SINGAPORE -- Nov. 24, 2004 -- Microsoft Singapore today
formally showcased the first Internet banking application in Singapore to be
developed and implemented using the Microsoft.NET web services platform. OCBC,
one of Singapore's leading financial institutions, has used .NET to overhaul
its Internet banking services, a move that has already resulted in additional
users, increased transactions and overwhelmingly positive customer feedback.
The site already handles millions of transactions per month.
OCBC, and its Microsoft Certified Partner EBWorx, used the reliability,
security, scalability and manageability of the .NET platform to help
distinguish its Internet banking offering from competitors and serve target
customers with one-to-one personalized services. At the same time, the solution
delivered on the security, flexibility, interoperability and business value
requirements of the bank.
According to Patrick Chew, Head of Delivery, OCBC Consumer Financial Services,
personalisation of OCBC's Internet banking services was a strategic objective:
"The more relevant we are to our customers the more they will appreciate it,
the more likely they will stay with us."
"The fact we were able to migrate to a new service-oriented architecture
platform and add new services at the same time was truly amazing," continued
Mr. Chew. "The .NET platform enabled us to release the new features much more
easily and in less time than with our previous platform."
The .NET web services platform enabled OCBC to offer the first virtual keyboard
on a Singapore banking website. The feature allows customers to enter in their
username and password using a mouse to minimise risk of malicious programs such
as Trojan Horses capturing the keying of confidential information, thereby
enhancing security for OCBC Internet banking customers.
"The enhanced security enabled by Microsoft.NET is one of the key reasons we're
seeing the .NET platform gain ground among enterprise customers in Singapore,"
said Daniel Ingitaraj, Director for Developer and Platform Evangelism at
Microsoft Singapore. "Microsoft .NET is truly enterprise-ready for any
organization that needs IT scalability, reliability and a compelling total cost
of ownership, backed by Microsoft's global, long term commitment to drive the
platform."
OCBC conducted a three-month evaluation period with EBWorx and consulted
independent IT analysts before selecting Microsoft.NET for the new Internet
banking service. Beginning in July 2004 with the transactional side of the new
online banking site, phase one of the implementation was launched after only
three months.
The integration of OCBC's different customer-facing channels has been the key
to its success. The bank was one of the first in the region to integrate its
CRM system with its ATM network, and is now using the Microsoft.NET platform to
further that integration with its Internet banking platform.
"Our goal is to make Internet banking a primary channel for our customers,
something that everyone wants and cannot do without," said Mr. Chew. "We are
driven by what our customers expect from us and know that with more dynamic and
efficient channels for interaction, our relationship with our customers will be
strengthened."
The bank expects to roll out its digital banking solutions to other media in
the coming year, and the ability of Microsoft.NET to scale to - and be
implemented on - a wide variety of client access devices will be central to
that expansion, according to Mr. Chew.
About OCBC Bank
OCBC Bank is a Singapore-based financial services group with assets of S$119
billion and operations in 14 countries and territories including Singapore,
Malaysia, Indonesia, China, Hong Kong SAR, Japan, Australia, UK and USA, and
has more than 110 branches and representative offices around the world. It
offers a range of specialist financial services including consumer, corporate,
investment, private and transaction banking, global treasury, asset management
and stockbroking services to its customers. OCBC Bank's subsidiary, Great
Eastern Holdings, is the largest insurance group in both Singapore and Malaysia
in terms of assets and market share. Additional information may be found at
www.ocbc.com.
About Microsoft
Founded in 1975, Microsoft (Nasdaq "MSFT") is the worldwide leader in software,
services and Internet technologies for personal and business computing. The
company offers a wide range of products and services designed to empower people
through great software - any time, any place and on any device.
For more information, please contact:
Anushia Nair
Upstream Asia
Tel: (65) 6323 7377
Mobile: (65) 9744 1490
Email: anushia.nair@upstreamasia.com
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