Token Key Ocbc

[Orestes Hardy]

OCBCOneToken is a digital token that can be used to authenticate and authorise transactions made via the OCBC Digital app or Internet Banking, and certain online card payments. It is securely integrated into the OCBC Digital app on your mobile device.

Seamlessly log in and authorise transactions without the need for a hardware token or SMS One-Time Password (OTP). Transactions made using the OCBC Digital app are authorised in the background, while those made using OCBC Internet Banking can be authorised in a few taps.

Alternatively, use a strong password, PIN or other security mechanism to prevent unauthorised use of your mobile device. To further protect yourself, enable biometric authentication for the OCBC Digital app and customise your Access Code and PIN.

First, please ensure your mobile device is connected to the Internet. Do also check that you have allowed push notifications for the OCBC Digital app and that you have enabled push notifications via the app.

OCBC OneToken is securely integrated within the OCBC Digital app, which itself can be accessed only after your identity has been verified (i.e. via Access Code and PIN, OCBC OneTouchTM or OCBC OneLookTM). Two layers of security gives you added peace of mind.

OCBC OneToken is required to authorise transactions above the authorisation limits set by us. It provides assurance that, should your accounts ever be compromised, criminals will not be able to use it to make large sum payments.

Activate OCBC OneToken as soon as you download the OCBC Digital app. You can do so by using an OCBC credit/debit/ATM card PIN, Token Key or a hardware token.When you use OCBC OneToken, make sure you read the push notifications we send you carefully. Do not provide OCBC OneToken authorisation without knowing the purpose of the transaction or login.Protect your device with a strong password to keep it secure and enrol only your own biometrics (face or fingerprint) on it. This protects access to the device on which OCBC OneToken resides.

OCBC rolled out the digital token in 2019, a move that was expected to save it around $25 million over five years by eliminating the need to issue physical tokens and reducing one-time passwords that are sent by SMS.

UOB stopped automatically issuing physical tokens in 2018 although customers can still opt for them. The lender said that average monthly requests for physical security tokens fell about 60 per cent from 2020 to last year.

The link led to fake bank websites. Victims were then asked to key in their Internet banking account login details only to discover later that they had been scammed when they received notifications about unauthorised transactions.

A security token is a hardware device, system/software or application that generates a One Time Password (OTP) that is unique to the user. To access OCBC Velocity, a user is given either a OCBC OneToken (digital token) or hardware token.

All users need to use a security token to login to OCBC Velocity or OCBC Malaysia Business Mobile Banking app.For authorisers within the company, they will also use the token for approving transactions (payments, trade and administrative functions) within OCBC Velocity or from OCBC Malaysia Business Mobile Banking app. Can a user have multiple tokens?

No, a user is allowed to activate only ONE (1) token at any time.New users can download the OCBC Malaysia Business Mobile Banking app and activate the OCBC OneToken via the app.If your organisation has opted for hardware tokens, the nominated contact person for your company will receive an OCBC Velocity Starter Kit containing all the tokens to be distributed to the users. Each user can choose any one of the new tokens to complete a one-time registration and activation process upon first login. Thereafter, the token is unique to the user who registered and activated it. Can security tokens be shared among users?

No, each security token is pre-assigned to a unique user. As such, they can neither be shared nor registered with another user. This way, once a token has been registered to a user, the correct device must be used for login, otherwise the login attempt will be unsuccessful.The token cannot be registered to more than one OCBC Velocity user. This protects and ensures the integrity of each user's access to OCBC Velocity. What happens if I mix up the security tokens?

Each token has a unique serial number that is automatically assigned for user on OCBC OneToken or visible on the back of the hardware token.Once a user has completed the one-time registration for their token, their user name/ID will be registered to that token, making it unique to them. The token cannot be registered to another OCBC Velocity user. This protects and preserves the integrity of each user's access to OCBC Velocity.Once a token has been registered to a user, the correct token must be used for login or approval request(s), otherwise the request will be unsuccessful. Can the token be used overseas?

Yes, our tokens are designed to be used anywhere, even without internet connection. For security reasons, we recommend that you always keep your token with you and do not share your OCBC OneToken PIN with anyone. What do I do if I have a faulty token or if I lose my hardware token?

If your token has become faulty or gone missing, here are the steps you need to take:Fill up the Manage OCBC Velocity Account Form and tick "Switch to OCBC OneToken" under section "III. Replace Token". Submit the completed form to any OCBC branch nationwide. OCBC OneToken will be granted to the user within 3 working days after the bank receives the completed form.After 3 working days from your submission of the completed form in Step 1 above, download the OCBC Malaysia Business Mobile Banking app on your mobile device.Log in to the mobile app using your credentials. When prompted for an OTP, click on "Login using SMS" and enter the OTP received.At the Activate OneToken screen, click on "Activate Now". Follow the on-screen instructions to set up OCBC OneToken on your mobile device.

For existing OCBC Securities client who have just applied for the iOCBC online trading account, the default user ID will be your existing trading account number in a 7-digit format, e.g. 0123456. Only the password will be mailed to you.

For existing iOCBC clients who have applied for an additional trading account, kindly use your existing user ID and password to login (single login concept). We will not issue any new user ID and password.

For added security, we have implemented periodic password change in our system. You are required to change your password every 300 days. Your existing password will still be valid if you do not login to iOCBC for more than 300 days. Upon successful login, you will be prompt to change to a new password. The previous password can only be recycled upon 3 password changed cycles

View User Guide

Note:

a) Each token is unique and tagged to you. You will not be able to use another person's token to activate your trading account.

b) Once you have successfully activated your token, the system will end your session automatically. For subsequent logins, you will be required to enter not only your User ID and Password, but also the OTP generated from your token.

c) First time users of iOCBC are required to complete the authentication process via the Online trading platform before being able to login via the TradeMobile App:

If you have relocated to another country on a permanent or temporary basis, we are unable to complete your token switch by phone or email. Please download the "OTP Token form" and "CRS Form", complete and mail them back to us. Selection of SMS token

Login to the iOCBC online trading portal to register for your hardware token. Alternatively, download the Application for iOCBC Online Trading Access / OTP Token Form, endorse and return the form for processing.

It is generally considered safe to dispose of old tokens that are no longer functional or have been replaced by virtual tokens, such as a phone app. There are typically no security risks associated with disposing of these tokens.

In a landmark move towards digitization and expanding access to diverse investment products, OCBC Bank the longest established Singapore bank, formed in 1932, has formed a strategic alliance with ADDX, the renowned global private market exchange. The partnership marks a significant milestone in the financial sector as it saw the launch of the first-ever tokenized equity-linked structured note in early May, issued by a Singapore bank and featured on the ADDX platform.

An equity-linked structured note, such as a fixed coupon note, offers regular payments at specific intervals, provided no exceptional or triggering event occurs as per the note's stipulations. These notes offer investors a strategy to generate additional income and gain potential exposure to the underlying securities, making them an attractive investment option.

In this digital age, OCBC Bank's collaboration with innovative digital platforms like ADDX allows the bank to enhance its customer experience and tap into a larger investor base. This also makes it possible for accredited investors to gain access to the product through its tokenized form, fostering greater inclusivity in financial participation.

With its headquarters based in Singapore, ADDX aims to democratize private markets, fostering fairer investment practices. They leverage blockchain and smart contract technology to streamline the issuance, custody, and distribution of private market products, leading to fractionalized investments that are both scalable and commercially viable.

Thus far, ADDX has listed more than 70 deals on its platform, collaborating with established brands like Hamilton Lane, Partners Group, Investcorp, Singtel, and CGS-CIMB, and entities under Temasek, such as Mapletree, Azalea, SeaTown, and Fullerton Fund Management. Its offering spans across a range of asset classes including private equity, hedge funds, venture capital, private credit, real estate, debt, and structured products.

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