Do Singapore banks measure up in the eyes of start-up entrepreneurs?
In Singapore, it looks like OCBC is the most popular bank among start-up entrepreneurs for creating a business account. That is the result of a poll SGE did on Facebook and LinkedIn in which 127 entrepreneurs responded.
Here’s what we asked them: “As a start-up founder in Singapore, which bank do you go to and set up your local account?”
Actually, OCBC is the leading bank by a mile at 45 percent of the respondents. The others, DBS (17 percent), UOB (15 percent), and Standard Chartered (13 percent), were not even close.
With such a yawning gap, it’s easy to assume that OCBC is the best choice for every entrepreneur — but that’s not necessary the case. To find out more, we dug a little deeper, speaking to entrepreneurs and comparing the different banks ourselves. Read more
A new app by United Overseas Bank (UOB) called UOB Mobile aims to save customers a worry or two — by allowing them to withdraw or transfer cash from the ATM without their bankcard.
UOB is believed to be the first Singapore bank to do this. The app comes at a time where two out of three UOB customers are registered Internet banking users, an indication that Singaporeans are warming up to online banking.
The app also has a feature called Mobile Cash, which enables customers transfer money to a list of registered recipients, including non-UOB customers. Done via an instant text messaging and a one-time password, recipients can withdraw cash instantly at more than 600 UOB ATMs across Singapore. Read more
Finding and evaluating entrepreneurial ideas are critical founding blocks of the entrepreneurial journey. An internationally renowned entrepreneurship researcher and educator, Prof. Scott Shane uses original research, interactions with entrepreneurs, and consulting experience to show how individuals and organizations can systematically search and evaluate economic potential of ideas. He will run a workshop on Opportunity Recognition and Technology Evolution. The session on industry evolution draws on strategic management and entrepreneurial opportunities in changing technology environment. Read more
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