KUALA LUMPUR: OCBC Bank (Malaysia) Berhad has been named Malaysia's "Bank of the Year 2023" by London-based The Banker.
OCBC Bank, among the foremost foreign banks in Malaysia and in existence for over 90 years, is part of the Singapore-based OCBC Group, the region's second-largest banking group by assets.
The Banker singled out OCBC Bank's wide-ranging approach to improving its banking operations, taking measures to increase its green credentials, support retail customers, and develop new opportunities for its staff.
OCBC Bank signed a memorandum of cooperation with Malaysian Green Technology and Climate Change in February 2023 to promote low-carbon operation systems, which was incorporated into the bank's transition finance plans for its corporate and small and medium-sized enterprise customers.
Through the platform, customers will be guided on how to decarbonise while improving efficiency and reducing waste, which should result in overall cost savings.
"The launch of OCBC Bank's consumer banking app at the end of 2022 saw a shift in its digital offerings. Built on a digital core of cloud-native and application programming interfaces, this has allowed the bank to achieve greater levels of scale, flexibility, and agility. It features built-in straight-through processing of account opening and know-your-customer checks," according to a statement issued by OCBC Bank today.
The "Bank of the Year" Awards is a global banking awards programme that recognises outstanding financial institutions following a review of their balance sheet data, strategic initiatives, technology, and new products and services.
The scope of the awards covers more than 120 countries worldwide, with judging conducted by a panel of editors, including regional and sector specialists.