UOB launches pilot for customers to sign electronic documents via Singpass (Channel News Asia)
UOB has launched a pilot to allow customers to sign electronic documents via their Singpass app, said the bank on Thursday (Jun 10).
Under an initial 12-month pilot, the bank said it will first test the use of electronic signature services “with a set of its retail and corporate customers”.
"Some of the transactions the pilot will cover include forms for individual wealth planning services and the PayNow Corporate application," said UOB in the media release.
After the pilot ends, the service will extend to more of its products and services for retail and wholesale segments in Singapore.
“The bank also plans to expand its electronic signature capability to the region from 2022,” it said.
Once rolled out across all markets, electronic signatures will cut down the use of more than 2 million paper forms a year, UOB said.
For markets without a national digital identity platform, the bank will use electronic signatures and authenticate the customer through two-factor authentication.
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