Tech in 2021: Aggregation of more personal financial data to benefit consumers

The newly launched data aggregation platform SGFinDex is part of a global move to promote open banking to narrow the information asymmetry between financial providers and customers.
The newly launched data aggregation platform SGFinDex is part of a global move to promote open banking to narrow the information asymmetry between financial providers and customers.ST PHOTO: TIMOTHY DAVID

SINGAPORE - Data sharing on an unprecendented scale took place last month with the launch of data aggregation platform Singapore Financial Data Exchange, or SGFinDex.

It is part of a global move to promote open banking to narrow the information asymmetry between financial providers and customers - to help customers compare deals, better manage budgets and spot fraud faster.

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