Investment Holdings Data Included in SGFinDex | Techsauce

Investment Holdings Data Included in SGFinDex

The Monetary Authority of Singapore (MAS) and the Smart Nation and Digital Government Group (SNDGG) today launched the Fsecond phase of the Singapore Financial Data Exchange (SGFinDex). Individuals 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.


SGFinDex

Since its inception on 7 December 2020, SGFinDex has spurred financial planning among participating bank customers with over 150,000 unique user sign-ups, 290,000 bank accounts linked and 620,000 data retrievals made. CDP's participation in SGFinDex expands the range of financial information that individuals can retrieve from participating banks and government agencies. This provides individuals with a more comprehensive view of their financial positions. The inclusion of CDP information in SGFinDex was achieved through close collaboration with the Singapore Exchange (SGX), participating banks and the Association of Banks in Singapore (ABS). In the next phase, individuals can look forward to accessing the information on their insurance policies through SGFinDex as well.

Mr Lim Tuang Lee, Assistant Managing Director (Capital Markets), MAS said, “The inclusion of CDP data in SGFinDex is an important step to providing Singaporeans with a more holistic view of their financial portfolio, empowering them to make better financial decisions and enhance retirement planning.”

Mr Kendrick Lee, Director, National Digital Identity, Government Technology Agency (GovTech) added, “We are delighted that the close partnership SNDGG has with our industry partners has equipped Singaporeans with more robust digital solutions for their financial needs. We seek to expand on such initiatives to drive and improve consent-based data-driven innovations and build trusted online ecosystems for better lives in Smart Nation Singapore.”

Mr Daniel Hildebrand, Head of Digital & Depository Services, SGX said, “CDP provides integrated clearing, settlement and depository services for a wide range of products in Singapore's securities market and its data form a critical part of investors' overall financial portfolio. We are supporting our account holders to better view and plan their finances by providing CDP data through SGFinDex, a platform offered jointly by MAS and SNDGG to enable individuals to improve their financial planning.”

RELATED ARTICLE

Responsive image

Bualuang Ventures Joins with Krungsri Finnovate to Provide Series A Funding For PEAK

PUUN Intelligent is a Thai fintech and the developer of PEAK, the most widely used cloud accounting platform in Thailand. The funding will be used to expand PEAK’s market share and...

Responsive image

NIA Collaborates with Business Finland on ‘Innovation Diplomacy’ to Push Thailand to Becoming a More Innovative Country

The National Innovation Agency (Public Organization) or NIA today signs a memorandum of collaboration with Business Finland, a state agency promoting investment on innovation of Fi...

Responsive image

Interactive 3D NFTs on the Internet Computer To Spark Next Evolution in NFT Gaming

The DFINITY Foundation, a major contributor to the Internet Computer, a blockchain that runs at web speed and provides an infinitely scalable platform for smart contracts, is pleas...