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MAS: Commits $42m to spur adoption of technology solutions

May 2, 2021

MAS at the forefront of Singapore’s rapidly growing financial industry, creating new policies and initiatives that address the ever-changing landscape
Announced a new RegTech grant scheme and an enhancement of the DAG scheme to accelerate technology adoption in the financial sector
MAS commit $42 million for the RegTech grant scheme and enhanced DAG scheme
The RegTech grant scheme available to Singapore-based financial institutions (FIs), aims to promote the adoption and integration of technology solutions
Through the production level project track, FIs seek funding to develop larger-scale customised projects
Both tracks used to support either in-house development or commercial partnerships with RegTech firms based in Singapore