Mobile devices more popular than computers among Singaporeans

But lenders are not using mobile banking "as effectively as a sales tool, particularly for high-margin products"


RETAIL banking through mobile devices has swiftly overtaken Internet banking as the main form of digital interaction for consumers in Singapore, a recent Bain & Company study suggested.

But whether banks are making money through this channel is less clear. Lenders here are not locking in mobile-banking users who are shopping for specific products.

Numbers from the consultancy also emphasise the competitive nature of Singapore's retail banking space - given that retail consumers here are significantly...

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