SGFinDex is the world's first public digital infrastructure to use a national digital identity and centrally managed online consent system to enable individuals to access, through applications, their financial information held across different government agencies and financial institutions.
Singapore Financial Data Exchange (SGFinDex)
SGFinDex, which stands for Singapore Financial Data Exchange, is a joint initiative by the Monetary Authority of Singapore (MAS) and the Smart Nation and Digital Government Group (SNDGG), with the support of the Ministry of Manpower (MOM). It is built on Singapore's National Digital Identity (SingPass), and developed by the public sector in collaboration with The Association of Banks in Singapore and 7 participating banks.
With SGFinDex, individuals can use their SingPass to retrieve their personal financial information (such as deposits, credit cards, loans, and investments) from the participating banks and their financial information (such as HDB loans and CPF balances) from the relevant government agencies. This will help individuals better understand their overall financial health and plan their finances holistically.
Efficient and Standardised
Centralised gateway for efficient data sharing based on common data and API standards
A government owned and operated infrastructure that uses National Digital Identity (SingPass) authentication and consent framework
Drives Digital Transformation
Enables data-driven innovations
Financial Planning Use Case
Convenient sharing of data across entities with SGFinDex
The Old Way
- Individuals manually collate financial data across different data sources which can be cumbersome and time consuming
The SGFinDex Way
Individuals can conveniently and securely view their consolidated personal financial data on any financial planning application(s) of their choice
Financial Planning Made Easier
Enables Singaporeans to do better financial planning and achieve financial well being
- Current / Savings Account and Fixed Deposit (month-end account balance for the last 4 months)
- Outstanding credit card balances (last 4 months statement balance)
- Loans balances (previous month's statement balance)
- Unit Trusts (previous month's account balance)
- CPF Investment Scheme (CPFIS)/ Supplementary Retirement Scheme(SRS) holdings (previous month's account balance)
Data is only retrieved after the user has given consent. Users retain control over which participating entities they wish to share their data with.
- Data is kept confidential and protected during the data transmission process. SGFinDex cannot read and does not store the user’s personal financial data.
SingPass as the authentication and authorisation mechanism
- Users are verified with SingPass before they can connect their bank accounts and retrieve data. User’s identity is verified each time their personal financial data is retrieved.
- Users’ personal financial data is encrypted when it is retrieved through SGFinDex. Only the financial planning application/website that the user has authorised to receive the data is able to decrypt it.