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Mon, Nov 09, 2020 – 10:36 am
THE Singapore Exchange (SGX) has enabled the use of SingPass to authorize transactions that require a high level of security for Central Depository (CDP) services, it said on Monday.
CDP began offering access to the national digital identity system, including transaction signing, starting in October 2020 for CDP Internet’s online services.
The decision to offer access to SingPass is part of a broader plan to bring all CDP clients to CDP Internet, an online service that allows investors to access their investment portfolio, download electronic statements and manage their activities related to values.
Enabling the use of SingPass for CDP Internet is also part of SGX’s CDP Goes Digital initiative. The initiative introduced other services such as an investor portal, direct foreign currency conversion, submission of corporate action forms online, and the use of PayNow to subscribe and pay for rights issues.
Kwok Quek Sin, senior director of National Digital Identity at GovTech, said that signing transactions with SingPass, as with the other National Digital Identity initiatives, is an important step in helping companies develop value-added digital services. to better serve your customers.
“We will continue to work with industry partners to build more innovative digital products for citizens and establish new digitally-enabled ways of doing business for companies,” he added.
SGX CTO Michael Syn said: “Digital adoption is advancing at a relentless pace. This fuels ever-increasing demand from customers for services that are convenient, available 24 hours a day, 7 days a week. week and accessible on the go. and, most importantly, offer solutions that meet the needs of our customers. “
On November 5, GovTech launched a new Sign with SingPass feature in SingPass Mobile to allow users to sign legal and business documents virtually. The signature is encrypted and linked to the signer, whose identity is automatically validated against the government database at the time of signing.
SGX shares were up 1.8 percent or S $ 0.16 to S $ 9.27 as of 10:32 am Monday.
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