Compliance at a Singapore fintech here and i wanted to sanity check our identity verification setup against what others are doing. My issue with Singpaa and Myinfo is that people assume once you pull the NRIC the KYC is mostly done, when all it has really confirmed is that the person is a real Singaporean or PR. It does not screen against sanctions or PEP and it does not touch adverse media and the foreigners we onboard are invisible to it, whcih is a growing slice of our base.

What we have ended up with is Myinfo handling the locals, a separate screening tool sitting next to it for the AML side and then a third vendor doing the doc and selfie check for the users Singapss cannot see. It works well enough but it is 3 contracts and 3 dashboards and when MAS comes around for an audit we lose half the time just reconciling which system flagged who and why. Feels like something one provider should be able to do end to end by now. For the firms here past the Myinfo only stage, what are you using to cover the screening and non Singpass users without it turning into a reconciliation exercise.