,Singapore
14 views

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.

 

Get Singapore Business Review in your inbox
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!

This is the last trading day before the ghost month.
Its revenue also rose 23.4% YoY to. US$2,262.4m in the same period. 
It is expected to be ready for launch in H2 2022.
Encouraged by vaccinations, more Singaporeans plan to travel in the next three months.
The amendments include higher penalties for erring property agencies or agents. 
The centre aims to spearhead Singapore’s maritime industry’s energy transition.
However, PropertyGuru’s data showed continued confidence amongst sellers.
The system enables employees to have test results in as fast as 60 seconds.
COVID-19 disruptions continue to cause delays in its projects.
Its underlying profit of $832.2m is still 17% below pre-COVID levels.
The airline saw a net loss of $1.12b in the same period last year.
All of its key businesses were profitable in the first six months of the year.
Singtel, Keppel Corp, and OCBC Bank led the Straits Times Index on 29 July.