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New Singapore Shares
Ministry of Finance
New Singapore Shares eServices Launched in 3 weeks

Three weeks after Prime Minister Goh Chok Tong announced on 19 August 2001 the New Singapore Shares (NSS) as part of the Singapore Government's off-budget measures, Singaporeans were able to check how many shares they were allotted and to encash their shares – online and in real-time.

It would have taken at least six months to develop any transactional e-Government service given the many key challenges faced.

Firstly, the government has set a very aggressive dateline of less than 3 months to ensure that eligible Singaporeans were provided with a convenient way to check their share allotment in real-time and to instruct the Central Provident Fund Board (CPFB) to exchange their NSS for cash.

Secondly, in order for government agencies to build transactional eServices, they need to integrate the eServices to disparate data sources and services across different government agencies. This integration process using traditional methods is tedious and requires a lot of time, skilled expertise and resources.

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