OCBC had a busy 2023, launching new FX features, application programming interface (API) integration and improvements to its online platform.
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The bank introduced its comprehensive API service to facilitate a seamless collection process for its business clients. The service has achieved 300% year-on-year growth in its host-to-host transactions. OCBC also introduced 2023 FX Online in its corporate internet banking platform OCBC Velocity. This offers real-time streaming rates that allow users to book contracts instantly for overseas transactions.
The bank launched more than 10 new structured products across various asset classes tin 2023.
Deals included a RM555 million ($118 million) sustainability sukuk deal for Point Zone and a RM5.75 billion issue for Infracap Resources.
The bank held its first three-day educational workshop featuring FX simulation games and automation efforts that include the development of a product pricing bot and term sheet generator.