MyInfo for Non-Face-to-Face Customer Identification (289 KB)
Find out how banks can use MyInfo to streamline customer on-boarding, with the customer's consent. MyInfo is a reliable source of personal data verified by the government.
Financial institutions need to implement robust controls when on-boarding new customers, e.g. when opening a bank account, to detect and deter money laundering or terrorism financing. This is a crucial process but can be costly and laborious.
MAS is working closely with local and foreign banks to explore a shared utility that will streamline end-to-end KYC checks. A potentially transformative project, it will improve risk management, and at the same time, simplify the customer experience.
The NDI platform will provide Singapore residents with a nationally available means to prove their identity so they can transact conveniently and securely online across the public and private sector. In the near term, the NDI will support: