Productivity Solutions Grant (PSG)
ARTEMIS, our globally trusted KYC/AML Solution, is now listed as a Pre-Approved Digital Solution for PSG by Infocomm Media Development Authority (IMDA).
Eligible companies can get up to 80% funding support from PSG. The PSG supports companies keen on adopting IT solutions and equipment to enhance business process automation and digitisation.
+ SkillsFuture Enterprise Credit (SFEC)*
is also available!
Companies that are eligible for SFEC will be able to receive additional funding support on top of PSG, providing companies up to 98% funding support in total.
*Check your company's eligibility for SFEC here.
Our Pre-Approved Packages
ELIGIBILITY FOR PSG
SMEs can apply for PSG if they meet the following criteria:
Registered and operating in Singapore
Purchase/lease/subscription of the IT solutions or equipment must be used in Singapore
Have a minimum of 30% local shareholding
Company's Group annual sales turnover is less than S$100 million, or has less than 200 employers (for selected solutions only)
An initiative of:
In support of:
Monetary Authority of Singapore
Digital Acceleration Grant (DAG)
Our KYC/AML Solutions are eligible for MAS DAG funding support.
Covering 80% of qualifying expenses (up to a cap of S$120,000) by the DAG, the scheme aims to assist Singapore-based smaller Financial Institutions (FIs) and FinTech firms to improve productivity, strengthen operational resilience, manage risks better, and serve customers better.
DAG - INSTITUTION PROJECT
Singapore-based FIs regulated by MAS (licensed or exempted from licensing), with not more than 200 employees
Singapore-based FinTech firms certified by the Singapore FinTech Association, with not more than 200 employees
DAG - INDUSTRY PILOT
Applicants should be Singapore-based FIs that are regulated by MAS (licensed or exempted from licensing), with headcount not more than 200 staff
Each project should have a minimum of 3 participating, eligible FIs
Here's A Little Something About Regulatory Technology (RegTech)
Regulatory Technology, RegTech in short, is the application of emerging technology to improve the way businesses manage regulatory compliance.
Regulations and policies have been constantly changing at an unimaginable pace and it is challenging for companies to keep up with the latest regulations and requirements. By leveraging on technology, companies will be able to simplify compliance, achieve regulatory advantage, and overcome the regulatory burden that they face in this day and age.
Monetary Authority of Singapore (MAS) has pushed through several initiatives as part of their continuous effort to better position Singapore as a Smart Financial Centre through Financial Technology (FinTech) and Innovation. Amongst the various MAS Initiatives includes the featuring of Cynopsis Solutions as a prime example of a Full Case Management Tool to Manage End-to-End Customer Onboarding Process.
Click here to learn a little more about FinTech and Innovation, and the initiatives introduced by MAS to help boost the RegTech and FinTech scene in Singapore.
As a seasoned Compliance professional with deep regulatory knowledge and extensive experiences in the compliance space, our CEO and Co-Founder, Mr. Chionh Chye Kit was invited by Nanyang Technological University (NTU) to speak at the Mini Talk Series. This session is organised to equip NTU undergraduates with introductory knowledge about RegTech, including the various verticals of RegTech.
If you’d like to learn more about RegTech, this video is the perfect stepping stone for you to kickstart your RegTech journey!
Singapore FinTech Association (SFA) RegTech Landscape Map
Singapore FinTech Association (SFA)’s RegTech Sub-Committee has launched the SFA RegTech Ecosystem Map with the aim to promote the invention and adoption of technologies, so as to overcome regulatory challenges in Singapore. The SFA RegTech Sub-Committee was launched in the second quarter of 2019, where our CEO and Co-Founder, Chionh Chye Kit was appointed as the Chair of the Sub-Committee. The launch of this Ecosystem map is in line with the vision and mission of the RegTech Sub-Committee, as it helps to foster collaboration between the RegTech Ecosystem participants, which includes RegTech Service Providers, Consultants & Professional Services and Infrastructure & Ecosystem Support, to achieve regulatory advantage and better regulatory outcomes in Singapore.
(Click on image to enlarge)
If you would like to arrange a demo with us, please contact our Sales Team via our contact form here.