The latest technology news in the wealth management sector from around the world.

OCBC
OCBC, the parent of Bank of Singapore, said that clients can log into its digital banking services suite by using the SingPass mobile app, removing the need to remember lots of passwords and codes. The need to make access easier has also been prompted by the coronavirus pandemic.

Using the app as an alternative login will help clients who use an access code and PIN instead of fingerprint or facial biometrics to log into OCBC Bank’s digital banking platforms. 

The service has been made possible for OCBC customers by integrating digital banking access with Singapore’s National Digital Identity (NDI) platform, OCBC said. 

Close to 100,000 “digital debutantes” have started using digital banking for the first time this year. There has been a 40 per cent jump in digital transactions performed by those aged 50 to 64, while those aged over 64 clocked a 48 per cent rise in digital banking transactions from last year, OCBC said, outlining the faster use of digital banking.

More than 1.6 million Singapore residents use the SingPass Mobile app to access government e-services including checking their Central Provident Fund (CPF) account balances, filing taxes and applying for public housing. Many now also use the app for SafeEntry logins at venues to facilitate contact tracing.