THE Business Times (BT) and Singapore-based lifestyle and personal finance site GET.com have jointly launched GETxBT Compare, a personal finance comparison tool that lets users compare and apply for home loans, credit cards and personal loans online.
Powered by GET.com's proprietary comparison technology, GETxBT Compare is designed to be "intuitive" and "easy to use" for Singapore consumers, said both partners on Monday.
Users will be able to see - at a glance - the latest and most attractive fixed and floating home loan interest rates in the market, as well as the lowest personal loan interest rates and popular credit card offers from GET.com's product partners - composed of all the major banks and financial institutions in Singapore such as UOB, DBS and American Express.
The creation of GETxBT Compare is in line with Singapore consumers' increasing sophistication and openness towards digital banking, said both partners, citing a March 2015 McKinsey report which shows Singapore leading the digital banking penetration levels in South-east Asia with 94 per cent of banking consumers conducting Internet banking via personal computers or smartphones.
According to the same report, three out of four Singapore consumers preferred to use digital channels to compare rates on banking products to branches or call centres.
The official launch of GETxBT Compare on Monday coincides with GET.com's first anniversary in Singapore; it is also the first of several initiatives lined up by BT this year as the Singapore Press Holdings financial daily celebrates its 40th anniversary.