Singapore’s digital identity application, Singpass is used by 5 million users, with 90% of them transacting via the mobile application. With a high adoption rate nationwide, the Singpass mobile application is no longer a foreign application but one that is widely recognized and highly useful for personal and corporate transactions.
Myinfo which is a feature of Singpass that enables customers to fill out digital forms for financial transactions and official services using their personal information obtained from government databases, facilitates about 300,000 transactions per day1. In this article, we explore how Singpass integration facilitates business growth for certain industries like healthcare, e-commerce, and financial institutions.
The healthcare industry is a fundamental pillar of any society, and Singapore is no exception. Singpass enables individuals and businesses to access various healthcare services with ease, fostering efficiency and promoting growth. For example, Singpass integration enables healthcare providers to securely access and update patients' electronic health records, ensuring seamless collaboration and better patient care. This streamlines processes, reduces paperwork, and enables quick retrieval of medical information.
Another way Singpass supports business growth in the healthcare sector is by verifying patient identities online for more efficient virtual consultations. Singpass integration allows healthcare providers to verify patient identities online, ensuring secure and confidential consultations. This empowers healthcare businesses to schedule appointments more efficiently, reduce manual administrative tasks and streamline operations.
E-commerce has witnessed significant and accelerated growth in Singapore, and Singpass plays a vital role in empowering businesses to ensure secure online transactions. For instance, businesses benefit from streamlined customer registration as Singpass simplifies the registration process for e-commerce platforms. Businesses can leverage Singpass as a secure verification method, allowing customers to sign up and login seamlessly. This reduces friction in the onboarding process, leading to increased customer acquisition and an improved user experience.
Learn more: Secure and Seamless Digital Experience with Singpass Integration
By leveraging Singpass, businesses can authenticate user identities with a high level of assurance. This not only protects user accounts but also safeguards sensitive information such as payment details and personal data. Thus, the integration of Singpass into e-commerce platforms instills trust in customers, leading to increased confidence in online transactions and higher conversion rates, boosting revenue generated.
Singapore's robust financial sector relies on secure and efficient digital authentication systems. Singpass serves as a crucial tool in this industry, enabling businesses and consumers to engage in seamless and safe interactions. Notably, Singpass provides a secure authentication framework for online banking services, bolstering the security of financial transactions. Customers can access their bank accounts, perform transactions, and manage investments securely, fostering business growth for financial institutions through increased customer engagement and trust.
Furthermore, Singpass allows financial institutions to offer a wide range of digital services, such as loan applications, insurance purchases, and investment management. By integrating Singpass, businesses can streamline their processes, enhance the customer experience, and expand their digital service offerings. With Singpass features like Myinfo, a user can be onboarded during registration in a matter of minutes. For instance, customers of a robo-advisor platform, Endowus, can retrieve their personal information within seconds with Singpass during onboarding. As a result, this saves Endowus a huge amount of time processing customers’ personal information as it is now captured digitally. Fewer human errors are expected too, as Endowus can do away with the manual filling up of forms by customers while registering an account.
With the above discussed, Singpass integration is a key consideration for your business needs. Adnovum helps your organization efficiently integrate with Singpass with our Secpass solution. Secpass is a cost-effective and one-stop integration solution for Singpass developed by Adnovum, which can be scalable to your business. Secpass uses OpenID Connect (OIDC), one of the most recent open standards, for authentication. Additionally, we adopt the best practices for enhancing system security.
Whether it is healthcare, e-commerce, or financial institutions, Singpass provides a secure and convenient digital identity solution, empowering businesses to offer seamless services to their customers. Contact Adnovum’s team of specialists today to integrate your business with Singpass.
📩 Sign up for our newsletter and gain access to exclusive executive insights and event invitations.
Reference: