OCB launches the program 'Digital service fee refund - Optimizing benefits' for businesses

With more than 150 APIs ready to integrate, meeting the diverse needs of partners from many different industries along with a series of incentives in the program "Digital service fee refund - Optimizing benefits"... Orient Commercial Bank (OCB) hopes to help customers optimize costs as well as strongly apply the open banking model to their business operations.

In fact, in recent years, the rise of financial technology - fintech has created a new playground, a new business model with new "partners". Instead of the past, traditional financial institutions did not share their customer files, nor did they connect with anyone to protect customer data, now banks are changing and opening up clearly. From there, open banking is becoming an increasingly popular trend in Vietnam.

The program "Digital service fee refund - Optimizing benefits" will help customers optimize costs and apply the open banking model to business operations.

Open Banking can be described as an open system consisting of 3 main entities: 1 is the bank, 2 is the third party providing the service, 3 is the customer. Open Banking will allow Financial Technology Companies (Fintech) or so-called third parties providing the service, to access customers' financial data with their consent, through Open API connection to the banking system. Open API is likened to a "bridge" that brings customers to the highest level of convenience and proactively controls the form of transaction, means and time. This has been demonstrated through a series of products and services that OCB has previously launched on the market, receiving great popularity from corporate customers such as: OCB OMNI Corp, identity accounts, BankHub, Open API... Recently, OCB continues to launch the incentive program "Digital Refund - Optimal Benefits" with the goal of optimizing costs as well as strongly applying the Open Banking model to the business operations of the enterprise. Specifically, according to actual needs, customers can choose suitable packages including: Entry package with the strength of providing automatic cash flow management solutions with a preferential fee of 0 VND throughout the usage period through the Identity Account service and BankHub service. This product package will be a "friend" accompanying businesses even in the early stages of digital transformation. For the Basic package, in addition to the above incentives, businesses can also integrate into their system APIs designed by OCB - with a resource of more than 150 APIs ready to serve a variety of industries, ensuring synchronization throughout cash flow data and automating management work for businesses. In particular, when participating in the Advanced package, the bank will fine-tune the available APIs to help businesses easily connect all separate management software synchronously on a single platform, shortening the revenue - expenditure management process, optimizing time and human resources. Thanks to that, the speed of information processing is improved, ensuring efficiency and outstanding accuracy in most operations. This package is designed to suit specific businesses with complex system structures. From only about 1 million VND per month, businesses can easily register for the full "Basic Package" or "Advanced Package", opening up seamless financial experiences and incentives throughout the year. Not stopping there, businesses can also receive a refund of up to 100% when meeting the conditions for maintaining an average balance on the payment account, helping to optimize costs while still fully enjoying superior products and services. Businesses registering to use OCB's digital solution packages will be given a beautiful account number of up to 120 million VND and enjoy many other attractive incentives on the online bank for businesses (OCB OMNI Corp). It can be said that OCB is one of the few banks in the entire system to pioneer the implementation of Open API because in the overall picture of Open Banking at OCB, Open API acts as a bridge connecting the bank and partners, allowing them to access and use the bank's data and services in a controlled, safe and secure manner.

OCB focuses on developing digital financial solutions to enhance customer experience

OCB's Open API products and services have been meeting the needs of all segments of cross-industry businesses with strong processing performance, specifically: processing an average of more than 2 million transactions/month since the beginning of 2024. Of which, August 2024 alone reached nearly 3 million transactions; the total transaction value in the first 8 months of 2024 recorded more than 18,000 billion VND. Any business that needs to manage internal finances or provide financial services to customers can connect with Open Banking. "We have great faith in Open Banking because this is a great opportunity that OCB must take the lead and create a clear difference in the market," said a representative of OCB's leadership. Source: https://vietnamfinance.vn/ocb-trien-khai-chuong-trinh-hoan-phi-dich-vu-so-toi-uu-loi-ich-danh-cho-doanh-nghiep-d117569.html