Regulatory Technology (RegTech)
"Upholding values, attitudes and behaviours that protect the interests of our customers is crucial for continued trust and confidence in Singapore’s banks."
New Industry Steering Group to Elevate Culture and Conduct Standards for Banking Industry
Use Cases of RegTech

Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT)
High risk AML/CFT cases can be used to train machine learning algorithms to identify potential future cases.

Detection of Suspicious Activities
Cognitive computing and behavioural algorithms can be used to detect suspicious activities and possible misconduct.
MAS Initiatives
RegTech 101

Positioning Regulation for Technological Innovation
Technology is transforming financial services and increasing the need for novel approaches in regulation that will promote the safe and responsible application of these technologies without stifling innovation.

Enhancing surveillance and compliance with RegTech
An increasing number of regulators and RegTechs are leveraging on technology to enhance the efficiency and effectiveness of surveillance and to boost compliance.

Risks in RegTech
Although RegTech provides opportunities in reducing risks, RegTech service providers must be cautious about potential technology risks of their solutions e.g. cyber criminals stealing customer information.
Benefits of RegTech

Sharpen Surveillance and Understanding of Risks
RegTech can leverage on data analytics to sharpen the surveillance and understanding of different risks, and to support more effective decision-making.

Enhanced Cybersecurity
RegTech can be used to strengthen cyber security across the financial industry to make it safer to use new technologies and instil confidence in consumers.