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PR Newswire
08-11-2010, 07:28 AM
Nov 8, 2010
One-stop personal finance portal
By Cheryl Lim
Trying to find the best way to invest his money was the spark that prompted Mr Giora Kanner to start the personal finance portal MoneyLine.sg.
Tired of going through several different websites to find out about the various financial products available, he decided to create 'a single point of reference'.
Mr Kanner, MoneyLine.sg's chief executive, said other online financial portals in Singapore present only one to two products.
But MoneyLine.sg will offer a wide variety of products - including home loans, credit cards and online investment platforms available here - from about 25 financial organisations. By the first half of next year, it aims to include insurance products as well.
The portal, which starts operating today, allows consumers to specify the product traits they are searching for, then presents the most relevant products.
For instance, Mr Kanner said, consumers looking to compare credit cards on the website can limit their choices by their preferred bank, annual fee or lifestyle privileges.
MoneyLine.sg is aimed at Internet-savvy users aged between 30 and 45, who earn enough to make a financial decision.
Mr Kanner hopes the portal can facilitate 1,000 transactions a month. The portal also contains a collection of guides and articles to help consumers better manage their finances.
Mr Kanner, a Singapore permanent resident originally from Israel, said personal financial portals generate US$4 billion (S$5.1 billion) to US$5 billion a year in America and estimates the sector is potentially worth $40 million to $50 million a year in Singapore.
One-stop personal finance portal
By Cheryl Lim
Trying to find the best way to invest his money was the spark that prompted Mr Giora Kanner to start the personal finance portal MoneyLine.sg.
Tired of going through several different websites to find out about the various financial products available, he decided to create 'a single point of reference'.
Mr Kanner, MoneyLine.sg's chief executive, said other online financial portals in Singapore present only one to two products.
But MoneyLine.sg will offer a wide variety of products - including home loans, credit cards and online investment platforms available here - from about 25 financial organisations. By the first half of next year, it aims to include insurance products as well.
The portal, which starts operating today, allows consumers to specify the product traits they are searching for, then presents the most relevant products.
For instance, Mr Kanner said, consumers looking to compare credit cards on the website can limit their choices by their preferred bank, annual fee or lifestyle privileges.
MoneyLine.sg is aimed at Internet-savvy users aged between 30 and 45, who earn enough to make a financial decision.
Mr Kanner hopes the portal can facilitate 1,000 transactions a month. The portal also contains a collection of guides and articles to help consumers better manage their finances.
Mr Kanner, a Singapore permanent resident originally from Israel, said personal financial portals generate US$4 billion (S$5.1 billion) to US$5 billion a year in America and estimates the sector is potentially worth $40 million to $50 million a year in Singapore.
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