All Central Depository (CDP) account holders will soon be able to use SingPass to view their securities portfolios and access account statements on the CDP Internet investor portal.
Existing CDP Internet users who are Singaporeans and permanent residents have been able to log in with their SingPass since last October.
The Singapore Exchange (SGX) will activate CDP Internet for all CDP account holders who are Singaporeans and permanent residents from Feb 1, including those who have not used the portal. They will likewise be able to log in to the portal via their SingPass. This service is available by default, said CDP in an e-mail to investors on Thursday.
Work pass holders eligible for SingPass will be able to use the service by the middle of the year.
Corporates, trustees and foreigners can apply to access CDP Internet with their user ID.
The move is part of SGX’s CDP Goes Digital initiative, which allows investors to access their CDP portfolio, e-statements, notifications and update their contact details via SingPass. It also comes amid Singapore’s push to allow people to have easier access to their personal financial information.
Another initiative that began last month allows Singaporeans to view their funds and investments on a single online platform instead of having to visit each bank’s or government agency’s website.
It was made possible by the Singapore Financial Data Exchange, or SGFinDex, a digital infrastructure that rides on SingPass. The participating banks are Citibank, POSB and DBS Bank, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and UOB.
Some have tapped SGFinDex to offer financial planning services.
Users can also retrieve data from three government agencies – the Central Provident Fund, the Housing Board and the Inland Revenue Authority of Singapore – via MyInfo, the Government’s one-stop data platform. Information on insurance policies and CDP stock holdings will be included in the next phase of SGFinDex.