OCBC MyOwn Account Qorus-Infosys Finacle Banking Innovation Awards 2025

OCBC MyOwn Account is a first-of-its-kind savings account catered to children ages 7 to 15 years old, fostering financial literacy and freedom at an early age on the OCBC app.

This product was introduced as part of OCBC’s cradle-to-grave strategy, to meticulously craft a lifelong and sustainable journey for customers to manage and grow their savings independently.

Before the OCBC MyOwn Account, children under the age of 16 is unable to hold their own accounts, without it being a joint account with their parents. Joint accounts opened by parents are also mainly used by parents to save for their children’s future and less so as a transactional account for their children.

Parents are also increasingly looking for more opportunities to educate their children to be independent with money, to guide them towards making more informed decisions and at the same time stay informed of their activities.

All these coupled with the rise of digital transactions and cashless payments were the inspiration to provide a product that eases Gen Alpha (those born after 2009) into the digital payment world and equip them with the necessary tools to help them navigate in it.

To date, OCBC MyOwn Accounts are opened with more than 85% instant approval rate via the OCBC app, one of the highest amongst banking products for children. Following the success of OCBC Mighty Savers and leadership in OCBC Child Development Accounts, OCBC MyOwn Account further strengthens the bank’s track record at providing the best-in-class products and experience for children.