The difference of Omni-Channel Banking
The global banking sector is constantly evolving due to a raft of regulations, technology developments and market reforms. The International Finance Banking Awards highlight the accomplishments of banks leading in innovation, infrastructure development and customer centricity.
In 2018, International Finance announced that 21 banks from 20 countries all over the world among that OCB received the award “Most Innovative Digital Bank 2018” with its Omni-Channel Platform. This award recognizes OCB’s breakthrough development of the first OMNI-channel banking (OCB OMNI) in Vietnam. OCB Omni offers its users multiple benefits. OCB is the only Vietnamese bank to receive this prestigious award, conferred by International Finance, in 2018.
Historically, traditional transaction banking & digital transaction banking (online and mobile) have functioned as independent processes. This has required customers to use the relevant channel when they want to use a specific service. OCB OMNI is now the first Omni-channel service in Vietnam able to transfer information between relevant channels such as mobile banking, Internet Banking, ATM systems & bank tellers, thus allowing users to experience seamless, uninterrupted transactions.
There are many reasons why a customer might be unable to complete a transaction online. For example, they may initiate a transaction on their phone and then continue the transaction on a computer or they may possibly want to complete the transaction directly at the counter. With OCB – OMNI unfinished transactions are always save-ready, to pick up any channel and get completed without complications.
In addition, Omni-channel banking only requires one OTP authentication or save beneficiary information. This allows users to perform multiple transactions simultaneously. A user can select a time to transfer money; the system will then automatically transfer the money at the time specified by the user.
Not only convenient, OCB OMNI has also received positive reviews from many other companies because of its ultimate European security features.
OCB OMNI – Zero fee services
OCB wins While many domestic banks are increasing their fees, OCB OMNI is providing maximum support to its customers with zero fee online transaction channels. Specifically, OCB OMNI implements a ‘three-zero policy’ – zero new account opening fee, zero annual fee, zero transfer fee (including inter-bank and 24/7 transfers).
With interest rates of online savings up to 8%, OCB OMNI encourages users to switch from traditional banking to digital banking in line with international trends.
The breakthrough of the first Omni-channel banking show the advantage of OCB’s business performance for the first six months of 2018. OCB witnessed substantial increase across its performance indicators such as capital mobilization, credit growth, credit quality and business services. Mr. Nguyen Dinh Tung, General Director of Orient Commercial Joint Stock Bank (OCB), has announced that profit before tax was VND 1,302billion, 163.5% higher than the same period in the previous year. Total asset value amounted to VND 90,965billion representing a 25% increase compared with the previous year. OCB control the credit quality and bad debt reduce to less than 2%. With this result, OCB expected to exceed its VND 2,000billion target for 2018 in the second half of the year.
With the impressive breakthrough of offering the first Omni-channel banking system in Vietnam as well as being the first bank to adopt Basel II, OCB has increased profit and scale quarter on quarter. OCB is the most outstanding example among banks with substantial increase in terms of capacity and brand popularity in the market.