- Exclusive Tie-up Extends POSB’s Presence To 83 SPH Buzz Pod Outlets
SINGAPORE, 28 April 2013 – POSB and Singapore Press Holdings (SPH) today announced an exclusive partnership to offer Self-Serving Banking services including ATMs at SPH Buzz Pod outlets in Singapore. This partnership will bring greater banking convenience to the customers who frequent SPH Buzz Pod outlets each month.
The first such SPH Buzz Pod with an ATM is sited at Block 803 Yishun Ring Road, and was officially unveiled by Member of Parliament for Ngee Soon GRC Er Dr Lee Bee Wah this morning.
POSB’s exclusive agreement with SPH Buzz will extend to all 83 SPH Buzz Pod outlets at convenient locations across Singapore.
For the first phase of the deployment, POSB intends to deploy 15 ATMs at Buzz Pod outlets by the end of the year. The bank will also promote basic banking products including general insurance at these outlets which are largely located within the heartlands.
POSB/DBS has the largest ATM network in Singapore with over 1,100 ATMs islandwide. Along with the ATMs, POSB/DBS’ network of self-service machines includes 250 Cash Acceptance Machines (CAMs), 650 AXS Stations, 30 coin deposit machines and 20 cheque deposit machines.
Mr Derrick Goh, Head of POSB said: "The expansion of POSB’s extensive self-service banking network is part of our continuous efforts to better serve our four million customers. The introduction and innovation of new touch points are part of our ongoing initiatives to make banking even more accessible to them.”
The bank’s ATMs are well represented at more than 75 Esso and SPC petrol stations as well as over 100 supermarkets such as the NTUC FairPrice and Cold Storage.
Goh added: “ATMs will remain a key point of contact for many of our customers. This partnership with SPH allows us to bring greater convenience to our customers who frequent SPH Buzz Pod outlets which are well located in the heart of the community. With our expansive network of ATMs, AXS Stations and CAMs, our customers will be able to perform their banking transactions 24/7, all across Singapore.”
SPH Buzz Pod outlets are a chain of modern convenience stores and newsstands located at bus interchanges, bus shelters, MRT stations, shopping malls and heartland areas. Started in 2007 as a franchise model, it is run by SPH Buzz Pte Ltd, a wholly-owned subsidiary of SPH.
Mr Chua Wee Phong, SPH’s Executive Vice-President for Circulation and Chairman of SPH Buzz Pte Ltd said: “SPH Buzz Pod outlets have evolved from traditional newsstands to modern convenience lifestyle concept stores. We are very pleased to be able to partner DBS to add banking convenience to the suite of products and services currently available at the SPH Buzz Pod outlets. Through this partnership, we aim to enhance our customers’ shopping experience and convenience needs.”
POSB SPH Buzz Pod 1: (L to R) Jeremy Soo, Head of Consumer Banking Group Singapore; Tan Su Shan, Group Head of Consumer Banking/Wealth Management; Bertie Cheng, POSB Advisor; Er Dr Lee Bee Wah, MP for Ngee Soon GRC; Domenic Fuda, Deputy Group Head of Consumer Banking/Wealth Management; Chua Wee Phong, Executive Vice-President for Circulation, SPH and Chairman of SPH Buzz Pte Ltd; and Derrick Goh, Head of POSB
POSB SPH Buzz Pod 3: Er Dr Lee Bee Wah making a purchase at SPH Buzz Pod
Issued by Singapore Press Holdings Ltd
Co. Regn. No. 198402868E
A part of the DBS Group, POSB is the largest local bank in Singapore with 4 million customers. Having served generations of Singaporeans for the past 135 years, it is known as the "People's Bank", and prides itself in being "neighbours first, bankers second".
With a good understanding of Singaporeans through the years, POSB offers products and services that are relevant to the savings, borrowing, investment and insurance needs of all Singaporeans. With over 50 branches conveniently located islandwide, and close to 1,000 ATMs and Cash Acceptance Machines across the island, POSB's distribution network is the largest in Singapore.
POSB acknowledges the passion, commitment and can-do spirit in each of its staff. For more information, please visit www.posb.com.sg.
About Singapore Press Holdings Ltd
Incorporated in 1984, main board-listed Singapore Press Holdings Ltd (SPH) is Southeast Asia’s leading media organisation, engaging minds and enriching lives across multiple languages and platforms.
Newspapers, Magazines and Book Publishing
In Singapore, SPH publishes 18 newspaper titles in four languages. On an average day, 3.05 million individuals or 76 per cent of people above 15 years old, read one of SPH's news publications. SPH also publishes and produces more than 100 magazine titles in Singapore and the region, covering a broad range of interests from lifestyle to information technology. SPH's subsidiaries, Straits Times Press and Focus Publishing, produce quality books and periodicals in English and Chinese.
Internet and Mobile
Beyond print, the Internet editions of SPH newspapers enjoy over 270 million page views with 18 million unique visitors every month. Apart from AsiaOne, SPH’s online and new media initiatives include ST701, the leading online marketplace for jobs (STJobs), property (STProperty), cars (STCars) and general classifieds (STClassifieds); Stomp, omy.sg and The Straits Times RazorTV. SPH also launched The Straits Times’ iPad and enhanced iPhone applications, an Android smartphone application and The Business Times’ iPad and smartphone applications. SPH’s Chinese flagship newspaper Lianhe Zaobao has also launched its digital editions which include a web application, as well as online and PDF versions.
In the radio business, SPH has an 80 per cent stake in SPH UnionWorks Pte Ltd, which operates entertainment stations UFM 100.3 in Mandarin, as well as Kiss92 and HOT FM91.3 in English. SPH has a 20 per cent stake in MediaCorp TV Holdings Pte Ltd, which operates free-to-air channels 5, 8 and U, and a 40 per cent stake in MediaCorp Press Limited, which publishes the free newspaper, Today.
Events and Out-of-Home Advertising
SPH’s events arm Sphere Exhibits organises innovative consumer and trade events and exhibitions as well as large scale conferences in Singapore and the region. In addition, SPH has ventured into out-of-home (OOH) advertising through its digital out-of-home platform SPH MediaBoxOffice.
SPH owns and manages Paragon, the prime retail and office complex in the heart of Orchard Road, Singapore's main shopping belt. Its second retail development, The Clementi Mall, started business operations in 2011. SPH's wholly-owned subsidiary, Times Development Pte Ltd, has also developed a 43-storey upmarket residential condominium, Sky@eleven, at Thomson Road. SPH‘s latest retail development project, The Seletar Mall, is slated for completion by end 2014.
For more information, please visit www.sph.com.sg.
For more information, contact:
Group Strategic Marketing & Communications
Tel: (65) 6878 6519
Fax: (65) 6222 4478
Mobile: (65) 9278 0089
Corporate Communications and CSR
Singapore Press Holdings Ltd
Tel: (65) 6319 1586
Mobile: (65) 9749 5105