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Banks, Insurers See More Customers Using SGFinDex for Financial Planning
The Straits Times
|March 08, 2025
More than 400,000 people used the service in 2024, up from 120,000 in 2021
More people here are using the Singapore Financial Data Exchange (SGFinDex) to get a clearer picture of where their money is and what it is doing.
More than 400,000 people used the service in 2024, marking a steady increase from the 120,000 who used it in 2021.
SGFinDex, which was launched in December 2020, allows individuals to use their Singpass to retrieve personal financial information such as deposits, insurance policies and Central Provident Fund (CPF) balances from different institutions and consolidate it for a comprehensive view of their portfolios.
There are now seven banks, seven insurers and SGX-CDP participating in SGFinDex. SGX-CDP is a holding account for all the securities an individual has bought in the Singapore market.
Participating financial institutions are also reaching out to their customers to promote the use of SGFinDex, said the Monetary Authority of Singapore (MAS).
Ms Ng Lee Peng, OCBC's head of digital business for Singapore, told
This story is from the March 08, 2025 edition of The Straits Times.
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