OCBC Bank is making its foray into the e-commerce scene with the launch of an online marketplace that offers products and services tailored for mothers.
From baby prams and diapers to antenatal screenings and lactation televideo services, mumstruly.com currently has offerings from Robinsons, FairPrice, Singapore Medical Group and local healthcare start-up Doctor Anywhere.
Products from StarHub and Great Eastern will be included on the online platform by the fourth quarter of the year.
The bank is in talks with some 20 other retail and service providers.
Built with an investment of $300,000, this new venture is specifically targeted at mothers as the bank can tap its "deep understanding of young families" to best address their needs, said OCBC's head of consumer financial services Dennis Tan at the launch yesterday.
Since 2008, OCBC has been designated a Baby Bonus Bank, which is part of a government-initiated marriage and parenthood scheme to better defray the child-raising costs of Singaporeans.
It now serves over 80 per cent of this segment here. The services the bank provides have helped it obtain useful data about mothers, said Mr Tan.
He noted that combining such data with transactional information from FairPrice and Robinsons has enabled OCBC's data analytics team to "handpick the most relevant products and brands" for expectant and new mothers.
FairPrice Online chief omnichannel officer and general manager Elvin Too added: "We are very excited to be onboard; buying groceries online can provide the convenience that busy mothers need."
The supermarket chain sells milk powder, diapers and other products such as baby wipes on the online marketplace.
While Mr Tan acknowledged that the e-commerce landscape is a crowded one, he is confident that OCBC's one-stop-shop concept will make it a firm player.
He said: "There are competitors, but we don't see someone putting both (products and services) on a single platform like ours."
Besides buying baby and motherhood products, customers can make appointments with paediatricians, obstetricians and gynaecologists on the site.
Moving forward, OCBC is open to building more of such marketplaces to remain competitive in the digital age, said Mr Tan.
"Things have changed over time with digitalisation and this is an opportunity for us to bring more value to our customers."