DBS launches VR Mortgage App

DBS Bank has launched a mortgage app, DBS Home360, that lets Hong Kong homebuyers take advantage of virtual reality. The bank in its endeavor to make banking more interactive for its customers and add value to their experience has now enabled its buyers in Hongkong to have virtual, 360 degree tours of properties.

The bank has partnered with the local realtor Century 21 to develop this app. The app not only offers a virtual tour anywhere and anytime but also shortlists suitable properties based on affordability and preferred locations. The app leverages professional valuation firm Cushman & Wakefield’s database to provide preliminary indications of property market values as a reference for users. If a customer likes how the property looks in VR, they can tap a budget calculator to get an estimate of how much they can expect to pay (inclusive of stamp duty, commissions etc.). Then they can see if they qualify for a mortgage before getting in touch with a bank representative.

Royce Teo, Head, Consumer Banking Group and Wealth Management, Hong Kong, DBS said, ““Many people in Hong Kong today are looking to buy properties, but may not have much idea how to go about it, or feel overwhelmed by all the information available. We developed DBS Home360 as an innovative, interactive and intuitive way to put the power of realtors and banks at your fingertips. More importantly, prospective homebuyers can gain a clear understanding of the home-buying process, from searching for properties to sending in the mortgage application. With this first-in-market app, buying a home is simple, engaging and fun.”