OCBC Launches AI Assistant for Business Banking Platform

MT Newswires11-12

Oversea-Chinese Banking (SGX:O39) has launched Velocity Smart Assist, an artificial intelligence assistant on its Velocity business banking platform, according to a Thursday statement.

The AI assistant will enable customers to complete account maintenance requests within minutes instead of three to seven business days.

OCBC said nearly 200,000 business banking customers in Singapore use Velocity. The launch is part of OCBC's broader digitalization drive, aimed at reducing administrative work for businesses while maintaining governance and security controls.

From 2027, the assistant will be expanded to support changes to transaction authorisation limits, registered business names and mailing addresses, before being rolled out across OCBC's core markets.

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