As financial firms across Singapore continue their strong growth, managing compliance effectively brings increased challenges.
The MAS Regulatory Technology Grant is open now, and applicants are advised to submit their requests 3 months in advance of projects commencing.
The Monetary Authority of Singapore (MAS) launched its inaugural Regulatory Technology (“RegTech”) Grant scheme.
The scheme helps Singapore-based financial firms (regulated by MAS) to enhance their risk management and compliance functions by leveraging technology solutions.
The RegTech Grant has two tracks: 1. Production Level Project and 2. Pilots.
1. Production Level Project Track
This track enables firms to apply for 50% of qualifying expenses, capped at $300,000 with timing spanning up to 18 months from project commencement date.
1. Pilot Track
This track enables firms to apply for 50% of qualifying expenses, capped at $75,000 for >200 staff OR
75% for <200 staff with timing spanning up to 12 months from project commencement date.
Common RegTech Outcomes
MyComplianceOffice (MCO) has enabled more than 1300+ firms in 105 countries with our risk management and compliance solutions.
We've helped clients in Singapore and across the globe see outcomes including:
Customers using our RegTech solutions cut down the time needed to manage risk and compliance tasks.
RegTech solutions replace manual applications like Sharepoint and Excel to streamline compliance management.
MCO's powerful dashboards give compliance officers and managers a bird's eye view of all activity.
More tasks and transactions can be processed without increasing staff numbers, boosting overall capacity.
The Benefits of Implementing a RegTech Solution
What Are Customers Saying About MCO Compliance Management Suite?
- Understanding the many forms of compliance risk
- Driving more than “tick-box compliance”
- Dealing with cross-border compliance complexities
- Empowering company-wide compliance through RegTech solutions
Alternatively, request your no-obligation demonstration of MCO.
Discover how we can help you automate your compliance management, stay ahead of evolving regulations, and gain complete confidence in your risk reduction strategy.