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FINANCIAL technology firm DC Frontiers, developer of the Handshakes relational data analysis app, has launched a tool for access to timely and accurate information on shareholders of companies.
The tool, developed with the support of the Singapore Association of the Institute of Chartered Secretaries and Administrators (SAICSA) and powered by data from the Accounting and Corporate Regulatory Authority (Acra), could be the first of such mechanism available in Singapore and Asia, said DC Frontiers.
The Handshakes application provides access in a "single click" to information on legal ownership interest of companies versus having to purchase multiple reports to extract and collate such information.
"Our application was developed to provide easy and reliable access to relationship information between persons and companies," said DC Frontiers founding director Daryl Neo, in a statement.
"This new tool enhances our product suite to increase the effectiveness and efficiency of users for conducting such searches on ownership information that traverse documents and also countries," he added.
It also supports wider efforts to promote greater transparency, said SAICSA chief executive Grace Tan.