Monetary Authority of Singapore - News, Articles & Research

Singapore fines banks for AML breaches in Wirecard affair

Singapore has slapped three banks and an insurer with fines for anti-money laundering breaches connected with the Wirecard scandal.

22 June 2023

Company announcement/startups

MAS launches AI in Finance Challenge for the 2023 Global FinTech Hackcelerator

The Monetary Authority of Singapore (MAS) today launched the 8th edition of the Global FinTech Hackcelerator, titled “Artificial Intelligence (AI) in Finance Global Challenge”, to produce innovative and market-ready AI solutions that can transform the financial services industry.

12 June 2023

Company announcement/startups

AI to take centre stage at Singapore Fintech Festival

The Monetary Authority of Singapore (MAS) and Elevandi today announced the theme of the Singapore FinTech Festival (SFF) 2023 – ‘Applications of Artificial Intelligence (AI) in Financial Services’.

01 June 2023

News/cloud

MAS and Google Cloud collaborate on generative AI

The Monetary Authority of Singapore is to work with Google Cloud to explore potential use cases for generative AI.

31 May 2023

Company announcement/regulation

MAS launches AI and data analytics talent programme

The Monetary Authority of Singapore (MAS) today launched the Financial Sector Artificial Intelligence and Data Analytics (AIDA) Talent Development Programme.

22 May 2023

News/crypto

NY Fed and MAS find promise in CBDC for cross border payments

Distributed ledger technology can be used for cross-border, cross-currency payments between different CBDC ledgers, reducing settlement risk and cutting settlement time, according to research from the Monetary Authority of Singapore and the Federal Reserve Bank of New York.

22 May 2023

News/regulation

MAS lifts DBS capital requirement following wave of outages

The Monetary Authority of Singapore (MAS) has imposed additional capital requirements on DBS, following widespread outages in March and a subsequent disruption to its digital banking and ATM services earlier this month.

11 May 2023

Company announcement/security

US Treasury and MAS conduct cross-border cybersecutiry exercise

The United States Department of the Treasury and the Monetary Authority of Singapore (MAS) have been expanding its collaboration on cybersecurity and operational resilience issues since Vice President Kamala Harris announced the formal partnership and finalization of a bilateral Memorandum of Understanding (“MoU”) on Cybersecurity Cooperation between Treasury and Singapore’s MAS in August 2021.

02 May 2023

Company announcement/retail

MAS launches fintech grant scheme for Singpaore's universities

The Monetary Authority of Singapore (MAS) today announced the launch of the Polytechnic Talent for Finance Scheme to encourage financial institutions to hire and train polytechnic students and graduates.

24 April 2023

Company announcement/startups

Rwanda and Singapore to run inclusive fintech forum

Kigali International Financial Centre (KIFC), Rwanda’s financial centre facilitating international investment and cross-border transactions in Africa, and Elevandi (www.Elevandi.io), a company set up by the Monetary Authority of Singapore (MAS) to advance FinTech in the digital economy, today announced the launch of the first annual Inclusive FinTech Forum, to be held from 20 to 22 June in Kigali, Rwanda.

05 April 2023

Company announcement/cloud

Monetary Authority of Singapore hosts inaugural Financial Sector Cloud Resilience Forum

The Monetary Authority of Singapore (MAS) yesterday hosted the inaugural Financial Sector Cloud Resilience Forum (Forum) for Asia Pacific financial regulators and Cloud Service Providers (CSPs) to exchange views on appropriate public cloud risk management practices for the financial sector.

05 April 2023

News/payments

Singapore and Malaysia launch cross-border QR-code merchant payments

Singapore and Malaysia have linked their payment systems, enabling shoppers to make purchases across borders by scanning QR codes.

31 March 2023