DBS Bank Integrates MyData Platform to Speed Digital Loan Reviews

Taiwan’s Ministry of Digital Affairs operates the MyData platform, which allows individuals to authorize financial institutions to access their personal data and reduces the need to repeatedly submit salary or financial documents when applying for personal loans. DBS Bank (Taiwan) has integrated the service with its intelligent review system to shorten credit assessment and approval times, reduce document exchanges and give customers control over the use of their personal data.

DBS Bank (Taiwan) most recently announced that it had completed its integration with the MyData platform. Personal-loan applicants can authorize the bank to retrieve the required information instead of preparing their own proof of financial resources, while existing cardholders can receive approval in as little as 15 minutes. Available information does not specify the announcement date, loan amounts or interest rates, and actual credit limits remain subject to individual review.