OCBC Cheque Encashment on New ATMs Qorus Banking Innovation Awards 2021

At OCBC, we believe that the crux of digital transformation lies in understanding our customers’ needs and using digital technologies to create seamless end-to-end customer experience for customers to perform their banking transactions. We believe that a successful branch digitisation initiative allows the bank to automate with digital technologies, redesign and maximise utilisation of the branch footprint resulting in improved staff productivity, reduced teller error rates, reduced customer wait time and improved customer fraud management procedures. As part of the digital transformation strategy, we have been looking at options to drive branch migration and empower customers to perform banking transactions at their own convenience. ATMs are one of the most frequented touch points for customers. By offering cheque encashment service on next generation New ATMs, we will not only improve the efficiency of encashment process and customer journey, but also reduce operating costs. The cheque encashment feature couldn’t have been timelier as it was introduced during the COVID-19 period when the number of customers allowed to enter the branch was limited. Customers could minimise contact by encashing their OCBC cheques at the New ATM instantly, without going through the hassle of required processes of entering the branch. The whole cheque encashment transaction via the New ATM can be completed within 3 minutes, with the assistance of our Digital Ambassadors.