Daily Briefing: Why Singaporeans are losing interest in retail shopping; Mobile payment gains traction in Singapore

And here's what you need to know about robo-advisors.

With consumers holding tightly onto their wallets, retail outlets are facing a tough time to make ends meet. This has led to lower occupancy in malls. According to Colliers, the rate rate of vacant space around the submarkets of Orchard has risen 0.7% to 8.7%. This has been the highest recorded percentage since the Urban Redevelopment Authority first started taking notes on retail space data for entertainment, food and beverage as well as fitness centres in 2011. Read full story here.

Some of the biggest banks in Singapore have already launched their digital banking segment. Recently, the Association of Banks in Singapore (ABS) and the Banking Computer Services (BCS) have been in talks to link bank account numbers to user mobile numbers to allow for faster banking transactions. Get to know how this works here.

Singapore's wealth management needs have been dominated by its leading banks for decades. However, in several markets around the world, robo-advisors are making inroads into territory that was traditionally the domain of well-established wealth managers. These new companies utilise sophisticated algorithms instead of human advisers to decide on asset allocation. Find out how this will play out here.