Singapore’s financial institutions are crucial for the country’s growth and development, providing loans, credit, insurance products, and financial advice to businesses and individuals. The Monetary Authority of Singapore (MAS) regulates all eligible financial firms, ensuring they adhere to the Financial Companies Act.
Read on to discover the top five companies in each category and why they are considered the best in Singapore.
Important Criteria to Consider When Comparing Financial Institutions
When comparing financial institutions, it’s important to consider several criteria, including:
- Market Capitalization: For those of you unfamiliar with market capitalization, this is essentially the total market value of a company’s outstanding shares of stock. Finance firms with higher market capitalization are generally considered more valuable.
- Revenue and Profits: Financial stability is everything. Companies with higher revenue and profits are typically deemed more successful.
- Reputation and Brand Recognition: A financial firm with prominent brand recognition and a solid reputation in the market will always be seen as reliable and trustworthy.
- Range of Services on Offer: Diversified companies that offer multiple financial products and services can serve a much wider customer base and will therefore have higher customer satisfaction ratings and be considered better positioned to meet their clients’ needs.
Top 5 Financial Institutions in Each Key Finance Company Category
Let’s review some of the best finance firms currently operating in five of the most important financial support markets in Singapore – banking, capital markets, financial advisory, insurance, and payments. We’ll outline five companies offering trusted financial solutions in each niche.
Banking
The best banking organizations in Singapore offer various loans and credit-driven products. The below companies can help you access the cash you need to fuel business expansion and growth:
| Market Capitalization | Revenue and Profits | Reputation and Brand Recognition | Customer Satisfaction | |
| DBS Bank | High | $8.19bn (2022) | Strong | Read reviews here |
| United Overseas Bank (UOB) | High | $4.8bn (2022) | Strong | Read reviews here |
| Sing Investments & Finance Limited (SIF) | Medium-high | Stable | Strong | Read reviews here |
| Hong Leong Finance Limited (HLF) | High | $130.9m (2022) | Strong | Read reviews here |
| Singapura Finance Ltd | Medium-high | Stable | Medium-strong | Read reviews here |
1. DBS Bank
Dating back to 1968, DBS is one of the city-state’s top consumer banks, offering a range of business and personal banking services, from accounts and payments to smart digital tools.
Highlights
- More than 9 million customers across 18 markets.
- Great SME and MNC business solutions.
- Easy-to-use digital banking tools.
2. United Overseas Bank (UOB)
UOB’s services span from personal and financial planning to accounts, credit cards, loans, and investments. This full-service banking organization has been in the business for more than 80 years and boasts a huge international presence.
Highlights
- Massive variety of services.
- Over 80 years’ experience
- Competitive rates.
3. Sing Investments & Finance Limited (SIF)
SIF is another great go-to organization for reputable personal and corporate/SME financing services. They offer some excellent applications and exceptional customer reviews.
Highlights
- Highly-rated among customers.
- Intelligent apps and online banking tools.
- Lots of SME and small business products.
4. Hong Leong Finance Limited (HLF)
HLF has been offering banking services in the city-state for more than 60 years and currently holds the title of Singapore’s largest finance firm. They have 28 branches all across the country.
Highlights
- One of the biggest companies in the sector.
- Multiple Singapore branches.
- Excellent fixed deposit rates.
5. Singapura Finance Ltd
Singapura Finance is owned by prominent businessman Jamie Teo and offers an exceptional range of business and personal loan products. They also operate seven different Singapore branches.
Highlights
- Excellent range of loan services.
- Seven branches in Singapore.
- Great customer services.
Capital Markets
Capital markets services can span from investment solutions, equity sales and trading to invaluable consultancy services. Here are some of the biggest industry players:
| Market Capitalization | Revenue and Profits | Reputation and Brand Recognition | Customer Satisfaction | |
| Singapore Exchange Limited (SGX) | High | N/A | Strong | N/A |
| UBS | High | $7.1bn (2021) | Strong | Read reviews here |
| Deutsche Bank | High | 5.6bn Euro (globally, 2022) | Strong | Read reviews here |
| JP Morgan | High | Stable | Extra-strong | Read reviews here |
| Goldman Sachs | High | Stable | Extra-strong | Read reviews here |
1. Singapore Exchange Limited (SGX)
SGX Group offers investors numerous platforms and portals for monitoring and getting involved with securities, derivatives, and fixed income bonds. The group is known as Asia’s most international multi-asset exchange.
Highlights
- Singapore’s primary asset exchange.
- Compliant with the highest regulatory standards.
- State-of-the-art tracking tools available.
2. UBS
This asset monitoring company offers financing solutions in the Asia Pacific region. They also offer mortgages, lending and services for trusts, all with a top-tier reputation.
Highlights
- Wealth management and investment services.
- Penang Road branch in Singapore.
- Great for corporate and institutional clients.
3. Deutsche Bank
Deutsche Bank opened up its Singapore office more than 50 years ago and has since been helping clients with top-end wealth management and corporate banking services.
Highlights
- Presence in Singapore since 1971.
- Amazing reputation for private wealth and investment services.
- Excellent customer reviews.
4. JP Morgan
Corporate and investment banking experts JP Morgan have been helping Singaporeans since 1964 and are a great option for commercial clients.
Highlights
- Fully-integrated corporate and investment solutions.
- Known and respected globally.
- Active in 17 Asia Pacific markets.
5. Goldman Sachs
Perhaps one of the biggest names in investment services, Goldman Sachs offers highly respected investment management and securities support across Singapore and much further beyond.
Highlights
- Top-tier reputation.
- Expert teams in multiple departments.
- A household name in finance.
Financial Services and Advisory
Top financial advisory firms in the city-state support high net worth individuals with private equity and investment-related advice. Some of the best-known companies in this field, include:
| Market Capitalization | Revenue and Profits | Reputation and Brand Recognition | Customer Satisfaction | |
| KPMG Singapore | High | $588m (2021) | Extra-strong / global | Read reviews here |
| Providend | Medium-high | Stable | Strong | Read reviews here |
| ACA Investments | Medium-high | Stable | Medium-strong | Read reviews here |
| 8 Capital Asset Management | Medium-high | Stable | Medium-strong | Read reviews here |
| Alpha Wealth Financial Advisors | Medium | Stable | Medium-strong | Read reviews here |
1. KPMG Singapore
“Big Four” financial giant KPMG is known globally for its high-end consultancy services. Here in Singapore, KPMG’s experts provide financial advisory, tax, audit, and other services to all kinds of clients.
Highlights
- Worldwide services in multiple niches.
- Huge global team of advisors.
- Prestigious “Big Four” reputation.
2. Providend
Providend’s MAS-certified financial experts offer services ranging from estate planning and real estate advice to wealthy advisory expertise and more.
Highlights
- MAS-certified and widely-respected.
- Great for investments and securities.
- Central location in Singapore.
3. ACA Investments
This rising financial advisory firm offers a broad range of fund management and advisory services, stretching from securities to collective investment schemes and hands-on financial planning.
Highlights
- One of the best-performing fund managers in the city-state.
- Competitive prices and services.
- MAS-accredited.
4. 8 Capital Asset Management
8 Capital offer professional services expertise in multiple fields, from asset monitoring to fund management services paired with digital insights and intelligent data.
Highlights
- Dedicated and experienced team.
- Broad advisory service offering.
- MAS licensed and regulated.
5. Alpha Wealth Financial Advisors
The Alpha Wealth motto is “building a financially secure future for you and your loved ones”, and this firm certainly offers the breadth and expertise to deliver just that.
Highlights
- Investments, retirement, and legacy services.
- Commercial risk management available.
- Rapidly expanding team.
Insurance
Insurers can protect you, your family and your property and assets against all manner of things. The best insurance companies offer life insurance, medical cover, car insurance and tons of other products. They are:
| Market Capitalization | Revenue and Profits | Reputation and Brand Recognition | Customer Satisfaction | |
| Great Eastern | High | $784.2m (2022) | Strong | Read reviews here |
| AIA Singapore | High | $144.4m (2022) | Strong | Read reviews here |
| Prudential Singapore | High | $5.96bn (2021) | Strong | Read reviews here |
| NTUC Income | High | Stable | Strong | Read reviews here |
| Manulife Singapore | High | $5.4bn (2022) | Strong | Read reviews here |
1. Great Eastern
Great Eastern is without doubt one of the largest and best-known insurers in Singapore. They offer superb life insurance policies, travel insurance products and wealth accumulation packages.
Highlights
- Several different kinds of insurance available.
- Easy to purchase and extend coverage.
- Great reputation in Singapore.
2. AIA Singapore
AIA is one of Singapore’s biggest insurance companies, offering life insurance, accident protection, travel-related products, and even investment-linked policies, too.
Highlights
- Excellent product range.
- Based here in Singapore.
- Superb welcome bonuses and discounts.
3. Prudential Singapore
Another big-name insurer, Prudential offers wealth accumulation services and has worked hard to protect financial and insurance needs for more than 85 years.
Highlights
- Longstanding industry reputation.
- Quick and easy claims process.
- Lots of investment-related policies and products.
4. NTUC Income
Well-known for their excellent car insurance products, NTUC Income is one of Singapore’s most popular insurance companies, and it isn’t hard to see why.
Highlights
- Excellent product range.
- Has been in the industry since 1970.
- Top-rated telephone hotlines.
5. Manulife Singapore
Manulife offer an attractive mix of insurance and financial planning services, including intuitive protections and savings plans. They have a great reputation and an easy-to-use online portal, too.
Highlights
- Strong reputation in the insurance sector.
- Great range of insurance products.
- Easy-to-use online services.
Payments
Reputable payment providers offer you or your business fast, safe, and secure ways of making and/or receiving payments. Some of Singapore’s top payments firms include:
| Market Capitalization | Revenue and Profits | Reputation and Brand Recognition | Customer Satisfaction | |
| EZ Link | High | $190.5m (2022) | Strong | Read reviews here |
| Ayden | Medium | 728.3m Euro (globally, 2022) | Strong | Read reviews here |
| Stripe | Medium-high | Stable | Strong | Read reviews here |
| Checkout.com | Medium-high | Stable | Strong | Read reviews here |
| Braintree | Medium | Stable | Strong | N/A |
1. EZ Link
Since its inception in 2002, EZ Link has issued an impressive 40 million EZ-Link cards across the city-state and has come to be largely considered a payments sector pioneer. They help make MRT and LRT travel in Singapore easy.
Highlights
- Well-known and recognized across Singapore.
- Innovative payments technology.
- EZ-Link cards are super easy-to-use.
2. Ayden
Ayden allows its users to send and receive global payments from any device at any time. They offer such services predominantly to the business market – and at competitive rates, too.
Highlights
- Competitive pricing structure.
- Easy-to-use software.
- Their services enable businesses to boost efficiency.
3. Stripe
Stripe is one of the most popular payment gateway services globally and is especially popular with SMEs and start-ups looking for affordable payment solutions.
Highlights
- Low transaction fees
- Excellent live chat and customer support.
- Good market integration.
4. Checkout.com
This increasingly prominent payment services provider offers impressive market coverage, good fraud management technology and market integration with the likes of VoxPay and Shopify.
Highlights
- Popular payment service among Singapore’s e-commerce businesses.
- All major currencies supported.
- Very easy-to-use and set-up.
5. Braintree
Merchant and e-commerce companies in Singapore and further afield are increasingly turning to this full-stack payments service, which offers great customer support and low transaction fees.
Highlights
- Several supported payment methods.
- Low transaction fee of just $0.30.
- Customer support available via phone or live chat.
Frequently Asked Questions (FAQs) about Financial Firms in Singapore
1. What Are the Top 3 Finance Companies?
Whether you’re looking for investment services, insurance, or financial advisory services, it’s wise to check out which companies are the best-ranking in your desired field.
Sing Investments & Finance dates back to 1964 and offers top-tier financial support, while Hong Leong Finance is generally considered to be one of the best banks in the city-state and Singapura Finance is great for business and personal loans.
2. What is Singapore’s Top Financial Company?
Determining the top financial firm in Singapore for you isn’t an easy task, as this will be dependent on various factors such as the company’s services offered, their customer base, and financial performance.
Among the biggest and best-established financial companies in Singapore, are: DBS Bank, United Overseas Bank (UOB), and the Oversea-Chinese Banking Corporation (OCBC). All three of these companies are full-service banks boasting strong financial performance and broad service offerings. That said, there are several other top-performing firms you might wish to consider in the insurance and asset management sectors.
3. How Many Finance Firms Are There in Singapore?
According to the Monetary Authority of Singapore’s Financial Institutions Directory, the city-state is officially home to three top financial companies. These are: Hong Leong Finance Ltd, Sing Investments & Finance Ltd and Singapura Finance Ltd.
4. Which Companies are Best for Financial Services and Insurance?
Singaporeans seeking financial advisory services should check out KPMG Singapore and Providend, which both offer MAS-certified services and awesome reputations. For insurance, some of the top-ranking companies in Singapore include AIA, Prudential, Great Eastern Life, and NTUC Income.
Final Thoughts
The financial services industry is complex and confusing. It’s important to identify exactly what kinds of financial support you are seeking before shopping around. From here, you should:
Key takeaways
- Compare companies that offer top-tier and widely respected services in your desired financial niche.
- Look for firms that have an established reputation, good corporate governance and sound financial stability when comparing the market.
- Remember that more profitable companies with higher market capitalization and broader service offerings are generally deemed more desirable than their competitors.
Looking for fast and reliable financing options for your business needs? With our commitment to offering quick, hassle-free best business loan Singapore, we make getting the funding you need easier than ever before. Apply now and get your cash on the same day.
