OCB has been a pioneer in digital transformation since 2018, when it launched the first version of its digital bank, OCB OMNI. This initial version stood out with unique features such as financial management, a shopping cart, periodic/future payments, a widget notebook, and online savings accounts. OCB OMNI received an overwhelmingly positive response from users, exceeding expectations with its convenience, extensive features, speed, and, most importantly, its high level of security and personalization. After three versions and significant changes to the interface and the addition of superior features, in May 2024, the bank officially introduced OCB OMNI 4.0 in collaboration with Backbase, a leading global financial technology company. With this new version, customers can open and complete account registration and choose their preferred account number within just two minutes. Specifically, the application verifies customers’ identities using advanced electronic identification technology and performs a comparison with the national population data, including biometrics.
Additionally, the bank will employ FIDO security technology for this version of OCB OMNI, featuring a robust encryption algorithm and multi-layer security for each transaction, making it the safest option available today. Combined with OCB‘s readiness to implement biometric authentication from July 1, 2024, in accordance with SBV Decision 2345, the bank is committed to ensuring the security and protection of its customers’ financial information.
“Currently, Liobank is one of the few applications on the market that can provide 100% online lending. Notably, this application facilitates loans and credit cards with varying limits for individuals with middle to high incomes. All registration and completion processes on Liobank are fully automated and digitalized, eliminating the need for customers to visit any branches to use the banking services”, added Mr. Nguyen Dinh Tung. According to statistics, as of the end of 2023, the OCB OMNI digital bank recorded 55 million transactions, a 61% increase compared to 2022 and a 25-fold increase compared to 2018. Online savings balances increased by 55% compared to 2022, with the ratio of online savings customers to total savings customers reaching 41%. CASA balances in 2023 increased by 44% compared to 2022. To date, after more than a year of its launch, Liobank has acquired more than 300,000 new customers and has been downloaded by 600,000 users, earning a 5-star rating on both the App Store and Google Play. OCB’s relentless efforts in product development and brand communication have recently been recognized with a series of awards from Mibrand, including: Ranking in the TOP 8 strongest private bank brands in 2023, up one place from the previous year, with a brand health score of 23 points, a 5-point increase from 2022. OCB was also recognized as the fastest-growing bank brand, providing the best customer service, and being the most beloved brand. Additionally, the OCB OMNI digital banking platform received two awards: The banking application with the clearest and easiest-to-understand language and information for users and the easiest-to-use banking application. Latest article Unlocking Homes for All: Social Housing Projects Take Center Stage in October’s Property Releases
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“OCB Embraces Digital Transformation in Banking for 2024 and Beyond”
"Oriental Commercial Joint Stock Bank (HOSE: OCB) showcased its digital prowess at the 2024 Banking Digital Transformation event, presenting the exceptional OCB OMNI 4.0 and the cutting-edge digital banking platform, Liobank. These innovative solutions have earned the trust and high praise of both the market and customers alike, setting a new standard in the industry."
