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FINTECH CERTIFIED TODAY!

CERTIFICATION FOR SINGAPORE FINTECHS

What is this certification?

SFA's FinTech certification* program distinguishes the FinTech companies from other SFA members and FinTechs in the marketplace where FinTechs will have the privilege to use SFA's Certified FinTech badge. The FinTech certification is recognized by the Monetary Authority of Singapore (MAS) and it is a benchmark qualification needed to receive some of the support from the COVID-19 Support Package.

Who can qualify?

  1. Company is registered and operating in Singapore.
  2. Company is providing a technology solution for the financial sector as their core business.  This excludes companies with core business that are outside of the financial sector but implemented a wallet or payment solution to call themselves a Fintech.
  3. Company must have a working product1 that is ready for use.

Defined as a product that is ready for release / already released. The product should have enough value that people are willing to use it or buy it. It should be fully tested, demonstrate enough benefits and features to retain users and be available for use.

Why do I need this certification?

  1. This certification is recognised by the Monetary Authority of Singapore (MAS)
  2. This is the benchmark qualification needed to receive some of the support from the MAS’s COVID-19 Support Package**

**Please note that approval of MAS Grants is subject to MAS discretion            * Terms & Conditions Apply

CERTIFICATION FEES

First Time Application: $648 for Members and $3,348 for Non-Members inclusive of 8% GST and a Non-refundable Admin Fee of $108
Re-application: $648 for Members and $3,348 for Non-Members inclusive of 8% GST and a Non-refundable Admin Fee of $108
Renewal Cases: $540 for Members and $3,240 for Non-Members inclusive of 8% GST

*With effect from 1 August 2022, the FinTech Certification will no longer be complimentary for SFA Corporate Members.
*Please note that our prices will be subjected to 8% Goods and Services Tax (GST) with effect from 1st February 2023.

NOTE: The date of the FinTech certificate application has to be after the date of your SFA Membership registration to be eligible for the complimentary fees.

PROCESS OF CERTIFICATION

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Step 1: Fill up the Form

  • For first-time registrants, please fill up this form
  • For re-application, please fill up this form
  • You will need to upload your ACRA information and provide a short description of your solution

Step 2: Make Payment

  • A Payment Link will be sent to you via email within 5 minutes of submission
  • Please contact [email protected] in the event a Payment Link was not sent to you
  • SFA Members will be charged $648 (Inclusive of 8% GST and a Non-Refundable Admin Fee of $108 (w/GST))
  • SFA Non-Members will be charged $3,348 (Inclusive of 8% GST and a Non-Refundable Admin Fee of $108 (w/GST))
  • In the event of a Withdrawal or Rejection, the 8% GST charged and the Administrative Fee of $108 will not be refunded and only the Certification Fee will be refunded.
  • Your application will only be processed upon receival of the payment

Step 3: Review by SFA

  • SFA will review the application within 1 month
  • SFA may request for additional information where needed
  • You will be required to undergo a Demonstration Session where you are required to showcase your Minimum Viable Product (MVP) to SFA

Step 4: Issuance of Certificate

  • SFA will provide an e-certificate for certified FinTechs
  • Companies can use this certificate to apply for grants

WHAT YOU SHOULD PREPARE

Company Documents

  • ACRA Biz Profile (Dated within the last 3 months from the date of your application)*

FinTech Solutions

  • Your Company's FinTech Solution Write Up (At Least 1)*
  • Financial Industry Customer Case Studies (Optional)

Supporting Documents

  • Additional Documents to show evidences of your Working Product or Minimal Viable Product (MVP)*

*Denotes Compulsory Documents

CURRENT STATISTICS

%

of successful applications receives their certification within 7 Working Days

average Working Days to receive the certification

Got more questions? View our FAQ, or Terms & Conditions, or Email us directly at [email protected]

EXCLUSIVE OFFERS FOR CERTIFIED FINTECH SFA MEMBERS

1 Startups may be eligible to be "topped up" to a higher credit amount if they previously received a lower amount of credits. Startups may not be eligible for AWS Activate Credits if they previously received a similar or greater amount of credits. For more information, please review the AWS Activate Terms & Conditions. Please contact AWS if you need confirmation on the amount of AWS Activate Credits you are eligible to receive. T&C link: https://aws.amazon.com/activate/terms/