SINGAPORE - All Central Depository (CDP) account holders will soon be able to use SingPass to view their securities portfolios and access account statements on the CDP Internet investor portal.
Existing CDP Internet users who are Singaporeans and permanent residents could log in with their SingPass from October last year.
From Feb 1, the Singapore Exchange will activate CDP Internet for all CDP account holders who are Singaporeans and permanent residents, including those who have not used the portal.
They will likewise be able to log in to the portal via their SingPass.
This service is available by default, said CDP in an email to investors on Thursday (Jan 14). Work pass holders who are eligible for SingPass can also use the same service by the middle of this year.
Meanwhile, corporates, trustees and foreigners may apply to access CDP Internet with their user ID.
"We strongly encourage all account holders to access CDP Internet using SingPass," said Mr Nico Torchetti, head of operations and market services at SGX, which operates the CDP.
The move is part of SGX's CDP Goes Digital initiative, which aims to allow investors to access their CDP portfolio, e-statements, notifications, and update their contact details via SingPass.
It also comes amid Singapore's push to allow people to have easier access to their personal financial information.
Starting last month, Singaporeans can view their funds and investments on a single online platform instead of having to visit each bank's or government agency's website.
This is made possible by the Singapore Financial Data Exchange, or SGFinDex, a digital infrastructure that rides on SingPass.
For now, there are seven participating banks - Citibank, POSB and DBS Bank, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and UOB.
Banks have tapped SGFinDex to offer financial planning services on their respective platforms.
Users can also retrieve data from three government agencies - the Central Provident Fund, the Housing Board and the Inland Revenue Authority of Singapore - via MyInfo, the Government's one-stop data platform.
Information on insurance policies and CDP stock holdings will be included in the next phase of SGFinDex.
