Built on the principles, safe and secure data, trusted ecosystem of partners and inclusive design for all residents, it’s only natural that Singpass has been so willingly adopted and accepted. To date, Singpass’ user base exceeds 4.5 million users and facilitates 350 million personal and corporate transactions.
This makes Singpass excellent leverage for organizations looking to enhance their digital businesses. However, is Singpass integration truly beneficial for all organizations across all industries?
To answer this, we have identified a few factors that organizations should consider when integrating Singpass, along with its suite of services that include Singpass Application, Singpass 2FA, Myinfo, Myinfo business and more.
Is your customer onboarding process very documentation-intensive?
Several of us will be familiar with the amount of paperwork required when purchasing new products from the banking and insurance industries. Due to the sensitive and complex nature of the banking and insurance products, several documents come into play, with signatures needed across multiple pages. The Singpass service Myinfo has drastically changed this tedious process for the better.
Myinfo enables users to pre-fill digital forms using their personal data obtained from government sources. This method not only gives users control over how their information is shared, but it significantly speeds up the form-filling process. The usage of Myinfo has resulted in an average decrease in application time for users, by up to 80%! Businesses also report up to 15% higher approval rates due to them receiving better data quality. Now, even the most documentation-intensive process has been made smooth and pleasant!
To date, 800 digital services offered by both the public and private sectors have been onboarded to Myinfo. This reflects just how rapidly organizations are leveraging Myinfo to streamline their customer onboarding process.
Does your customer acquisition include physical visitor registrations and roadshows?
In Singpass’ suite of services, Verify is one that enables users to physically verify their identity and execute data transfer by simply scanning a QR code or tapping Near-Field Communication (NFC) devices. This simplified yet secure process allows businesses to digitize physical transactions that would otherwise require documents, collecting of physical NRICs and so on.
Use cases include new patient registrations at clinics, expression of interest at event roadshows, user verification for personal loan / credit card applications, telcos receiving new sign-ups and several other form-filling transactions. The form-filling process is reduced to mere clicks, since users can share relevant data by scanning a QR code or tapping an NFC device, then providing consent via the Singpass mobile application.
The entire process is also made more convenient and safer since there’s no risk of human errors like forgetting to return a user’s NRIC, now that the data transfer is done digitally through Verify.
Will making your digital business more accessible increase market share?
The commonly known two-factor authentication (2FA) options with Singpass are Singpass Mobile and SMS-OTP. These options are highly convenient for smartphone users as authenticated users can access digital services by simply pressing their fingerprint on their smartphone screens.
However, not all users of Singpass may have access to a smartphone. In line with the Government’s efforts to build a more inclusive digital society, Singpass Face Verification and Multi-User SMS 2FA were introduced to help these users overcome access barriers to digital services.
Through Face Verification, businesses will boost productivity during pre-registration while ensuring security, since Face Verification leverages existing government records (i.e. NRIC photo, Passport photo, etc.) for authentication. Users can therefore access digital services using their Singpass login credentials, followed by scanning their face on an Internet-enabled computer with a web camera or mobile device with a front-facing camera.
Face Verification utilizes security measures that protect users from fraud. Technology like liveness detection is used to detect and block the use of a photograph, video or mask during the verification process.
Multi-User SMS 2FA is an extension of the existing SMS-OTP 2FA method. This empowers users who require assistance of others when transacting online. Users using this option can opt to have their SMS-OTP sent to another Singpass user’s mobile number. This other user can then assist the user in providing the 2FA to complete the transaction. Once again, businesses integrating Singpass won’t need to worry about storing the personal details since all relevant information is already contained in government’s records.
Aside from agencies, banks can also use Face Verification to expedite digital banking registration processes. DBS has reported that one out of four customers have chosen Face Verification over using their ATM, credit / debit card and PIN to complete the verification process.
Will Singpass integration take up a lot of resources, especially for legacy systems?
Thanks to Singpass APIs, there’s no need for your business to go through capital-intensive, custom integrations. Singpass can be integrated through the software as a service (SaaS) model
Adnovum Singapore for instance, has introduced Secpass which serves as a one-stop integration of Singpass for businesses with multiple applications and e-services. It provides organizations of all sizes with a seamless Singpass authentication access. Perhaps most importantly, all Secpass’ features and functionalities can be integrated as rapidly as 2 weeks.
Aside from lower up-front costs when compared to custom integrations, Secpass is also scalable to grow with your business and can be updated / upgraded easily wherever applicable.
Contact us to find out how your business can tap into Singpass’ user base of over 4.5 millions users through seamless Singpass integration.