OCBC has introduced Velocity Smart Assist, an artificial intelligence-powered assistant integrated into its Velocity business banking platform to simplify account management for corporate customers.
The new AI assistant allows business banking clients to submit and complete account maintenance requests digitally within minutes, the bank said.
During its initial rollout, Velocity Smart Assist will support several functions, including adding or removing account users and approvers, assigning and modifying user roles, identifying the appropriate approving parties, and digitally forwarding requests for review and approval.
OCBC noted that account maintenance is among the most frequent requests from businesses, with approximately 20,000 such requests submitted annually.
From 2027, the platform is expected to introduce additional capabilities, including updating transaction authorisation limits and modifying registered business names and mailing addresses.
The bank also plans to gradually extend Velocity Smart Assist to business banking customers across its key markets.
According to OCBC, nearly 200,000 business banking customers in Singapore currently use its Velocity platform.
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