Singapore is reportedly looking to adopt biometric identification tools to verify identities at Banks and hospitals.
There are plans for the country to release a National Digital Identity Facial Biometric System, with a trial planned to take place next year, according to a report from Straitstimes.
This system will be backed by the government and will match facial identities captured on kiosks or mobile devices with information stored at a national biometric database, it said.
By doing this, the government is hoping to improve its security and enable organisations to improve their onboarding and verification processes. This system will empower financial institutions to improve their customer verifications processes and ensure security for transactions.
Singapore’s GovTech, which develops technology for the digitalisation of government services, is allegedly reviewing 10 bids from companies wishing to develop the national database.
When the first trial is launched, it will focus on a simplified registration to SingPass Mobile users. SingPass is a mobile app which enables users to access and transact with and government digital service though a fingerprint scan or 6-digit pin, helping to remove the need of multiple passwords.
Through this service, people will be able to register for the biometric database by just scanning their face with their mobile phone and will be instantly verified by the Government’s system.
Earlier in the year, The Monetary Authority of Singapore launched a new corporate structure in order to boost the fund ecosystem in the country. The introduction of the VCC structure is aimed at positioning Singapore to become a ‘key fund domiciliation hub’, strengthening the country’s position as a full-service international fund management centre.
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