UOB to pilot Singpass digital signature for e-documents

Friday 11 June 2021 09:05 CET | News

United Overseas Bank Limited (UOB) has announced it aims to pilot the use of Government Technology Agency’s (GovTech) Sign with Singpass solution.

Sign with Singpass enables users to confirm transactions or product applications by using his/her digital signature. Thus, UOB will be the first bank in Singapore to offer this service according to a statement. Under an initial 12-month pilot, the bank will test the use of Sign with Singpass with a set of its retail and corporate customers.

Some of the transactions tested will cover individual wealth planning services and the PayNow Corporate application. After the pilot, UOB aims to expand the use of Sign with Singpass in more of its products and services for both the retail and wholesale segments in Singapore, according to Fintech Singapore.

UOB also plans to expand its electronic signature capability to the region from 2022.

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Keywords: digital signature, digital identity, payment processing, banks, partnership
Categories: Fraud & Financial Crime
Countries: Singapore
This article is part of category

Fraud & Financial Crime