Know Your Customer (KYC) and Ongoing Due Diligence
Digitalising and automating the compliance processes can effectively identify and mitigate financial crime.
Detection of Suspicious Activities
To enable automated regulatory reporting through data analytics to minimise data errors and increase efficiency.
To effectively detect, evaluate and mitigate compliance and regulatory risks.
To digitalise the case management for risk and compliance functions and create a historical record of actions performed on the system for record-keeping purposes.
Singapore FinTech Association (SFA) RegTech Subcommittee
The SFA RegTech Subcommittee aims to promote the invention and adoption of technologies to achieve better regulatory outcomes in Singapore. Click to find out more about the Singapore RegTech Landscape and get to know the SFA's RegTech Members.
At the RegTech Summit APAC Virtual conference, Mr Damien Pang, Executive Director of Data & Technology Architecture, spoke about the key perspectives that RegTech firms and financial institutions need to embrace so as to spur the adoption of useful technologies and innovation in compliance and risk management.
Singapore, 30 April 2021… The Monetary Authority of Singapore (MAS) announced today a new Regulatory Technology (RegTech) grant scheme and an enhancement of the Digital Acceleration Grant (DAG) scheme to accelerate technology adoption in the financial sector. MAS will commit $42 million for the RegTech grant scheme and...