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"
Add BT as a preferred source
Singapore
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.
TRENDING NOW
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
Singapore at 61: How we can ensure opportunity, security and ownership for the next generation
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
