123RF Stock Photo
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