Understanding CorpPass and its role in corporate transactions

identity and access management services The newly launched corporate digital identity in Singapore, Corporate Pass or CorpPass is a revolutionary system that aims to change the way companies handle digital transactions with the government. With the CorpPass, a business organisation no longer needs to use their own SingPass account in order to perform transactions such as applying for trade licenses and business grants. It becomes simpler to separate the personal transactions from the corporate ones. Here are a few pieces of important information about the CorpPass.

CorpPass provides enhanced digital security to all Singaporeans

Previously, all employees would need to log in to their SingPass account to perform corporate transactions. This actually posed a threat to the digital security of their corporate information, as hackers would be able to perform corporate transactions as long as they could log in using an individual’s SingPass. Employees who go on leave no longer need to leave behind their SingPass details in order for their colleagues to proceed with the work they need to do. The switch to CorpPass thus provides an added layer of security – hackers can only perform corporate transactions if they have an individual’s CorpPass account, which is now distinct and separate from their SingPass account.

CorpPass has been equipped with the same features as SingPass. Most importantly, it requires the same 2-Factor Authentication (2FA) that SingPass does. This means that, in addition to their own username and password, an individual needs to access a One-Time Password (OTP) on their phone to log in and use CorpPass services. This makes CorpPass even more secure to perform transactions with a large institution such as the Singapore government.

CorpPass is the new government standard for accessing digital services

Over 130 government organisations now use CorpPass as their main login method. This has set the direction that the government has taken towards further improving the efficiency of all businesses. Many transactions, such as filing corporate tax and applying for permits and licenses, now can be done online, meaning that businesses no longer have to waste time in long queues to get their work done.

Government boards and systems are now working on fully integrating CorpPass with all of their systems. To do that, they may take some time to find a suitable identity and access management (IAM) solution to integrate CorpPass into their systems. All 200 e-government services are projected to implement CorpPass by the end of 2018. Any other services rolled out by the government in the future will incorporate CorpPass too. As such, it is extremely important for businesses to create their CorpPass account as soon as possible, so as to minimize any inconvenience they may face in the future.

Conclusion

Future-forward Singapore is moving towards creating the most optimal ways for businesses to access and perform government services. CorpPass is just one of the many big steps the government has taken in order to ensure the high productivity of the country. Large corporations are also following the footsteps of the government by optimizing their processes. It is with this mindset that companies implement website security services such as IAM and 2FA into various systems that they use. The times have become exciting for businesses as they transition into a truly digital age.