OCBC Bank launches online marketplace for mothers

With six strategic partners, OCBC Bank has launched mumstruly.com on 18 July. The OCBC-owned and-created marketplace will be an online site for mums-to-be and mums with children aged up to five. The site will include specialist paediatric or gynaecological services, a lactation televideo service, baby and motherhood products, and wealth and protection solutions like deposit accounts, credit cards and insurance.

In a statement, OCBC Bank stated that mumstruly.com, its first eCommerce venture, targets mothers “because of its deep understanding of young families and their needs,” from data collected through their banking products.

Dennis Tan, head of consumer financial services, Singapore, OCBC Bank said, “Many say the tech giants are eating our lunch. With mumstruly.com, we intend to wrestle back our share of the pie."

Tan added that "OCBC is in the best position to make this work because it understand sfamilies", having served this segment as the number one Baby Bonus bank for more than 10 years.

"Not only that, our award-winning customer experience design and data analytics team played an integral part in formulating solutions for young moms throughout the entire customer journey. We have therefore created an online e-commerce platform that is most relevant and meaningful to mothers," he said.

The launch of mumstruly.com, as part of the ‘We Economy’ expansion, follows OCBC Bank and StarHub’s partnership to develop Singapore’s first loyalty alliance to allow Singaporean consumers loyalty rewards.