Singapore government introduce data sharing for bank applications

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This week, the Singapore Government Technology Agency announced that potential clients of some of Singapore’s largest banks will not be required to go through the process of filling out application forms with their personal particulars from now on thanks to MyInfo; a Government run digital vault that contains personal documentation will now be permitted to be utilised by the banking sector. Singapore’s main four banks will be included, namely: Standard Chartered Bank, Development Bank of Singapore, United Overseas Bank and Oversea-Chinese Banking Corp. Plans to include even more banks are also being planned, as this will facilitate and assist with general bureaucracy and lengthy bank applications.