OCB Launches Its Innovative Digital Bank, Liobank

On March 2, Orient Commercial Joint Stock Bank (OCB) announced the launch of a new generation digital bank for young technology enthusiasts called Liobank. This new platform comes with a number of new features and incentives.

The new digital bank from OCB meets the following criteria: a user-friendly interface and streamlined procedures to assist consumers in opening multi-function accounts and learning the results of card credit limit consideration in real-time. More importantly, online transactions can be completed with little paperwork requirements. Liobank also does not charge any of its customers for a variety of services, such as account opening, card issuance, yearly, or money transfer fees.

Furthermore, Liobank incorporates many features, such as issuing 2-in-1 cards, which serve as both credit and debit (ATM) cards; receiving a non-physical card after successful registration; selecting the location and time frame for receiving the physical card on the application; receiving the physical card the following business day; and having a credit limit of up to VND 300 million. Besides, for all transactions made in the month, consumers are eligible for a 10% refund, up to a maximum of VND 500,000.

A representative from OCB stated that Liobank was created for youthful customers who are interested in using cutting-edge technologies. Some of the features of Liobank are that you can transfer money simply by shaking your phone, that you can send money back to people who have transferred money to you without knowing their account number, that you can transfer money to Liobank users in the phone book, that you can name folders to organize your utility bills, and so on.

Mr. Nguyen Dinh Tung, General Director of OCB,gave a speech on the orientation and vision of Liobank development. Photo: OCB

“Liobank is being developed with the help of European specialists that have a track record of success in establishing digital financial services in a wide variety of nations. We anticipate that Liobank will become a ‘super convenient new generation digital bank,’ one that is ahead of the curve technologically, highly individualized, and able to satisfy the needs of all its young consumers,” stated an OCB representative at the launching ceremony.

Customers register and experience Liobank at the event. Photo: OCB

Launching Liobank exemplifies OCB’s dedication to advancing its Retail Banking division, an area of focus for the company. By concentrating on establishing strategies to increase business operations and investing in digital transformation, in 2022, OCB was given a double international award by Global Brands Magazine, including Best Digital Banking Brand and Excellence in Retail Banking 2022.