Strengthening cybersecurity in finance between US and Singapore

The United States Department of the Treasury and the Monetary Authority of Singapore join to combat. The United States Department of the Treasury (“Treasury”) and the Monetary Authority of Singapore (“MAS”) announced the finalisation of a bilateral Memorandum of Understanding (“MoU”) on Cybersecurity Cooperation. This announcement was made during Vice…

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MAS want FIs to adopt data analytics appropriate to the business

By Loo Siew Yee assistant MD (Policy, Payments & Financial Crime) at MAS. Technology can be a powerful enabler in the fight against money laundering. The right solutions support financial institutions, and I will refer to them as FIs, to more sharply and quickly detect higher risk customers and activities,…

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BIS Innovation Hub and MAS pushes out global real-time retail payments network connectivity

Model builds on successful connection of Singapore and Thailand’s national payment networks. The Bank for International Settlements Innovation Hub Singapore Centre and the Monetary Authority of Singapore (MAS) today published a proposed blueprint for enhancing global payments network connectivity via multilateral linkages of countries’ national retail payment systems. Titled Project Nexus ,…

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MAS completes digital cross-border payments with Banque de France

Experiment was supported by J.P. Morgan’s Onyx. The Monetary Authority of Singapore (MAS) and Banque de France (BdF) have completed a wholesale cross-border payment and settlement experiment using central bank digital currency (CBDC). The experiment was supported by J.P. Morgan’s Onyx, simulated cross-border transactions involving multiple CBDCs (m-CBDC) on a…

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Data and technology for climate action

Ravi Menon managing director at the Monetary Authority of Singapore talks about data and climate change. The demand for trusted data will only grow as regulators strengthen reporting and disclosure requirements.  Yet, the availability of good data remains a big challenge. The process of ESG data acquisition is manual, cumbersome…

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MAS commits S$42m to spur tech adoption in the financial sector

Aiming to promote the adoption and integration of technology solutions in the risk management and compliance functions of FIs. The Monetary Authority of Singapore (MAS) announced today a new Regulatory Technology (RegTech) grant scheme and an enhancement of the Digital Acceleration Grant (DAG) scheme to accelerate technology adoption in the…

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MAS continues to monitor the growth of cryptocurrency in Singapore

Will continue to adapt its rules as needed to ensure that regulation remains effective. The Monetary Authority of Singapore is keeping a close on the growth of cryptocurrency transactions of such assets among companies and retail investors in the country. Tharman Shanmugaratnam senior minister and minister in charge of MAS…

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The technologies transforming the finance sector

Jacqueline Loh deputy managing director Monetary Authority of Singapore talks about innovation. Innovation is transforming the financial sector. Digitalisation of financial services has made it easier for financial institutions to expand their global footprint, opened the door to new players, and set the stage for increasing cross-border connectivity. The adoption…

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