Singapore banks are moving to phase out the use of NRIC numbers for authentication, following advisories from the Personal Data Protection Commission and the Monetary Authority of Singapore.

Ong-Ang Ai Boon, Director of the Association of Banks in Singapore, said NRIC numbers cannot be used on their own to carry out financial transactions such as payments and fund transfers, as these activities already require multi-factor authentication.

She added that most banks no longer rely on NRIC numbers for non-transactional purposes, including accessing encrypted email attachments.

Banks that still use NRIC numbers in such cases will shift to alternative authentication methods over the coming months.

The update follows a media release by the Personal Data Protection Commission on 2 February, which said organisations are required to cease using NRIC numbers for authentication by 1 January 2027.

Featured image: Edited by Fintech News Singapore, based on images by mrsiraphol and muravev via Freepik