Singapore’s data sharing platform MyInfo being piloted in banks

Singapore’s personal data sharing platform, MyInfo, is being piloted in banks, says Jacqueline Poh, the CEO of the Government Technology Agency (GovTech).

At present, citizens need to provide physical personal documents to banks for verification.

The integration with MyInfo will allow people to authorise banks to retrieve their government-held personal data to simplify this process, and save them the hassle of filling in forms.

Poh tweeted that the platform was rolled out on the websites of DBS Bank and OCBC Bank last weekend. “Faster easier eKYC [or electronic Know Your Customer] for onboarding your digital life,” she wrote.

United Overseas Bank and Standard Chartered Bank will also be included in the pilot, it was announced earlier.

With MyInfo, users only need to provide their personal data to the government once, instead of during every single electronic transaction - saving them time and lowering the chance of mistakes.

It is now available across 18 digital services. GovTech and the Singapore Ministry of Finance are partnering with the Monetary Authority of Singapore to extend the service to the banking industry, according to a press release.

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