HSBC Singapore launches instant digital bank registration via SingPass | Asian Banking & Finance

HSBC Singapore launches instant digital bank registration via SingPass

Customers need only to input their SingPass credentials in order to open an online account.

HSBC Bank (Singapore) has launched an instant digital banking registration solution using SingPass log-in details, according to a press release.

Rolled-out on 30 March 2021, the new service is part of HSBC’s suite of mobile-first banking and wealth enhancements introduced in 2020.

“The future of wealth is about blending the best of technology with the expertise of people to deliver a seamless wealth management and financial planning experience,” said Anurag Mathur, head, wealth and personal banking, HSBC Bank (Singapore). “Since we accelerated the pace of our digital banking transformation in 2020, we have seen tremendous growth in mobile banking adoption amongst our customers.”

The bank touts this as Singapore’s first instant digital banking registration uses SingPass authentication. HSBC is also the first foreign bank in Singapore to enable customers to register for digital banking access using their SingPass login credentials.

New customers in Singapore can register for digital banking once they open a new account via the HSBC Singapore website or apply for a new HSBC credit card via the HSBC Singapore app.

For existing HSBC customers, they only need to download the banking app to register, without the need for a card and PIN.

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