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Banks in fast and furious chase to offer car loans online

Eyeing bigger market share, UOB will increase number of car dealerships it partners; OCBC launches its digital solution

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Published Tue, Mar 3, 2020 · 09:50 PM

Singapore

UOB is revving up its engine to secure more car loans, with its strategy being to work with a large swathe of car dealers in Singapore to process applications online, such that deals are closed in 15 minutes.

But the bank, which says it commands the largest reach into the car dealership ecosystem, will now face fresh competition from OCBC.

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