OCBC Bank introduced biometric authentication feature in their mobile application

iPhone users can now use their OCBC bank accounts with biometric authentication

Malaysia: OCBC Bank launches its first business mobile banking application for its Malaysians iPhone users featured with biometric authentication, this is first such application in the nation. Now users can access their bank account, at an ease and can view transactions with a single touch of finger. OCBC Bank also targets to launch such application for android users as well in future.

OCBC Bank’s head of global transaction banking, Chong Lee Ying states that “the bank’s commitment to digital innovation and the quest to make its products and services simple, fast and convenient for business banking customers. This new OCBC app will empower business owners to make decisions on the go by having information, quite literally, at their fingertips.”’

With this additional feature, iPhone users don’t need to login with their user ID’s and passwords and can get benefits from it anywhere and anytime.

TechSci Research depicts that the adoption of biometric will pave a long way in hassle-free transaction and is targeting to make its product and services simple and convenient for the users. Biometric adoption will produce high tangible results with improved data protection & validation of records.

According to TechSci Report on “Global Biometrics Market By Type, By End Use Sector, By Region, Competition Forecast and Opportunities, 2011 – 2021”, the global biometrics market is projected to cross US $ 24.8 billion by 2021. Fingerprint recognition biometric systems are the most preferred type of biometric systems used across the globe, owing to their ease of use, low cost, high speed and accurate results. However, in terms of growth, vein scanner biometrics systems segment is anticipated to outpace fingerprint recognition biometrics systems over the next five years. In 2015, North America dominated the global biometrics market, and the region is anticipated to maintain its dominance over the next five years as well.