MAS encourages digital reporting through new grant
Firms can claim up to S$250,000 to implement new technology but only from pre-approved firms
The Monetary Authority of Singapore is offering small financial institutions access to funding to help integrate new forms of technology to digitise reporting processes.
In a statement, the central bank announced it was making S$35 million ($26 million) available to firms to help them adapt reporting frameworks. Firms with fewer than 200 employees are eligible for the grant.
The implementation of new technology “will facilitate more efficient processes for the preparation and submission of
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