Biometrics for KYC in Singapore: Strengthening Digital Identity Verification

A Report by CYS Global Remit Legal & Compliance Office     

As Singapore strengthens its position as a smart financial centre, the need for secure, seamless, and scalable customer onboarding has become paramount. In this digital-first era, biometric technology is emerging as a powerful enabler of electronic Know Your Customer (e-KYC) processes — helping financial institutions comply with regulatory expectations while enhancing the user experience. 

With the Monetary Authority of Singapore (MAS) introducing progressive digital onboarding guidelines, biometric KYC is gaining rapid traction across banks, fintechs, and Major Payment Institutions (MPIs). This blog explores how biometrics is transforming KYC, its alignment with MAS regulations, its benefits, limitations, and what institutions must consider moving forward. 

What is Biometrics in KYC? 

Biometrics refers to the use of unique physical or behavioural traits — such as facial recognition, fingerprint scans, iris patterns, or even voiceprints — to identify and verify individuals. 

In the context of KYC, biometric technology is used to: 

• Confirm that the customer is who they claim to be 

• Detect identity fraud attempts (e.g., impersonation or document tampering) 

• Enable secure, real-time digital onboarding 

Purpose: Utilization Biometrics for KYC 

Singapore’s financial sector is seeing increased adoption of remote onboarding, supported by MAS’s 2020 Notice 626 (Prevention of Money Laundering and Countering the Financing of Terrorism) and subsequent Digital Onboarding Guidelines. The purpose of integrating biometrics into KYC includes: 

• Fulfilling regulatory KYC/CDD obligations while enabling fully digital account opening 

• Reducing operational costs and manual verification delays 

• Mitigating document-based fraud by verifying the customer’s physical presence and identity