- What factors are needed to ensure a successful rewards system for pragmatic Singaporeans?
For a decade, SingSaver has been at the forefront of empowering Singaporeans to take control of their personal finances, offering accurate, impartial financial product information and comparisons, seamless application experiences, and attractive incentives. Over the last ten years, consumer behaviour in credit cards, loans, wealth management and insurance products has evolved significantly, driven by technological advancements, financial literacy growth, and changing spending habits.
Singapore consumers today are more digitally savvy, value-conscious and proactive in making financing decisions, leading to a fundamental shift in the financial ecosystem and how consumers perceive value-driven products. They now seek higher perceived value and aspirational rewards aligned with their lifestyles, including a growing preference for rewards that maximise savings without compromising spending habits or lifestyle choices. Attractive sign-up offers, cashback, and exclusive gifts have, in fact, become key decision-making factors in consumers’ adoption of financial products.
For instance, we see a shift in trends where consumers are choosing credit cards that give miles, reflecting increased spending on travel and lifestyle experiences. While cashback cards remain dominant among budget-conscious segments like families and young professionals, there has been a notable rise in applications for premium and travel-focused cards that offer perks such as lounge access and concierge services among high-value applicants. This reflects a broader appetite for aspirational rewards, mirrored in the growing preference for high-value physical gifts over traditional cash or voucher incentives.
- How did SingSaver leverage Singaporeans’ psyche, in particular, towards rewards and giveaway programs, when designing their campaigns?
As part of the MoneyHero Group, we’ve spent over a decade building strong partnerships with leading financial institutions to negotiate best-in-class offers for consumers. Through SingSaver, we ensure that Singaporeans get the best deals without compromising financial stability by providing accurate, impartial financial comparisons.
Guided by our mission to enhance financial literacy in Singapore and the wider region, we actively seek opportunities that will encourage and empower consumers to take charge of their personal finance journey. SingSaver’s growth is evident in over three million enquiries received across all financial products, underscoring our role as Singapore’s most trusted personal finance comparison platform.
Innovation has been a cornerstone of our approach throughout the past decade. From pioneering Singapore’s rewards-driven personal finance model to the recent launch of the three-click travel insurance purchase journey, enabling returning users to seamlessly purchase travel insurance in just three simple clicks and eliminating the need to repeatedly fill out forms. We consistently prioritize our users’ evolving needs. This user-centric philosophy guides our strategy and operations, driving us to remain agile and innovative. For SingSaver, this translates to proactively adapting to market changes and user preferences to continuously refine our campaigns and product offerings.
Our SingSaver Rewards Program, launched in 2016 with the inaugural S$50 FairPrice voucher campaign for financial product applications, revolutionized user acquisition and engagement. This initiative was integral to our mission of simplifying personal finance by providing clarity, impartiality, and meaningful rewards to Singaporeans. In the years since, we have continued to evolve alongside Singaporean consumers, recognizing their increasing digital savviness, value-consciousness, and financial literacy. This evolution is reflected in the diversification of our rewards, which now extend beyond vouchers to include high-value, exclusive gifts such as Apple and Dyson products.
- Could you elaborate on SingSaver’s most successful campaign and how this has proven effective in engaging Singaporeans?
The latest edition of SingSaver March Madness campaign was our most recent successful campaign, with the 2025 edition marking a significant milestone as our largest yet, featuring over S$3 million worth of cash and rewards. This month-long initiative celebrates a decade of empowering Singaporeans to make smarter financial decisions and effectively engages them by incentivising applications across a broad spectrum of financial products, including credit cards, personal loans, online brokerage services, and general insurance.
The campaign’s effectiveness in engaging Singaporeans stems from several key factors that align with their pragmatic and value-conscious nature. Firstly, the substantial rewards, such as the opportunity to win up to 50% of their salary (capped at S$2,500) and other attractive incentives like staycation packages and bonus miles from HeyMax, directly appeal to consumer preference for tangible benefits and maximising financial gains.
MarchMadness’s wide range of participating financial products caters to the diverse financial needs and goals of Singaporeans, whether it’s optimising daily spending with credit cards, pursuing personal projects with loans, growing wealth through investments, or securing their future with insurance. This comprehensive approach resonates with Singaporeans’ proactive approach to financial planning.
- How has positive rewards systems like SingSaver’s provided benefits and positive impact for its partners and the wider financial ecosystem?
At SingSaver, our rewards ecosystem is not only designed to benefit consumers. It is also a strategic enabler for our commercial partners and the broader financial services landscape. By offering rewards that are tailored, transparent, and tied to informed financial actions, we deliver a steady pipeline of high-intent, ready-to-purchase users to financial institutions.
This system enhances our partners’ digital acquisition strategies, especially for institutions targeting emerging affluent and digitally savvy segments. Our platforms are built to support these goals through end-to-end digital journeys that integrate seamlessly with partner offerings.
For example, features like instant approval APIs and our three-click travel insurance purchase process reduce friction in conversion and create a more engaging user experience. Our long-standing partnerships with banks and insurers, including Citibank, SCB, HSBC, OCBC, and CIMB, are built on performance and trust. We’ve also partnered with leading platforms like Grab, Foodpanda, SG CarMart, and HeyMax, to bring financial products closer to users via embedded financial solutions. By helping them access a scalable and sustainable flow of customers, we not only contribute to their bottom line but also play a role in increasing financial inclusion across Singapore.
Furthermore, the company’s ability to generate actionable user insights empowers partners to refine their products and marketing strategies, creating a feedback loop that improves both product-market fit and campaign ROI. Through our other community-driven platforms under the MoneyHero Group umbrella like Seedly and creator collaborations via Creatory, we extend these benefits into content, education, and influence to support an ecosystem-wide financial literacy and consumer empowerment.
- Can we expect new areas that SingSaver are looking to expand their current rewards strategy?
We are continually exploring new areas to enhance our rewards strategy, including the focus on personalized rewards that meet the evolving needs of our consumers. We offer a range of gift options tied to the products consumers apply for. For instance, users who sign up for a car insurance quotation have the opportunity to win petrol vouchers; while travelers who sign up for travel insurance may receive an Apple AirTag to help track their belongings. Our wide range of gift selection includes gadgets, home appliances, vouchers, and more, allowing users to choose what best fits their preferences.
Additionally, we introduced the MoneyHero Group Members program, which provides users with tailored product information and recommendations based on their preferences, purchase history and interests. Currently, we have 7.5 million members. Our mission is to make financial decisions a rewarding experience, helping consumers find the financial products that best suit their changing needs.
- What milestones has the group achieved so far, and what are the major upcoming campaigns and milestones that we can expect?
As Singapore’s leading financial comparison platform, SingSaver has achieved various milestones and achievements across our decade-long journey. These include:
- Being the leading aggregator to provide an impartial, full-market comparison of over 100 credit cards in Singapore.
- Introduced content creator partnerships with collaborations with top influencers such as MileLion, DollarsAndSense, and SG Budget Babe for marquee campaigns such as ‘Airmiles vs Cashback’, which led to the eventual launch of Creatory – MoneyHero Group’s B2B content creator platform.
- Pioneering the transformation of financial decisions into rewarding experience, such as introducing Apple AirPods, Dyson products, and other high-value physical gifts as banking sign-up rewards.
- Launched ‘Best Deal Guarantee’ campaign in Singapore, ensuring that our users always get the most competitive offers and deals on the market.
We are continually leveraging technology to enhance our user experience. For instance, our newly launched AI Agent customer service solution delivers real-time responses to inquiries, significantly reducing response times. This AI approach not only boosts our productivity but also allows our teams to focus more strategically, accelerating the fulfillment timeline and improving the overall customer experience.
These groundbreaking innovations culminated in SingSaver becoming Singapore’s first publicly listed financial comparison platform as part of MoneyHero Group’s NASDAQ listing in 2023. Through our innovations and initiatives like the March Madness campaign in addition to the ongoing enhancement of MoneyHero Group’s ecosystem with Seedly and Creatory, we remain dedicated to equipping Singaporeans with the tools and knowledge they need to navigate the world of personal finance with confidence.
