Monetary Authority of Singapore - News, Articles & Research

Company announcement/regulation

Singapore central bank reports successful first phase of ethical AI project

The Monetary Authority of Singapore (MAS) today announced the successful conclusion of the first phase of the Veritas initiative which saw the development of the fairness assessment methodology in credit risk scoring and customer marketing.

06 January 2021

News/retail

Singapore builds platform that lets people consolidate financial data

Singapore has launched a data exchange platform that lets people on the island consolidate their financial information held across different government agencies and banks.

08 December 2020

News/regulation

Singapore doles out four digital bank licences

The Monetary Authority of Singapore has awarded full virtual banking licences to a Grab-Singtel consortium and tech giant Sea, and digital wholesale bank licences to Ant Group and a coalition comprising Greenland Financial Holdings Group, Linklogis Hong Kong, and Beijing Co-operative Equity Investment Fund Management.

04 December 2020

News/payments

Singapore opens faster payment plumbing to non-banks

The Monetary Authority of Singapore is to inject further competition into the market for payment services by opening up direct access to the nation's real-time payment plumbing to non-bank financial institutions (NFIs).

30 November 2020

Company announcement/startups

MAS announces 20 finalists for the 2020 Global FinTech Hackcelerator

The Monetary Authority of Singapore (MAS) announced today the 20 finalists for the 2020 Global FinTech Hackcelerator.

25 November 2020

Company announcement/identity

MAS consults on ID verification

The Monetary Authority of Singapore (MAS) today issued a consultation paper on the types of information required for non-face-to-face verification of an individual’s identity.

10 November 2020

Company announcement/security

Singaporean financial institutions ordered to review security controls in light of Covid-19

The Monetary Authority of Singapore (MAS)'s Cyber Security Advisory Panel (CSAP) [1] stressed the need for financial institutions (FIs) to review their security controls given the elevated technology-related risks arising from remote working and safe management measures due to the COVID-19 pandemic.

10 November 2020

Company announcement/regulation

MAS launches $35 million grant to help smaller banks streamline regulatory reporting

The Monetary Authority of Singapore (MAS) announced today the launch of a S$35 million Productivity Solutions Grant (PSG) for the financial services sector to help smaller financial institutions adopt digital solutions for more streamlined data reporting to MAS.

09 November 2020

News/crime

MAS to stop issuing $1000 note

The Monetary Authority of Singapore (MAS) is to discontinue the issuance of large denomination $1,000 notes in an effort to curb money laundering.

03 November 2020

News/sustainable

Big banks give backing to Singapore Green Finance Centre

The Monetary Authority of Singapore and nine international banks have leant their weight to the establishment of a research institute dedicated to green finance research and talent development.

13 October 2020

News/regulation

Singapore shuts down Wirecard operations

Singapore's central bank has ordered Wirecard to cease all business and return all customer funds within the next two weeks.

30 September 2020

Company announcement/startups

MAS doubles down on fintech innovation support

The Monetary Authority of Singapore (MAS) today announced that it will commit S$250 million over the next three years under the enhanced Financial Sector Technology and Innovation Scheme (FSTI 2.0) to accelerate technology and innovation-driven growth in the financial sector.

13 August 2020