The new OCB OMNI, built on the foundation of Backbase – a world-leading interactive banking technology company, and SmartOSC, the region’s best digital transformation solution provider, takes your banking experience to the next level. With its one-touch QR payment feature, the app enables seamless transactions at thousands of diverse service points, from e-commerce to travel, along with state-of-the-art digital banking services such as account management, money transfers, bill payments, card services, deposits, loans, and more.
OCB prioritizes security with the implementation of FIDO security technology, featuring robust encryption algorithms and multi-layered security for each transaction. Combined with the upcoming addition of biometric authentication from July 1, 2024, as per the State Bank of Vietnam’s Decision 2345, your financial information is optimally secure and protected.
But that’s not all – this digital banking version also personalizes your experience with modern technologies. The app offers intuitive suggestions with just two clicks, allows for splitting large-value transactions, and categorizes your spending for better money management.
OCB OMNI 4.0 optimizes speed and convenience for users.
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Through the close collaboration of Backbase and SmartOSC, this project went live in just six months, propelling OCB to the forefront of the digital transformation race in the banking industry. OCB has also accelerated the deployment of products, services, and features through Backbase’s interactive banking platform, including critical functionalities such as account management, deposits, bill payments, card services, and loans, all tailored to the unique characteristics of the Vietnamese market.
In its first rollout, OCB successfully migrated over 7,000 internal users to the new platform, receiving highly positive feedback for its smoothness, speed, and safety.
“Vietnam is positioned as the fastest-growing digital economy in Southeast Asia. In this context, rapid market penetration to deliver quality interactions with customers is crucial for banks to gain market preference. I am thrilled that today, OCB officially launches the new version of its digital bank, OCB OMNI, offering a range of modern financial services. We have kept our promise to go live after six months, while the industry standard for developing and transitioning to a comprehensive omnichannel platform usually takes around 18 months. OCB has not only demonstrated strong readiness in modernizing its infrastructure in a very short period but has also done so at half the industry’s standard cost.” said Mr. Pham Hong Hai, Acting CEO of OCB, at the event.
Mr. Pham Hong Hai, Acting CEO of OCB, speaking at the event
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“Flexible modernization is not an easy endeavor, and we are proud to be the pioneering bank in embracing the digital transformation strategy in the industry. Moving forward, OCB will further showcase its capability in building unique and customized journeys on the platform to enable timely and rapid multi-channel penetration,” shared OCB’s representative.
“After interacting with many banks in Vietnam and across Asia, we noticed that many banks still struggle with formulating suitable digital transformation strategies or are still in the planning phase. However, OCB’s leadership’s decisiveness in quickly launching the new-generation digital bank within six months with the Backbase interactive banking platform has helped OCB stay ahead of the curve in delivering on its commitment to putting customers first and prioritizing digital transformation”, said Mr. Riddhi Dutta, Backbase’s Regional Vice President for Asia.
Mr. Le Mai Anh, SmartOSC’s Vice President, shared at the event: “There are two main factors contributing to the success of this OCB OMNI project. Firstly, the strong consensus and deep support from OCB’s senior leadership facilitated a faster development process. Secondly, the Backbase interactive banking platform enabled us to integrate localization requirements with the tool’s micro-services, ensuring the efficient development of the application.”
According to statistics, as of the end of 2023, OCB OMNI digital bank recorded a 61% increase in transaction volume compared to 2022 and a 25-fold increase compared to 2018. OCB OMNI transactions accounted for 95% of the total, while online savings balances increased by 55% compared to 2022, and CASA balances also grew significantly by 44% year-on-year.
