Singapore's UOB launches utility marketplace

Singapore's UOB launches utility marketplace

United Overseas Bank (UOB) in Singapore has launched an online utility marketplace, helping users find and sign up to the best deals for electricity, gas, water, broadband and TV services.

UOB is spreading its wings into the comparison market thanks to recent Monetary Authority of Singapore rules which allow banks to operate digital platforms that match buyers and sellers of consumer goods and services.

The site lets people choose from among 10 utility providers and claims to be able to help them save a third on their monthly bills.

Jacquelyn Tan, head, personal financial services, UOB, says: "With utilities bills making up an average of about 10% of monthly household expenses, we want to help people stretch their household budget.

"This is why we have brought together Singapore’s largest network of utility providers for consumers to find a utility plan that can help them to save up to 35% on their monthly utilities bills."
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