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DBS launches mortgage smartphone app

by November 14, 2016 General

The China Post news staff
November 15, 2016, 12:06 am TWN

TAIPEI, Taiwan — The Development Bank of Singapore (DBS) launched a one-stop-shop mortgage app Monday, becoming the first bank in Taiwan to offer the service.

The bank said the new app would help home buyers step-by-step through the process of finding real estate information, comparing prices, calculating mortgage payments, and contacting DBS representatives to obtain loans.

General Manager Jerry Chen (陳亮丞) said the app would help take the guesswork out of buying a new home, by swiftly offering essential information at the touch of a button.

Chen said the app was part of a wider modernization effort, after the bank upgraded its online and mobile banking platforms and introduced a service allowing online credit card applications.

“DBS continues to work towards changing the experience of our clients through mobile technology, making the time-consuming and painstaking process of homebuying into a more fun, pleasurable process towards realizing their dreams.”

DBS Head of Deposits and Secured Lending for Consumer Banking Sung Ling-yun (宋霖耘) said the bank understood that buying property could be a complicated and lengthy process and that the app would reduce such difficulties.

Sung said app users could access information on more than 100,000 properties provided by local property site HouseFun (好房網) and filter searches based on price and location.

The app includes government-compiled transaction data from the past six months as well as other sources that report prices from as recently as the previous month.

Sung said to celebrate DBS’s receipt of the 2016 Euromoney magazine World’s Best Digital Bank award, the first 100 people to arrange a mortgage with DBS through the new app would have a chance to win gift vouchers worth between NT$10,000 and NT$30,000.

DBS’ win marks the first time an Asian bank has won the award.

The magazine also named DBS Asia’s best bank — a first for a Singaporean bank.

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The Development Bank of Singapore’s (DBS) General Manager Jerry Chen (陳亮丞), right, attends the press launch for the bank’s new mobile mortgage app at DBS’s Taipei headquarters, Monday, Nov. 14. (Christine Chou, The China Post)

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