, Singapore

UOB to pilot 'Sign with Singpass' for e-signature authentication

The bank will test the feature with retail and corporate clients for 12 months.

UOB has become the first bank in Singapore to pilot the use of GovTech’s Sign with Singpass for digital signature authentication, the bank announced.

Under an initial 12-month pilot, UOB will test Sign with Singpass with a set of its retail and corporate customers. Some of the transactions will include forms for individual wealth planning services and the PayNow Corporate application.

The feature allows Singpass users to digitally sign an electronic document through the Singpass app. This digital signature is identifiable and uniquely linked to the signer.

During the digital signing process, only a cryptographically random, indecipherable code will be shared with UOB’s document management platform to confirm that the customer has signed the document.

After the pilot, the bank will expand Sign with Singpass in more of its products and services for both the retail and wholesale segments in the country. It also plans to expand its electronic signature capability to the region from 2022. 

Once rolled out across all markets, e-signatures will cut down the use of more than two million multi-page hardcopy documents each year, the bank said.


Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Get Singapore Business Review in your inbox
It will apply to vaccines administered in Singapore under SAR.
Its startups may now receive up to US$250,000 investment.
The Lion City also has the highest insurance penetration amongst the six markets at 5.9%.
The bank will anchor up to US$200m or 40% of the fund size, whichever is lower.
A wholly-owned subsidiary of WeWork is occupying 56,977 sq ft of Prime’s California property.
The jobless rate during the quarter also eased, but remained elevated.
The notes are expected to be issued on June 23rd.
Its IP coverage for vaccine complications now include those approved by WHO under EUL.
The Lion City ranks 13th most expensive location for expatriates in the world.
Due to construction delays, buyers may prefer "ready-to-move-in" properties.
Wilmar International saw the sharpest decline during Thursday's trading, with a 1.52% drop.
Its skilled talent pool, logistical network, government funding and physical infrastructure helped it maintain its competitive position as a biomedical hub.
Singapore millennials were found to be more stressed than the global average.
Almost four-fifths (76%) of Singaporean consumers are not satisfied with generic credit offers from their banks, with 24% willing to offer more information in exchange for better rates or lower fees, a FICO study revealed.