No hard feelings; consumers may soon switch banks with ease

Singapore

SINGAPORE banks may soon have to make it easy for customers to compare products and services for better financial planning, and then, for consumers to quickly switch between competing offers.

The Business Times understands that the banks here have been locked in working groups since last year, to discuss how to allow customers to view their account balances and banking relationships across the different banks in a consolidated way. This may come in the form of a one-stop portal.

Regulators are now thinking about how consumers can easily swit…