THE Singapore Exchange has enabled SingPass use to authorise transactions requiring a high level of security for Central Depository services, it said on Monday.
CDP began offering access to the national digital identity system, including transaction signing, from October 2020 for CDP Internet online services. The move to offer SingPass access is part of a larger plan to bring all CDP customers on board CDP Internet - an online service which allows investors to access their investment portfolio, download e-statements and manage their securities-related activities.
Enabling SingPass use 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, online corporation actions form submission, and the use of PayNow to subscribe and pay for rights issues. Kwok Quek Sin, GovTech senior director of National Digital Identity, said transaction signing with SingPass, as with the other National Digital Identity initiatives, is a significant step towards helping businesses develop value-added digital services to serve their customers better.
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