1. Production Level Project Track
This track supports RegTech solutions that are designed and developed from scratch or Commercial-Off-The-Shelf (“COTS”) solutions that are customised to suit the operating environment of the financial institution.
Grant criteria | Details |
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Applicant Eligibility |
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Project Eligibility |
Qualifying solutions must:
(a) KYC/AML/CFT/Identity Management; (b) Regulation and Policy Management; (c) Data Monitoring and Surveillance; (d) Risk Management Tools; (e) Regulatory Reporting; (f) General Compliance and Regulation Tools; or (g) Compliance or Risk Management related projects in collaboration with MAS.
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Funding Support |
50% of qualifying expenses, capped at $300,000 Up to 18 months from project commencement date |
Qualifying Expenses |
Qualifying expenses are limited to:
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How to Apply |
Interested parties may further engage MAS to discuss their proposed project ideas. Applicants should formally submit their applications 3 months before project commencement to facilitate project discussions and processing of application. Please download the application form here (81.8 KB). |
2. Pilot Track
This track supports quick prototyping of RegTech solutions to test feasibility of such solutions to achieve the expected outcomes of the use-case. Financial institutions can subsequently tap on the Production Level Project Track to develop the solution further so that it can be deployed in a production environment.
Grant criteria | Details |
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Applicant Eligibility | All Singapore-based FIs regulated by MAS |
Project Eligibility |
Qualifying solutions must:
(a) KYC/AML/CFT/Identity Management; (b) Regulation and Policy Management; (c) Data Monitoring and Surveillance; (d) Risk Management Tools; (e) Regulatory Reporting; (f) General Compliance and Regulation Tools; or (g) Compliance or Risk Management related projects in collaboration with MAS. |
Funding Support |
50% of qualifying expenses, capped at S$75,000 for Singapore based FIs with more than 200 staff 70% of qualifying expenses, capped at S$75,000 for Singapore based FIs with not more than 200 staff
Up to 12 months from pilot commencement date |
Qualifying Expenses |
Qualifying expenses are limited to:
|
How to Apply |
Interested parties may further engage MAS to discuss their proposed project ideas. Applicants should formally submit their applications 3 months before project commencement to facilitate project discussions and processing of application. Please download the application form here (83.9 KB). |