Digital banking is the new trend
The nation is moving towards digital banking, either out of convenience or necessity.
According to our survey,
82.7%
use digital banking service
at least a few times a week
64.8%
visit a bank branch a few times a year
The demand for digital banking services has only grown stronger since COVID-19...
7 in 10
bank online frequently
since COVID-19
8 in 10
are likely to continue banking
online after COVID-19
The Straits Times, 2020
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100 million
more digital banking transactions
x2
digital payment usage
100,000
made their first transaction in Q1 2020
Channel News Asia, 2020
Financial Innovation in SG:
The First Universal QR Code
The SGQR code was launched in September 2018 as part of the government's efforts to build a national cashless system and to digitalise the nation.
The SGQR code makes things easier for Singaporeans and enable vendors to use a single QR code for payment for up to 27 e-payment apps.
The whole nation is going digital, not only banking!
This can be seen by the government's efforts to digitalise the nations, starting with hawkers who are known to be more traditional.
Why are we telling you this?
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Omni-Channel Success Story
Super App
Grab is a one-stop app that satisfies a range of daily services - transport, food, bills. It provides enough benefits and functionality to keep Its users from ever closing the app.
Customer Loyalty
Grab builds customer loyalty by offering GrabRewards Points for spending on the app. The points can be redeemed for cash vouchers at restaurants, retail stores, etc.
Cycle of Online and Offline Experience
Users use GrabPay to pay for all their services within the app.
They also use GrabPay for offline purchases (e.g. dining out) to earn the GrabReward Points
Why are we telling you this?
We want to show that Fintech is becoming more evident in our daily lives.
Grab has created an ecosystem that gets people excited to use GrabPay.
So, how can we get SP students excited about Hangout@UOB and UOB's products?
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ImaginCafé
A Space for Millennials
ImaginCafé is a branch that has been redesigned such that it has the ability to facilitate activities that the younger generation enjoy.
Features of this Space
Convenience
The branch itself is at a central point in Barcelona making it very accessible. Visitors are also able to check the events and book rooms on the website and app to ensure that they will not be making a wasted trip.
ImaginCafé has amenities like a cafe, gaming room, exhibition room, event area and more to fully engage their audience.
In 2017, ImaginCafé was launched by CaixaBank in Spain.
At ImaginCafé,
Visitors are given the choice between computer and video games
At Hangout@UOB,
Only AI games are offered and it does not suit the students' taste.
At ImaginCafé,
There is a large amount of space with ample tables and chairs for people to work and study together.
At Hangout@UOB,
There are only 2 tables in the branch due to the limited space. This turns people away when they are looking for places to study.
At ImaginCafé,
It is clearly stated on the website that there is an event space in the premises.
At Hangout@UOB,
Only 34.6% of our survey respondents indicated that they knew there was an event space.
