Fintech Market Overview

This article does not constitute legal advice.

Client identification in Singapore


Government Technology Agency (GovTech) issues and manages a national digital identity known as SingPass that allows Singaporeans to access electronic services provided by the government and its statutory boards, such as filing income taxes and paying parking fines. In addition to Singapore citizens and permanent residents, holders of certain documents allowing residence in Singapore (such as employment passes and dependent passes) can register as well.1

With SingPass, users can authenticate themselves through facial verification against a government-verified biometric database using Identiface.1

GovTech's subsidiary Assurity Trusted Solutions Pte Ltd has rolled out a cryptographically robust Sign with SingPass digital signing service, partnering with multiple private-sector application providers such as DocuSign, iText, Netrust, Adobe, OneSpan, Dedoco, Tessaract.io and Kofax. This service serves to bring government services into the digital realm and is working towards 100 per cent end-to-end digitisation of processes. Government agencies will now expectSingPass holders to use their digital signatures to accomplish transactions without needing to be physically present.1

Digital onboarding in Singapore

Fintech in Singapore

Fintech in other countries

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Singapore Fintech Lawyers

Denis Polyakov

Denis Polyakov

Comprehensive legal services for businesses on corporate, tax law, cryptocurrency legislation, investment activities

  1. https://thelawreviews.co.uk/title/the-financial-technology-law-review/singapore