This track supports joint projects by multiple FIs to customise an existing solution with a solution provider.
80% co-funding of qualifying expenses, capped at $100,000 per participating entity, per project.
Qualifying expenses may include hardware and software, professional services, and manpower costs.
The funding period is capped at 2 years from implementation.
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.
Project Eligibility Qualifying solutions must:
• Be deployed and used for at least 1 year in Singapore
• Contribute to improvements in productivity, efficiency, risk management, operational resilience, or customer service
• Belong to any of the categories listed below; and
• Not be built from scratch nor require investment in heavy infrastructure e.g. servers.
The categories of solutions supported are:
• Cloud services
• Customer relationship and engagement tools (including digital customer onboarding)
• Office productivity tools
• Compliance & KYC tools (including transaction monitoring tools)
• Data-related services (including data warehousing, data automation, data analytics)
• Enterprise services (including HR and accounting systems)
• Project management, development and testing tools
• Security-related solutions; Communication and collaboration tools
• Marketing productivity tools (including customer sensing tools, insights generation)
• Solutions to support alternative working arrangements, operational resiliency, and BCP arrangements.