Southeast Asia’s largest bank by assets, DBS, has partnered with
Singapore Post (SingPost) to offer basic banking services at all
SingPost’s outlets from 3 January 2012.
This is a first-of-its-kind tie-up in
Singapore between a postal service provider and a bank.
Go deeper with GlobalData
DBS Group operates two brands in Singapore –
DBS and POSB – and together has approximately 80 branches across
Singapore.
This partnership between DBS and SingPost is
expected to almost double that branch network, as DBS and POSB
customers will be able to conduct banking transactions at 140
outlets.
Banking services that will reportedly be
available to DBS and POSB customers at post offices include cash
withdrawals and cash deposits.
Customers will also be able to submit POSB
Everyday Savings Account application forms through SingPost’s
outlets.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataJeremy Soo, managing director and head of
consumer banking group Singapore at DBS said:
“Today, DBS already has the largest number of
banking touchpoints in Singapore. This collaboration with SingPost
translates into even greater banking convenience for our four
million customers when they visit the post office.”
SingPost’s executive vice president for retail
and financial services, Loh Choo Beng, said, “SingPost has been
transforming to stay relevant and close to our customers. We have
been bringing key services to our customers including e-Government
services.
“This collaboration with DBS is another effort
to provide a higher level of convenience to our customers. By
making basic banking services available at our counter, we give our
customers a choice to have their banking needs met as they come to
us to buy stamps, pay bills, remit money or complete other
transactions.”
In January, DBS collaborated with SingPost to
offer new notes exchanges during Chinese New Year at selected post
offices.
In 2010, DBS introduced mobile banking and
expanded its self-service banking network to over 1,300 ATMs and
cash acceptance machines.
