The landscape could be rewarding to banks as shown by OCBC that boosted home loans by $200m.
Singapore’s big banks are dipping their toes on proptech by launching fully digital home loan solutions that aim to make home-buying accessible in just a few clicks. In August, UOB announced that it teamed up with four property agencies—ERA Realty, Huttons Asia, OrangeTee & Tie, and PropNex Realty—as well as online proptech firm SoReal Prop to launch a fully-digital home loan solution. Services under UOB’s solution include Singapore’s first bank-backed property valuation tool, a banker and buyer matching service called GetBanker, and an online instant home loan approval service.
“As UOB finances more than 30% of all new property sales in Singapore, we understood first-hand from our property partners and home buyers that they wanted certainty and simplicity in property transactions,” said Jacquelyn Tan, UOB’s head of financial personal services in Singapore.
UOB is not the only bank to wet its toes in the growing puddle of proptech, as DBS and OCBC got in the game earlier than UOB.
Banking on your property needs
In January, OCBC Bank launched its home buying-slash-ownership platform called One Advisor. It currently has “affordability” advice, which calculates price as well as down-payment and stamp duty amongst other services such as property listings, and explanations for regulatory rules for homes.
Notably, OCBC had secured $200m of home loans through One Advisor alongside its chat bot for home and renovation loans called Emma (launched January last year), OCBC Bank’s head of consumer secured lending Phang Lah Hwa revealed. “OCBC’s One Advisor saw traffic of more than 110,000 from 53,000 unique visitors. These visits resulted in over 1,200 leads alone from One Advisor,” she added.
ãã®èšäºã¯ Singapore Business Review ã® October - December 2018 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã9,000 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã ?  ãµã€ã³ã€ã³
ãã®èšäºã¯ Singapore Business Review ã® October - December 2018 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã9,000 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã? ãµã€ã³ã€ã³
Smile API Eases Loan Process
Financial institutions and lenders rely on credit worthiness to grant loans, but assessing it can be challenging with only employment and payroll information. Smile API addresses this challenge by transforming employment data into credit data.
Industry Concerns Rise As Accountant Numbers Decline
Accounting firms and universities strive to boost the sector's appeal with new roles and education programmes.
New Rule Curbs Biases Against Flexi Work
Employers who oppose remote work solely because it deviates from traditional office norms can no longer deny this option to employees and may face consequences for doing so.
Trials Target Better Management Of Treatment-Resistant Depression
Managing treatment-resistant depression (TRD) can take months to years, but Singapore is accelerating the process by embarking on trials of personalised transcranial magnetic stimulation (TMS) specifically tailored for Asian brains.
Singapore's tech powerhouses triumph at SBR Technology Excellence Awards 2024
In today's digital age, technological innovation is not just a competitive advantage; it is a key driver of progress. Companies that embrace digital disruption and leverage the power of technology are unlocking a world of opportunity, transforming industries, and shaping a more connected future.
InterContinental unveils rain refund package for guests
Guests receive a refund for a 1-night room rate if it rains for more than 2 hours during their stay.
New law weaves in work protections and retirement benefits into gig workers' safety net
Platform workers will be able to make CPF contributions into their ordinary and special accounts.
Surbana Jurong's new HQ integrates green spaces and smart technology
The headquarters features biophilic elements that enhance natural light and air circulation.
ION Orchard dives into gamification amidst experiential retail demand
The mall's in-app augmented reality game offers more than 30 rewards.
Why Singaporeans are okay with locking away over $4b of their money
Customers can only access lockedâ money with a physical card or by visiting a branch.