The COVID-19 pandemic has accelerated the digital transformation because more people are working from home, attending webinars, studying online, shopping online, and making payments online. To stay relevant in a post-COVID world, businesses must embrace the digital transformation. The ability to process massive volume of data with speed and security becomes a critical competitive advantage.
OCB Life, a Singapore-based technology company, has developed a new-generation OCB Wallet app that allows users to make instant electronic payments in a secured and decentralized platform, without third-party involvement. This has set the foundation for OCB Life to capitalize on new opportunities in a post-COVID world.
OCB Life pursues a digital-first = customer-first strategy because the company believes that its Blockchain 3.0 technology must at the same time help the company to build stronger relationships with customers, business partners and the community. The company will soon integrate the OCB Wallet with a debit card to allow users to pay a bill, or buy a meal, or cover for an emergency, or withdraw cash in local currency at ATMs. All the user has to do is to scan the QR blockchain code to transfer funds from the OCB Wallet to the debit card.
OCB Life has successfully conducted technical tests on integrating the OCB Wallet with its prototype debit card. The company is in advanced stage of discussion with a leading international credit/debit card brand and the card-issuing banks to finalize collaborations on the debit card. This new “digital-first = customer-first” feature is expected to be launched in Asian markets by Quarter 3 next year, and later on in other regions.