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KUALA LUMPUR (December 7): Malayan Banking Bhd (Maybank) is among the participating banks of the recently launched Singapore Financial Data Exchange (SGFinDex), which will allow Singaporeans to consolidate their financial information for more effective financial planning, according to a statement. set released today by the Monetary Authority of Singapore, Smart Nation and Digital Government Group and the Singapore Banking Association.
In addition to Maybank, the other participating banks in SGFinDex, which launched today, are Citi, DBS Bank Ltd, POSB Bank, HSBC, OCBC Bank, Standard Chartered Bank and United Overseas Bank Ltd (UOB), according to the statement.
“SGFinDex is the world’s first public digital infrastructure that uses a national digital identity and a centrally managed online consent system to allow people to access, through applications, their financial information stored in different government agencies and financial institutions” says the statement.
Based on the Singapore National Digital Identity (SingPass), SGFinDex was developed by the public sector in collaboration with the Singapore Banking Association and participating banks, according to the statement.
According to the statement, participating banks and the Singapore Ministry of Manpower will provide financial planning applications or websites that users can use to view their consolidated financial data.
In Bursa Malaysia today, Maybank’s share price rose nine sen or 1.1% to RM8.29 at 3.44pm for a market capitalization of approximately RM93.18 billion.
Maybank, which is the most valuable publicly traded group in Malaysia, registered 2.55 million shares trading.
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