CDP investment data now included in SGFinDex, insurance to be next

SGFinDex is a digital service which lets users view their finances on a single online platform of their choice. PHOTO: ST FILE

SINGAPORE - Singaporeans can now view information on their investment holdings at the Central Depository (CDP) as part of their consolidated financial position via participating banks' financial planning applications and MyMoneySense, a free Government financial planning digital service.

CDP is the main custodian for securities listed on the Singapore Exchange and government-issued securities.

This additional service has come about with CDP data now being included in the Singapore Financial Data Exchange (SGFinDex), the Monetary Authority of Singapore (MAS) and Smart Nation and Digital Government Group announced on Monday (Nov 8).

SGFinDex is a digital service which lets users view their finances on a single online platform of their choice instead of having to visit the website of each bank or government agency.

Singaporeans will also be able to access information on their insurance policies in the next phase of SGFinDex, the agencies said.

The financial information which can already be viewed using one's SingPass includes deposits, credit cards, loans and investments from participating banks, as well as Housing Board loans and Central Provident Fund balances from government agencies.

Some 150,000 users have signed up for SGFinDex since its launch in December last year, with 290,000 bank accounts linked and 620,000 data retrievals made.

MAS assistant managing director for capital markets Lim Tuang Lee said the inclusion of CDP data is an important step to giving Singaporeans "a more holistic view of their financial portfolio".

This will empower them to make better financial decisions and retirement plans, he said.

Join ST's Telegram channel here and get the latest breaking news delivered to you.