The Association of Banks in Singapore (ABS) has announced that banks will cease using NRIC numbers for authentication by 1 January 2027, in compliance with advisories from the Personal Data Protection Commission (PDPC) and the Monetary Authority of Singapore (MAS). This move aims to enhance security and privacy in financial transactions.
Currently, NRIC numbers are not used for most financial transactions such as payments and funds transfers, which require multi-factor authentication. However, some banks still use NRIC numbers for non-transactional purposes, like opening encrypted email attachments. These banks will transition to alternative authentication methods in the coming months.
Ong-Ang Ai Boon, Director of ABS, stated, “Banks are committed to phasing out the use of NRIC numbers for authentication, in line with advisories from PDPC and MAS.”
The PDPC’s directive, issued on 2 February 2026, mandates that organisations stop using NRIC numbers for authentication by the start of 2027. This initiative is part of a broader effort to protect personal data and enhance cybersecurity measures across various sectors.
ABS, established in 1973, represents over 150 local and foreign banks in Singapore. It plays a crucial role in promoting the interests of the banking community and works closely with government authorities to develop a robust financial system in Singapore. More information about ABS can be found on their website.
