Safer, More Convenient Business Transactions with a Corporate Digital Identity
The acceleration of digital transformation within Singapore’s business environment has prompted the Government to develop business-centric and trusted services that enhance corporate digital transactions. This has given rise to Singapore’s Corporate Digital Identity (CDI) platform, which comprises government digital services that facilitate G2B, B2B, and B2C transactions, and are safe and convenient for businesses to adopt.
A single corporate digital identity for business users, similar to an individual’s personal identity, is a business’ unique digital attribute that is used to verify its identity during online transactions. For businesses, a corporate digital identity allows for secure and reliable transactions with government agencies, customers, and other businesses without the need for physical verification and tedious administrative processes such as form filling.
Corppass is an authorisation system used by over 550,000 participating businesses, non-profit organisations and associations to manage the digital service access of their employees and conduct corporate transactions digitally in a secure manner. With Corppass, businesses can transact with government agencies online for over 250 digital services such as applying for trade licenses and businesses grants, the filing of corporate taxes, and much more!
Business users leveraging Corppass benefit from utilising a single platform to grant and manage the corporate access given to their employees for digital services that the business engages in. The diversity of Corppass roles that businesses can grant employees allows employees to conduct specialised and separate transactions on behalf of the business such as filing of corporate tax, application for permits and licenses. At the same time, business owners enjoy greater control and visibility of these transactions.
Corppass is aligned to Singapore’s Smart Nation objectives and the Government’s aim to create secure and reliable digital services for citizens and businesses.
Myinfo business is a service that enables businesses to consent to the sharing of their corporate and applicants’ personal data securely with other participating businesses for more seamless digital transactions.
Through Myinfo business, business users can pre-fill digital forms with entity data from government sources, such as a company’s corporate profile, financial performance, and ownership information, for simpler online transactions including opening corporate utility accounts or applying for business loans online. This has resulted in less repetitive form filling, a lower incidence of mistakes arising from human error, and a reduced need for physical verification of supporting documentation for online transactions.
Myinfo business has powered over 190 digital services, facilitated an average of over 500,000 monthly transactions for the public and private sectors and serviced more than 120 Government-to-Business (G2B) digital services. Currently, more than 60 private sector digital services have been onboarded to Myinfo business.
Find out more about our digital identity services for businesses here:https://www.tech.gov.sg/singapore-digital-government-journey/digital-identity/safer-more-convenient-business-transactions-with-a-corporate-digital-identity