With the business account, which is part of its digital banking thrust, SMEs can apply for entirely remotely without the need to step into a branch. It is open only to SMEs with two or fewer directors or shareholders, which represents the bulk of OCBC Bank’s typical existing SME customers.
OCBC Bank said it is rolling out the online account at a national scale, replete with the eKYC function, after having conducted pilot tests in the Klang Valley in February 2021 and then nationwide in April 2021.
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