OCBC Bank
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Together with its banking subsidiaries, OCBC Bank delivers a range of financial services ranging from consumer and corporate banking services, to global treasure and stock-broking services.
Like most financial services companies, the bank is probably a hot target of malicious hackers eager to find a security loophole and penetrate its network in search of a quick buck.
No surprise then that OCBC Bank takes IT security seriously, and is fully aware of the need to respond quickly to any potential risk to its network.
Earlier this year, OCBC Bank indicated that it was finalizing plans to engage suppliers of two-factor authentication tools to be deployed for its consumers.
Some of its corporate customers already use a physical token called Digipass. Available since 2001, Digipass generates a response to time-sensitive challenge code issued by the bank, in order to validate fund transfers and payments.
Ching Wei Hong, OCBC Bank's head of group operations and technology, said: "To continue to be successful as a bank, we need to be able to differentiate ourselves through a combination of product, service and process innovation. The technology itself thus becomes a means to an end.
"The challenge for us in IT is then to make sure that we have the right infrastructure, integration tools and applications in place that can support this differentiation," he noted. "Simply put, without the right technology, you cannot provide the product or service innovation. We need to do this correctly, that is, target our investments wisely to maximize our returns."
OCBC Bank's strategy, Ching said, is to ensure its IT direction continues to be aligned with its business needs and to use technology to add value to the bank's business partners.
In the coming months, some of the bank's initiatives will be focused on deploying its enterprise data warehouse and embarking on the initial stages of its SOA (service-oriented architecture).
OCBC Bank also recognizes the importance of hiring good people which it considers a key asset, and ensures deserving staff are well-rewarded.
Ching said: "We continue to invest in our people by enhancing their skills and competencies, to meet the challenges we pose them, through formal certified training programs."
"Being recognized as one of Asia's best users of IT is an independent reaffirmation of our efforts toward achieving business excellence, and sustaining our competitive advantage through the use of technology," he said.
"We are pleased that OCBC is among the top 50 companies that made it to ZDNet Asia's Smart50 list, and will continue our focus on delivering excellent product offerings and service to our customers, locally and regionally."