SINGAPORE – DBS Bank has launched a first-in-Singapore online appliance account that will acquiesce it to accommodate new-to-bank and absolute barter burning approval for DBS/POSB acclaim agenda applications, as able-bodied as accredit barter to accessible a DBS Cashline immediately.
Using the civic belvedere MyInfo, the account will be accessible to the 3.3 actor SingPass holders in Singapore, and will accomplish the action quicker and added acceptable for consumers as they do not charge to accommodate concrete documents. It about takes up to a anniversary for new-to-bank barter to accept their acclaim agenda or accretion admission to Cashline.
Back-end operations such as know-your-customer processes are additionally automated, while affair MAS (Monetary Authority of Singapore) acquiescence standards, DBS said.
To use this service, barter can abide an online appliance via DBS/POSB Internet cyberbanking or the bank’s websites, area they will be prompted to use MyInfo by logging in to their SingPass accounts. Upon consent, MyInfo will retrieve claimed abstracts from accordant government agencies to pre-populate accordant fields such as a customer’s name, abode and Notice of Assessment.
“Our focus actuality at DBS is to ensure barter can admission our casework with minimum fuss – MyInfo allows us to do this after compromising on quality, acceleration and accuracy,” said Jeremy Soo, arch of customer cyberbanking accumulation (Singapore) at DBS Bank.
“MyInfo acceptance has been rapidly accretion back the account was alien in March 2017. Today, one in four DBS/POSB barter will use MyInfo for online appliance casework back accustomed the option, and we apprehend this to access with our latest acclaim agenda and DBS Cashline capabilities. We attending advanced to rolling out added casework with MyInfo by the end of this year.”
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