Shift aims to improve customer security by reducing scam risks
OCBC Bank has announced that from Friday, it will stop using SMS messages to alert customers about banking activities. Instead, customers will receive notifications through push notifications and e-mails. This shift, which started in October, applies to various banking activities, including payments, fund transfers, card transactions, cash withdrawals at local ATMs, and bill payments.
The change is part of the bank’s efforts to enhance security and protect customers from impersonation and phishing scams. Customers can still opt to receive SMS alerts, but the bank encourages them to switch to the more secure options of push notifications and e-mails.
OCBC follows other banks like DBS and UOB, which have also moved away from SMS alerts. DBS has already made push notifications and e-mails its default channels, while UOB switched to e-mail and push notifications for PayNow transactions starting in March.
The new method is designed to bolster the security of customers’ banking transactions by reducing the likelihood of scam activities involving SMS.
