The RegTech grant scheme, which is available to Singapore-based financial institutions (FIs), aims to promote the adoption and integration of technology solutions in the risk management and compliance functions of FIs. This will help FIs enhance processes and capabilities in these domains, and encourage a vibrant RegTech ecosystem in Singapore.

To foster the continued growth of Singapore-based FinTech companies and help the companies offset their POC costs. FinTechs must register and complete their profile on APIX, as well as carry out their POCs with any Financial Institution on APIX to be eligible for this grant

The Grant will help the FinTechs manage their cashflow better, support them in generating new businesses, and provide greater support for FinTechs to pursue growth strategies.

MAS will double the salary support for FIs to hire SC fresh graduates or workers from other sectors and place them in talent development programmes under the Finance Associate Management Scheme (FAMS).

FAMS is a talent development tool to help groom Singaporeans for future specialist and management roles in the financial services industry through structured programmes offered by FIs

Fully funded recruitment services for companies. Provide targeted candidate matching and candidate referrals

Further support companies in onboarding new hires through placement programmes with salary and training support.

Including: Place and Train (PNT) |Professional Conversion Programme (PCP)

MAS will launch a new Training Allowance Grant (TAG) to encourage FIs and FinTech firms to make use of the downtime in business activity, to train and deepen the capabilities of their employees.

The TAG will also be available to support Singapore Citizens (SCs) and Permanent Residents (PRs) outside of the financial services and FinTech sectors.

Under the JSS, the Government will help employers by paying 75% Wage Subsidy capped at first $4,600 for April salary, 25% for the rest of the months for every local worker in employment, for 9 months

Employers will receive three main JSS payouts in Apr, Jul and Oct 2020, with an additional payout in May 2020. The level of support each employer will receive depends on the sector in which the employer operates.

To support firms during the circuit breaker period, wage support for the months of Apr and May 2020 will be topped-up to 75% for all firms, regardless of sector.

The support package includes:

a. Enhanced Course Fee Subsidy and Expansion of Training Scheme to Eligible FinTech firm and Single-Family Offices

b. New Training Allowance Grant (TAG)

c. Doubling of monthly salary support under the Finance Associate Management Scheme (FAMS)

A placement programme to support companies in hiring and training local non-PMETs in relevant skills to take on new job position(s) and be deployment ready.

Pre-approval is needed for the programme before hiring takes place.

Through the Wage Credit Scheme, the Government provides businesses with co-funding support for wage increases made to their employees. This would allow businesses to free up resources to invest in productivity, and to share productivity gains with their employees.

SkillsFuture Singapore (SSG) provides course fee subsidies and absentee payroll for a wide range of approved courses to support employers in sending their employees for training.

In view of the worsening COVID-19 situation and the increasingly uncertain economic outlook, SSG will further enhance training support measures to provide greater help to companies.

SGUnited Traineeships Programme provides 80% co-funding of training allowance for recent graduates from ITE, Polytechnics and Universities.

Startup Talent Factory offers up to $12,000 salary subsidy grant for new and existing poly grad hires

A placement programme to support companies in hiring and training of new hires (Professionals, managers, executives and technicians) to move across industries or redeployed into new job roles e.g. into accountancy.

Pre-approval is needed for the programme before hiring/ redeployment takes place.

A training grant for Unionised Companies to defray their cost of training when they send staff who are union members for trainings that promotes employability enhancement.

Employers who hire workers through reskilling or training programmes will receive additional salary support.

Enhanced funding available for SMEs to send their employees for training. Enhanced Training Support Package and Enhanced Absentee Payroll

Companies in selected sectors that are directly and critically impacted by COVID-19 are eligible for enhanced Absentee Payroll at 90% of hourly basic salary, capped at $10 per hour, and enhanced Course Fee support at up to 90% of course fees.

The P-Max Programme is a Place-and-Train programme that aims to help SMEs better match, recruit, train, and manage suitable job-seeking PMEs.

Up to 70% funding support to help you defray the cost of the monthly stipend when you engage students through internships

25% of wages until August 2020. The JSS will provide wage support to employers, helping enterprises retain their local employees (Singapore Citizens and Permanent Residents) during this period of economic uncertainty.

Programmes with training and salary support to help individuals to reskill and take on new or enhanced job roles.

SkillsFuture Enterprise Credit provides eligible employers with a one-off $10,000 credit to undertake enterprise and workforce transformation initiatives in tandem.

To foster the continued growth of Singapore-based FinTech companies and help the companies offset their POC costs. FinTechs must register and complete their profile on APIX, as well as carry out their POCs with any Financial Institution on APIX to be eligible for this grant

The Grant will help the FinTechs manage their cashflow better, support them in generating new businesses, and provide greater support for FinTechs to pursue growth strategies.

The MAS Financial Sector Technology and Innovation (FSTI) Digital Acceleration Grant (DAG) scheme supports Singapore-based smaller financial institutions and FinTech firms adopt digital solutions to improve productivity, strengthen operational resilience, manage risks better, and serve customers better.

All companies with CIT payments due in the months of April, May, and June 2020 will be granted an automatic three-month deferment of these payments. The CIT payments deferred from April, May, and June 2020 will instead be collected in July, August, and September 2020 respectively

Corporates, including SMEs, holding general insurance policies that protect their business and property risks may apply to their insurer for instalment payment plans.

General insurance companies stand ready to work with their corporate customers so they can pay their premiums in smaller amounts and enjoy coverage for the paid-up period, instead of paying a lump sum premium for the entire policy period at the start

The Temporary Bridging Loan Programme (TBLP) provides access to working capital for business needs.

As announced at Solidarity Budget 2020, eligible enterprises may borrow up to $5 million under the TBLP, with the interest rate capped at 5% p.a., from Participating Financial Institutions (PFIs). The Government will provide 90% risk-share on these loans for new applications initiated from 8 April until 31 March 2021.

Eligible enterprises under the TBLP may also apply for up to 1 year deferral of principal repayment to help manage their debt, subject to assessment by the PFIs.

SMEs may opt to defer principal payments on their secured term loans up to 31 December 2020, subject to banks’ and finance companies’ assessment of the quality of the SMEs’ security. SMEs will also be able to extend the tenure of their loans by up to the corresponding principal deferment period if they wish. This relief will be available to SMEs that continue to pay interest and are in good standing with their banks and finance companies (not more than 90 days past due as of 6 April 2020)

Discounts on leases in specific venues will be available for SG FinTech Club members to make use of.

Contact [email protected] for more information

This funding is intended for longer term support in the form of equity, convertible notes and/ or venture debt type of investments.

Under the investment scheme, AMTD will provide matching opportunities to FinTechs by co-investing alongside identified investment partners.

The Fund welcomes partnerships with existing equity and venture debt investors across Asia and calls for the broader investment community to collaborate and empower the level of support from this scheme

The MAS Financial Sector Technology and Innovation (FSTI) Proof of Concept (POC) scheme provides funding support for experimentation, development and dissemination of nascent innovative technologies in the financial services sector. The FSTI scheme is valid till June 2020.

The Productivity Solutions Grant (PSG) supports companies keen on adopting IT solutions and equipment to enhance business processes.

PSG covers sector-specific solutions including the retail, food, logistics, precision engineering, construction and landscaping industries.

Other than sector-specific solutions, PSG also supports adoption of solutions that cut across industries, such as in areas of customer management, data analytics, financial management and inventory tracking.

The Enterprise Development Grant (EDG) helps Singapore companies grow and transform. This grant supports projects that help you upgrade your business, innovate or venture overseas, under three pillars: Core Capabilities, Innovation and Productivity, and Market Access.

In support of APIX Cares, the Monetary Authority of Singapore (MAS) will provide all Singapore-based FinTech firms six months’ free access to APIX.

Through APIX, FinTech firms and FIs can integrate and test solutions via our cloud-based architecture. Existing Singapore-based FinTechs that are commercially onboard APIX will also have their subscription extended until 31 December 2020

Find out more about Course Fee Funding and the eligible programmes that qualify.

The Enhanced Training Support Package seeks to help companies in selected sectors tide over the economic impact of COVID-19. They are eligible for enhanced Absentee Payroll at 90% of hourly basic salary, capped at $10 per hour, and enhanced Course Fee support at up to 90% of course fees.

Union Training Assistance Programme (UTAP) UTAP for Online/Blended Courses by Institutes of Higher Learning

Equip yourself with relevant and essential skills to stay ahead. Enhance and expand your skillsets to advance your job search.

A resource guide that contains information on the suite of job search services and programmes such as the MyCareersFuture.sg job portal, and career tips that can guide you in your job search.

A structured on-the-job training programme where Singaporeans can enjoy Training Allowance and Retention Incentive to encourage them to reskill, take on new jobs, and stay on the job.

Trained ECG counsellors will help students make informed education and career choices. Working adults can benefit from a wide range of services at WSG’s network of career centres, including employability skills workshops and networking sessions.

An internship programme for students to learn through work assignments and industry exposure to deepen and apply both technical and soft skills.

The NUS FinTechSG Programme is a traineeship program designed to enhance the competitiveness of the Singapore FinTech Industry. The program is jointly developed by National University Singapore (NUS) School of Computing (SoC) and AI Singapore, in consultation with experts in innovation and FinTech from UBS Bank, ATOS, RIPPLE, World Economic Forum, Bank of New York Mellon.

IBF Careers Connect offers a one-stop career advisory service to individuals in the financial industry.

These services are available to Singapore Citizens and Permanent Residents who are existing financial professionals or those who are making a career switch to the financial industry.

We provide personalized career coaching, job search skills workshops and access to networking events.

To meet with a career adviser, please email [email protected]

The SGUnited Traineeships Programme aims to support those who have recently graduated or will soon be graduating from the Institute of Technical Education (ITE), Polytechnics, Universities and other private educational institutions in 2019 or 2020, to take up traineeship opportunities across various sectors. This includes those who graduated from the above institutions and recently completed National Service in 2019/2020.

These traineeships will help graduates develop their skills professionally even during the current economic climate. With a duration of up to 12 months, these traineeships will equip young locals with valuable industry experience and allow them to gain a firmer foothold in the job market during the economic recovery.

The SGUnited Skills (SGUS) programme is a full-time training programme ranging from 6 to 9 months. The training courses are designed in partnership with the industry to help you acquire industry-relevant skills that can improve your employability.

All Singapore Citizen and Permanent Resident job seekers aged 21 and above are eligible for the programme.

You will receive a training allowance of $1,200 per month** for the duration of the programme to cover your subsistence expenses. Your programme fees will be subsidised to keep your upskilling affordable. You can use your SkillsFuture Credit* to offset your course fees after funding subsidies.