Standard Chartered, the UK headquartered bank with a large footprint in Asia, is supportive of kyc.com and in the process of joining the service.
Banks are increasingly using trusts or asset management plans to lend and recording them as funds to be received rather than as loans, which are subject to stricter regulatory oversight and capital limits.
Mr Tan had initially sued UBS for more than $133 million, but in the course of the trial, he dropped the claim to $33 million.
Top recruiting firms say the three local banks - DBS, UOB and OCBC - stand on strong fundamentals and are not expected to resort to the drastic staff reduction measures taken by many big global lenders.
It is alleged that RBS Coutts in Zurich, which is owned by RBS, is one of the banks that had transferred the state fund's money out of Malaysia.