OCBC launches new online marketplace for mums
Singapore
OCBC Bank has made its foray into the e-commerce scene with the launch of a new online marketplace that offers a host of products and services tailored for mothers.
From baby prams and diapers to antenatal screenings and lactation televideo services, mumstruly.com currently has offerings from Robinsons, NTUC FairPrice, Singapore Medical Group and local healthcare startup Doctor Anywhere.
Products from StarHub and Great Eastern will be included on the online platform by the fourth quarter of 2018. The bank is currently in talks with some 20 other retail and service providers.
Built with an investment of S$300,000, this new venture is specifically targeted at mothers as OCBC can tap its "deep understanding of young families" to best address their needs, said the bank's head of consumer financial services Dennis Tan at the launch on Wednesday.
OCBC has been designated a Baby Bonus Bank since 2008. It currently serves over 80 per cent of this segment in Singapore.
"These (services we provide) have helped OCBC obtain useful data about mothers," said Mr Tan.
He noted that combining such data with transactional information from FairPrice and Robinsons had enabled OCBC's data analytics team to "handpick the most relevant products and brands" for expectant and new mothers.
FairPrice Online's chief omnichannel officer and general manager Elvin Too said: "We're very excited to be onboard, buying groceries online can provide the convenience that busy mothers need." The supermarket chain is currently selling milk powder, diapers and other products such as baby wipes on the online site.
While Mr Tan acknowledged that the e-commerce landscape is a crowded one, he is confident that OCBC's one-stop shop concept willmake them a firm player. He said: "There are competitors, but we don't see someone putting both (products and services) on a single platform like ours."
Besides purchasing baby and motherhood products, customers can also make appointments with paediatricians, obstetricians and gynaecologists on the online site.
OCBC is open to building more of such marketplaces to remain competitive in the digital age, said Mr Tan.
"Things have changed over time with digitalisation and this is an opportunity for us to bring more value to our customers."
