OCBC launches online marketplace for mothers and mums-to-be

OCBC launches online marketplace for mothers and mums-to-be

SINGAPORE: OCBC Bank has launched an online marketplace targetted at mothers of young children and mums-to-be, its first e-commerce venture.

The marketplace, mumstruly.com, offers a carefully-curated range of goods and services, ranging from health services to baby and motherhood products as well as wealth and insurance products.

Given the range of help mothers seek, their needs mark a unique opportunity for digitalisation to make a difference, Mr Dennis Tan, Head of OCBC’s Consumer Financial Services, said on Wednesday (Jul 18).

“What if mothers have one place to go to to get all that help?”

The Singapore Medical Group and Doctor Anywhere, a Singapore-based telehealth start-up, are among the six partners which have come on board the initiative.

The others are Robinsons, NTUC FairPrice, StarHub and Great Eastern.

The bank said the venture harnesses its estimated 80 per cent market share in Child Development Accounts (CDAs), and its experience in banking products for young families, which have helped it obtain useful data about mothers.

Together with data from NTUC FairPrice supermarkets and Robinsons department store purchases, the bank said its data analytics team were able to handpick the most relevant products and brands for expectant and new mothers based on their expenditure, especially post-pregnancy.

“We understand mothers,” Mr Bojan Blecic, head of experience design at OCBC, said.

Speaking at the site’s launch event, Ms Donna Chua, group marketing director of Robinsons Group, said: “This is the future of Robinson’s – young people, young families.”

For start-up Doctor Anywhere, the venture aligns with their objectives to aid clients in making informed decisions about their healthcare.

The startup offers a lactation televideo service on the site, where clients can engage a lactation specialist for advice via a video call in the privacy of their homes.

Mr Tan said mumstruly.com is but the first of OCBC’s ventures into e-commerce. The bank will seek to create more online marketplaces in the future, he added.

Source: CNA/ms